Weebit Nano achieves a Tier-1 licensing deal, set to generate IP revenue in 2023

Weebit Nano Ltd (ASX: WBT) navigated challenges in Q1 FY24, with CEO Coby Hanoch emphasizing their resilience amid challenging conditions in Israel. The company achieved substantial milestones, including a key commercial agreement with a Tier-1 foundry and the qualification of their embedded ReRAM for automotive grade 1 temperatures. These successes pave the way for initial revenues later in the year. Weebit Nano further solidified its position as a global ReRAM leader with a licensing agreement with Tier-1 foundry DB HiTek in South Korea. This partnership showcases the efficiency of Weebit Nano's embedded ReRAM, offering advanced memory solutions for consumer, industrial, and IoT products. Rapid technology transfer to DB HiTek's production facility, followed by qualification in the 130nm process, highlights the swift progress of this collaboration.

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