\u00a0<\/em><\/strong>24 February 2020<\/em><\/strong> \u2013 Weebit Nano Ltd (ASX: WBT), the Israel-based semiconductor company seeking to develop and commercialise the next generation of memory technology, is pleased to announce that it has signed a Letter-of-Intent with SiEn (QingDao) Integrated Circuits Co., Ltd. (SiEn), China\u2019s first \u00a0to jointly investigate ways in which Weebit\u2019s technology can be used in SiEn\u2019s products.<\/p>\n SiEn is China\u2019s first semiconductor company based on a Communal Integrated Device Manufacturer (CIDM) model.\u00a0 This model aggregates companies with similar target markets, technologies, production lines and customers to share common manufacturing technology production goals. \u00a0Weebit\u2019s ReRAM technology could enhance SiEn\u2019s competitive position by adding significant non-volatile memory (NVM) capability to products manufactured by SiEn.<\/p>\n SiEn was established by Dr. Richard Chang, known as the “father of the Chinese semiconductor” and founder of China-based Semiconductor Manufacturing International Corporation (SMIC). \u00a0This Chinese-American entrepreneur is well known in the semiconductor industry as a pioneer with decades of experience. \u00a0He worked for 20 years at Texas Instruments in the US, successfully creating and managing more than 10 wafer fabs in the US, Japan, Singapore, Italy, Taiwan, and China.\u00a0 He also established Worldwide Semiconductor Manufacturing Corp (WSMC), which was acquired by Taiwan Semiconductor Manufacturing Corp (TSMC).<\/p>\n Coby Hanoch, CEO of Weebit Nano<\/strong>, said:<\/strong> \u201cWe are honored to work with an industry luminary such as Richard Chang. \u00a0This is a great vote of confidence in Weebit\u2019s technology. \u00a0Today there are dozens of fabs under construction in China, but SiEn\u2019s fab is the only one taking the CIDM approach given Richard\u2019s vast experience and knowledge of the market, allowing SiEn to bring together the design and fabrication processes, so instead of working with two separate entities, we can just focus on SiEn.\u201d<\/p>\n Dr. Richard Chang, Chairman of SiEn<\/strong>, said: <\/strong>\u201cWe look forward to our cooperation with Weebit. \u00a0SiEn will finish constructing two fabs of 200mm and 300mm wafers this year, and we believe Weebit\u2019s technology can be a perfect fit into our offering. \u00a0Weebit has a very impressive Board and management team and I had the honor of working with Yoav Nissan-Cohen when I was setting up SMIC. \u00a0Our production line will be based on\u00a0 similar technology to that used by Leti, making the technology transfer simpler, and is expected to bring forward the time required to bring products to market.\u201d<\/strong><\/p>\n \u00a0<\/strong>This announcement has been authorized for release by the Board.<\/p>\n Weebit Nano is a leader in the development of next generation computer memory technology, and plans to become the new industry standard in this space. Its goal is to address the growing need for a significantly higher performance and lower power computer memory technology. Weebit Nano\u2019s ReRAM technology is based on fab-friendly Silicon Oxide, allowing the company to rapidly execute, without the need for special equipment or preparations. The company secured several patents to ensure optimal commercial and legal protection for its ground-breaking technology.<\/p>\n Weebit Nano\u2019s technology enables a quantum leap, allowing semiconductor memory elements to be significantly cheaper, faster, more reliable and more energy efficient than the existing Flash technology. Weebit Nano has signed an R&D agreement with Leti, an R&D institute that specialises in nanotechnologies, to further develop SiOx ReRAM technology.<\/p>\n\u00a0About Weebit Nano Limited<\/strong><\/h3>\n