Ensilica receives first production order for Arm-based Industrial Controller ASIC
By Iain Gilbert
Date: Tuesday 03 Sep 2024
(Sharecast News) - Chip maker Ensilica said on Tuesday that it has received the first production for its Arm-based Industrial Controller ASIC, expected to be worth more than $30.0m over a seven-year period.
Ensilica said the contract, awarded by a "leading European industrial original equipment manufacturer", was for an ASIC that will be "a key component" in their factory automation controller systems.
The AIM-listed group stated the first orders for the ASIC were for delivery to the customer in the first half of 2025, with total production levels based on the customer's estimates.
Chief executive officer Ian Lankshear said: "I would like to thank our talented engineering and operations team for their diligent work that has led to the smooth execution of this important first project for this leading industrial OEM.
"This production order marks our fourth ASIC in production and a further eight chips now at the design stage. This milestone demonstrates that EnSilica is adding to its pipeline of ASICs in supply to generate the strong reoccurring revenues which the fabless business is proven to deliver when well executed."
As of 1100 BST, Ensilica shares had rallied 9.60% to 49.87p.
Reporting by Iain Gilbert at Sharecast.com
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