Weebit Nano's (ASX:WBT) September 2024 quarterly report noted expanded customer engagements and strategic partnerships with over 20 industry players. “This quarter marks a milestone for our ReRAM technology’s market readiness, with high demand from fabs and device makers worldwide,” commented CEO Coby Hanoch.
The company is pioneering Resistive Random Access Memory (ReRAM) technology, which is a type of next-generation non-volatile memory that is superior to flash. The technology has huge potential for edge computing markets. Qualification for ReRAM technology is being advanced at DB HiTek, a major foundry partner, with completion anticipated by mid-2025. This partnership aims to embed Weebit’s ReRAM into semiconductor designs that cater to automotive, IoT, and consumer electronics sectors.
As non-volatile memory gains traction, Weebit has bolstered its global sales team, targeting expansion in the US, Europe, and Asia.
Weebit’s patent portfolio also grew, with nine new patents granted this quarter, enhancing the efficiency, scalability, and endurance of its ReRAM cells — essential qualities for memory used in high-stress environments like automotive and aerospace applications.
Financially, Weebit ended the quarter with $57m in cash reserves. This funding will support further development and commercialisation as the company pursues new licensing agreements.
Shares are trading 4.94% higher at $2.02.
