Weebit Nano Limited, support for accelerated research expected to generate additional patentsTeam Veye | 14 Jan 2021 ASX - WBT
Weebit Nano Limited (ASX: WBT)
Weebit Nano and Leti file two new patents optimising ReRAM performance
Weebit Nano Limited (ASX: WBT) in conjunction with its development partner Leti, recognised as a global leader in the field of micro-electronics, on 21 December 2020 announced that they recently filed two new patents related to Weebit Nano’s Silicon Oxide (SiOx) ReRAM technology.
- The first patent defines a process improvement to enable high memory yield and high uniformity across memory cells and throughout the wafer.
- The second patent relates to the selector development with a very fast read, which enables reduced power consumption and reduced selector stress during the read operation.
(Chart source: TradingView)
On December 18, 2020 the company had successfully completes $3 million Share Purchase Plan and has been heavily oversubscribed.
On 25 November 2020 the company has secured $12 million. The funds raised
from the Placement will be used to:
- Accelerating process qualification towards a production fab and initiate the shift to 300nm/28nm technology in the embedded memory market;
- Towards commercialisation initiatives, including strengthening the sales team and increasing marketing activities in the embedded memory market;
- Progress the next phase of the standalone memory technology project and support partnership programmes with select foundries to accelerate deployment;
- To accelerate the research of neuromorphic computing architectures and develop the next generation of the neuromorphic demo (Data Source – Company Reports)
The strategic partnership with Leti will help the company to enhance the technology with more advanced capabilities, thereby better addressing future customer needs. The combination of the recently completed Placement and the SPP will allow it to accelerate the commercialisation activities across the embedded and standalone memory domains, as well as the neuromorphic domain, allowing it to move quickly to capitalise on the significant opportunities for its technology. The price charts indicate the formation of the “Bullish engulfing” in the month of October. The confirmation for the upside was done with the bullish candle in the next trading session. The stock has made a “Higher High “from there on, well supported by the positive divergence on RSI and MACD. Levels near $3.16-$3.22 play significant resistance. Closing above this channel can show good upside potential in the stock. Veye maintains a “Hold” on “Weebit Nano Limited” at the current price of $2.93
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