CHANDLER, Ariz., Jan. 17, 2018 (GLOBE NEWSWIRE) -- Everspin Technologies, Inc. (NASDAQ:MRAM), the world's leading developer and manufacturer of discrete and embedded MRAM, today announced the Company recorded revenue for its first 40nm 256Mb STT-MRAM products in the fourth quarter of 2017 and is in the process of ramping its volume production in 2018. This achievement represents an important milestone for STT-MRAM as it is the enabling step for bringing the persistent memory to market.
STT-MRAM is a significant advancement in magnetoresistive random access memory (MRAM) as the densities of this persistent memory technology open up new market opportunities beyond where MRAM has been deployed previously. While there are several companies committed to the MRAM market today, Everspin has the advantage of being the first to reach a volume production for STT-MRAM as well as the only company that is executing on both discrete and embedded MRAM (eMRAM) solutions. The 256Mb STT-MRAM also employs an innovative ST-DDR3 interface, unlocking performance previously unattainable in legacy MRAM components.
“Our 256Mb STT-MRAM is the first ever perpendicular MTJ STT-MRAM entering mass production. This is both a testament to the technical strength of Everspin’s team in design and technology as well as the joint productization strength provided by the collaboration with GLOBALFOUNDRIES,” said Kevin Conley, President and CEO of Everspin Technologies. “This is a bellwether milestone in the evolution of this disruptive technology and we are very excited about the advantages that the capacity and performance of this product brings to our customers.”
“GLOBALFOUNDRIES is excited to see the first STT-MRAM from the Everspin partnership reaching production. The movement of discrete STT-MRAM to volume production is an important milestone on the way to enabling our risk production release of 22FDX eMRAM for GLOBALFOUNDRIES' customers later this year,” said Dave Eggleston, Vice President of Embedded Memory, GLOBALFOUNDRIES.
Kevin Conley, President and CEO, and Jeff Winzeler, CFO, will present tomorrow at Needham & Company’s 20th Annual Growth Conference from 12:50 – 1:30PM EST at the Lotte New York Palace Hotel. Management will be available to meet with investors at the conference. Copies of any presentation materials will be made available on www.Everspin.com.
About Everspin Technologies
Headquartered in Chandler, Arizona, Everspin Technologies, Inc. is the worldwide leader in designing, manufacturing, and commercially shipping discrete and embedded Magnetoresistive RAM (MRAM) into markets and applications where data persistence, performance, and endurance are paramount. With over 70 million MRAM products deployed in data center, cloud storage, energy, industrial, automotive, and transportation markets, Everspin has built the strongest and fastest growing foundation of MRAM users in the world. For more information, visit www.everspin.com.
Cautionary Statement Regarding Forward-Looking Statements
The statements in this press release regarding the development and production of Everspin’s MRAM solutions are forward-looking statements that are subject to risks and uncertainties. Risks that could cause these forward-looking statements not to come true include, but are not limited to: the risk that unexpected technical difficulties may develop in the production of these products; and that customers may not perceive the benefits of Everspin’s MRAM solutions to be as Everspin perceives them to be.
Everspin Contact:
Michael Schoolnik Story Public Relations 415-674-3816 Michael@storypr.com
Leanne K. Sievers - Shelton Group Investor Relations 949-224-3874 sheltonir@sheltongroup.com