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Everspin Achieves Data Center OEM qualification of its 1Gb STT-MRAM Solution

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Everspin Achieves Data Center OEM qualification of its 1Gb STT-MRAM Solution

With this customer design win qualification, Everspin also announces production shipments of the 1Gb STT-MRAM

CHANDLER, Ariz.--(BUSINESS WIRE)--Dec. 11, 2019-- Everspin Technologies, Inc. (NASDAQ: MRAM), the world's leading developer and manufacturer of Magnetoresistive RAM (MRAM), today announced receiving the qualification notice from a major server OEM of its 1-Gigabit (Gb) Spin-transfer Torque Magnetoresistive Random Access Memory (STT-MRAM) device. This qualification notice affirms the quality, performance and specifications of the 1Gb device and enables its use in the production of products for this customer. Earlier this summer, Everspin announced pilot manufacturing of its 28 nm 1Gb device and is now qualified to make production shipments to its first qualifying customer. No other manufacturer has achieved production of any discrete STT-MRAM device, a further testament to Everspin’s leadership in the field having achieved production of its 256Mb STT-MRAM in 2017. To date, Everspin has produced more than 120 million units of its Toggle and STT-MRAM devices.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20191211005184/en/

Everspin's 1 Gb STT-MRAM Component (Photo: Business Wire)

Everspin's 1 Gb STT-MRAM Component (Photo: Business Wire)

“We continue to make great strides in the commercialization of MRAM across many market segments, including the data center,” said Kevin Conley, President and CEO of Everspin. “It is very rewarding to see the completion of this very important customer milestone with our 1Gb STT-MRAM, along with the collaboration that has taken place with our customers and our ecosystem partners.”

Everspin’s STT-MRAM devices allow enterprise infrastructure and data center providers to increase the reliability and performance of systems where low latency data persistence is critical. This is achieved by delivering protection against power loss and allowing storage OEMs to significantly improve quality of service of their products. Similar benefits can also be achieved using the 1Gb STT-MRAM device as a persistent data write buffer in storage and fabric accelerators, computational storage, and other applications.

The Data Center OEM name is not being disclosed as they have not yet announced their end product(s).

Additional Resources

About Everspin Technologies
Everspin Technologies, Inc. is the world’s leading provider of Magnetoresistive RAM (MRAM), delivering unprecedented performance, non-volatility, endurance and reliability for applications where data persistence is paramount. Headquartered in Chandler, Arizona, Everspin is transforming the memory market with the largest and most diverse foundation of MRAM customers. For more information, visit www.everspin.com. NASDAQ: MRAM.

Cautionary Statement Regarding 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 statement, including, but not limited to; the anticipated market adoption of Everspin’s products and technology at the rate Everspin expects; the ability for Everspin to expand the markets Everspin addresses at the rate it expects; the risk that unexpected technical difficulties may develop in the final stages of development or production of its products, or when Everspin’s customers may ship in volume. Readers are advised that they should not place undue reliance on these forward-looking statements and should review the risk factors included in Everspin’s Form 10-Q filed with the Securities and Exchange Commission on November 7, 2019, 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.

Source: Everspin Technologies, Inc.

Rainier Communications
Marianne Sabella Dempsey/Joanne Stanway
617-223-8675/978-273-1473
everspin@rainierco.com

Everspin Technologies
Troy Winslow
480-347-1122
troy.winslow@everspin.com