#VELA Vela Technologies investee company – ENSI EnSilica – Industrial ASIC Supply Project Award July 25, 2022 – Posted in: Blog, Vela Technologies Plc (VELA) – Tags: CEO, investor, project, technology. finance

EnSilica, a leading chip maker of mixed signal ASICs (Application Specific Integrated Circuits), is pleased to announce that it has won a tender for a significant ASIC supply project for a leading European industrial Original Equipment Manufacturer (“OEM“) (the “Award“). The Award is subject to contract being finalised in line with the principal terms agreed before the tender.

The Award is for the design and supply of an ASIC for industrial and factory automation products and based on projected volumes by the customer, is worth in excess of US$30 million over seven years.

The EnSilica management believe that the Company’s commitment to excellence throughout all its procedures and processes made it the prime choice for this Award given the high-quality standards required by the customer.

The NRE design part of the Award is expected to commence this year and will be fully funded by the customer. Production and supply is expected to start at the end of calendar year 2024.

The industrial and automotive markets typically have 7 to 10-year project lifecycles for ASICs, with both markets requiring similar stringent device qualification and quality requirements. This Award helps to underpin EnSilica’s position as a leading European ASIC supplier for these markets.

Ian Lankshear, Chief Executive Officer of EnSilica plc, commented:

“The successful tender and subsequent award of this significant ASIC supply project is a great achievement for EnSilica. Obtaining preferred supplier status from this quality focused OEM is a credit to our team, and this has culminated in this highly prestigious project Award.

“This supply project is the first Award of what we hope will be a long and mutually rewarding partnership, supporting a large user of ASICs across its established global industrial and factory automation product lines.”

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