Everspin Technologies, a key player in MRAM production, has applied for CHIPS Act funding to boost MRAM capacity and research.
Everspin Technologies Inc. (NASDAQ: MRAM), the leading domestic volume producer of MRAM (Magnetoresistive Random Access Memory), has officially submitted its application for the CHIPS (Creating Helpful Incentives to Produce Semiconductors for America) Incentives Program. The application, aimed at securing additional 200mm MRAM capacity, has been sent to the National Institute of Standards and Technology, a bureau of the U.S. Department of Commerce.
Sanjeev Aggarwal, President and CEO of Everspin, expressed optimism about the potential impact of the CHIPS Act funding on advancing MRAM technology. The application focuses on expanding both long-term research and development intellectual property (R&D IP) capabilities.
“We are pleased to announce that we have recently submitted our proposal for the CHIPS and Science Act, reflecting our dedication to advancing MRAM technology,” Aggarwal stated. “While the exact timing of the decision remains uncertain, we approach it with optimism, believing that the potential funding will further empower Everspin to contribute significantly to the semiconductor landscape.”
The anticipated funding will play a crucial role in enhancing Everspin’s capabilities, with a specific emphasis on expanding 200mm Toggle and STT-MRAM (Spin-Transfer Torque MRAM) capacity. Aggarwal highlighted the company’s commitment to pursuing additional grant opportunities, expressing optimism about the initiatives fueling growth and strengthening Everspin’s position as a leader in MRAM technology.
