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Everspin and SilTerra Join Forces to Create New Manufacturing Center for MRAM

CHANDLER, Ariz.--(BUSINESS WIRE)--Nov. 5, 2018-- Everspin Technologies, Inc. (NASDAQ: MRAM), the world's leading developer and manufacturer of Magnetoresistive RAM (MRAM), entered into a multi-year partnership with SilTerra, a world-class semiconductor manufacturing services company located in Kulim, Malaysia, to create additional manufacturing capacity for Toggle MRAM products. This partnership is part of a three-way agreement between Everspin, SilTerra and Bosch Sensortec, a licensee of Everspin’s TMR sensor intellectual property.

Through this partnership, Everspin will augment its production capacity to meet growing demand for its Toggle MRAM products in the industrial, computing, medical, and transportation markets, where fast, reliable, non-volatile memory is critical. Initial production is expected to start in calendar year 2020.

Everspin will continue in parallel to operate its manufacturing line for Toggle MRAM and TMR sensor products in Chandler, AZ. That capacity is operated under a cleanroom lease and manufacturing agreement with NXP.

“Everspin is proud to partner with Bosch Sensortec and SilTerra in taking this strategic step of creating new manufacturing capacity for our products. Continued expansion in the manufacturing capacity for our Toggle MRAM products is a key pillar of our long term growth strategy,” stated Kevin Conley, Everspin’s CEO.

“We are excited about the manufacturing partnership with Everspin and Bosch Sensortec. SilTerra is committed to deliver best-in-class manufacturing capacity support and service to ensure rapid ramp up of products to meet market expectations,” said Mr. Firdaus Abdullah, SilTerra’s CEO.

About Everspin Technologies

Headquartered in Chandler, Arizona, Everspin Technologies, Inc. is the worldwide leader in the design, volume production and distribution of Magnetoresistive RAM (MRAM) into markets and applications where data persistence, performance, and endurance are paramount. Serving applications across the data center, industrial, and transportation markets, Everspin has built the strongest and fastest-growing foundation of MRAM users in the world. For more information, visit www.everspin.com.

Forward-Looking Statements

This press release contains forward-looking statements regarding future events that involve risks and uncertainties that could cause actual results or events to differ materially from the expectations disclosed in the forward-looking statements, including, but not limited to, Everspin and SilTerra to expand production capacity in a timely and efficient manner. Actual results could differ materially from these forward-looking statements as a result of certain factors, including, without limitation, the risks set forth in Everspin’s Form 10-K filed with the Securities and Exchange Commission on March 15, 2018, under the caption “Risk Factors.” Subsequent events may cause these expectations to change, and Everspin disclaims any obligations to update or alter these forward-looking statements in the future, whether as a result of new information, future events or otherwise.

About SilTerra

SilTerra Malaysia Sdn Bhd is a semiconductor wafer foundry offering fabrication and design support services in CMOS logic, High-Voltage, Mixed-signal, RF, BCD, Power and MEMS technologies down to 90 nanometer feature size. SilTerra's wafer fab has a design-in capacity of 46,000 eight-inch wafers per month and currently serves customers in US, Taiwan, Korea and China.

For additional information on SilTerra or its services, please visit www.silterra.com.

Source: Everspin Technologies, Inc.

For Everspin Technologies, Inc.
Story Public Relations
Charlie Rubin, 510-908-3356
charlie@storypr.com
or
Shelton Group Investor Relations
Leanne K. Sievers, 949-224-3874
sheltonir@sheltongroup.com
or
SilTerra Malaysia Sdn Bhd
Koh Meng Kong, 604-491-0425
mengkong_koh@silterra.com