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EnSilica plc has been awarded an ASIC design services contract with a prestigious supplier of power and propulsion systems. The contract is valued at approximately £2 million and is set to commence in November 2024.
| Date | 21 Oct 2024 |
| Time | 07:00:04 |
| Category | Corporate updates |
| ID | 8576I |
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the UK Market Abuse Regulation
21 October 2024
EnSilica plc
("EnSilica", the "Company" or the "Group")
Award of £2 million Controller ASIC Design Services Contract
EnSilica, a leading chip maker of mixed signal ASICs (Application Specific Integrated Circuits), is pleased to announce that it has been awarded an ASIC design services contract with a prestigious supplier of power and propulsion systems used in the air, at sea, and on land (the "Contract").
The c.£2 million Contract will commence in November 2024, with revenues to run into the Company's next financial year, supporting market expectations for both those periods.
Ian Lankshear, Chief Executive Officer of EnSilica, commented:
"We are very pleased to be awarded our first contract with this globally renowned and highly prestigious engineering company for this design services project.
Importantly, this Contract positions EnSilica with the prospect of further long-term contracts with this customer beyond this design services phase, to support the ASIC through the development phase and into production.
EnSilica's expertise in high-integrity controller products for automotive, industrial and satellite markets makes us an ideal partner for sectors such as aerospace companies requiring high quality, high reliability semiconductor products using resilient bespoke supply chains."
For further information please contact:
|
EnSilica plc Ian Lankshear, Chief Executive Officer Kristoff Rademan, Chief Financial Officer |
via Vigo Consulting +44 (0)20 7390 0233 |
|
Allenby Capital Limited, Nominated Adviser & Joint Broker Jeremy Porter / Vivek Bhardwaj (Corporate Finance) Joscelin Pinnington / Tony Quirke (Sales & Corporate Broking)
|
+44 (0)20 3328 5656 |
|
Singer Capital Markets, Joint Broker Rick Thompson / Asha Chotai
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+44 (0)20 7496 3000 |
|
Vigo Consulting (Investor & Financial Public Relations) Jeremy Garcia / Kendall Hill / Anna Stacey |
+44 (0)20 7390 0233 ensilica@vigoconsulting.com |
The person responsible for arranging release of this announcement on behalf of the Company is Ian Lankshear, Chief Executive Officer.
About EnSilica
EnSilica is a leading fabless design house focused on custom ASIC design and supply for OEMs and system houses, as well as IC design services for companies with their own design teams. The company has world-class expertise in supplying custom RF, mmWave, mixed signal and digital ICs to its international customers in the automotive, industrial, healthcare and communications markets. The company also offers a broad portfolio of core IP covering cryptography, radar, and communications systems. EnSilica has a track record in delivering high quality solutions to demanding industry standards. The company is headquartered near Oxford, UK and has design centres across the UK and in Bangalore, India and Porto Alegre, Brazil.