Investor update - Weebit · This presentation includes or is otherwise based on information...
Transcript of Investor update - Weebit · This presentation includes or is otherwise based on information...
1
July 2019
Investor update
2
WEEBIT NANO AT A GLANCE
Listed on the ASX in August 2016 and headquartered in Melbourne
Successfully completed development ReRAM working production protype
Operations in Israel and R&D partnership with CEA-Leti in France
Developing next-gen memory solution based on Silicon Oxide (SiOx) ReRAM
Patents Registered in the USA, filed in France
2
Engaged with potential customer, developing a module based on their spec
3
SHARE INFORMATION
1. As of 18 July 20192. Including performance shares3. As of 31 March 2019
CAPITAL STRUCTURE
ASX Code: WBT01
Share price: $0.52102
Shares on issue: 63.6m103
Options: 8.9m1&204
Market cap: A$35.6m105
Cash: A$2.95M306
SHAREHOLDING BREAKDOWN
73%
OTHER#
21.12%5.88%
TOP 20*
Excluding Board & Management
BOARD &
MANAGEMENT^
^ On a fully diluted view, this number is 10.09% * On a fully diluted view, this number is 24.32%# On a fully diluted view, this number is 65.59%
4
WEEBIT LEADERSHIP TEAM
Received his PhD researching non-volatile memories, under the supervision of Prof Dov Frohman, the inventor of the first non-volatile memory technology
Led the creation of Tower Semiconductor and was its CEO for almost 10 years, including taking it public on NASDAQ
Co-founder of SaifunSemiconductor, a NVM company which was subsequently sold to Spansion
EXECUTIVE DIRECTOR
Served as Executive Vice President and General Manager at the Intel Architecture Group (IAG) and Chief Product Officer of Intel Corporation
IEEE Fellow and winner of the prize for innovation in industrial development from the Israeli President
Serves on the board of Mellanox as well as several other semiconductor startups
CHAIRMAN
Over 20 years of experience in the NVM domain in companies like Intel, Sandisk, Micron and Marvell, including development of the most advanced 45nm NOR Flash technology to date
Was part of Automotive division at Intel
CTO
40 years of experience in the semiconductor industry, including 2 exits at Verisity Design and Jasper Design Automation
CEO of PacketLight, turned it around from the verge of bankruptcy
Leading WW sales teams for almost 25 years
CEO
Over 20 years of experience as a Certified Public Accountant. Served as a senior manager at PWC Israel
Audited large public companies traded on the TASE and US Stock Exchanges and served as the CFO of several start-up companies
Active Board member of multiple companies inTASE and NASDAQ
CFO
5
ATIQ RAZA APPOINTED TO THE BOARDOver 40 years experience in the semiconductor industry Chairman and CEO of NextGen Inc for 7.5 years where he revolutionized
the design of x86 processors
Became President and COO of Advanced Micro Devices (AMD) after NextGen was acquired by AMD
Led AMD’s transition from running behind Intel Processors to being a direct competitor gaining significant market share in PCs and Cloud
Held multiple roles as investor, Chairman and CEO of several semiconductor companies Chairman and CEO of Raza Microelectronics (Now RMI Corporation) for 5.5 years
Chairman and CEO of Calient Technologies for 6 years, a global leader in pure photonic Optical Circuit Switching technology and systems
Served on the boards of Mellanox, Magma Design Automation, Matrix and Solantro Semiconductor Corporation
Master’s Degree in Materials Science and Engineering at Stanford University
6
WHY MEMORY?
6
Exponential Growth in Memory Intensive Applications
5G Smartphones
Facial RecognitionInternet Of Things
Data Centers
Gaming
Autonomous Vehicles
Surveillance
Drones
Robotics
7
CPU = Central Processing UnitSRAM = Static Random Access MemoryDRAM = Dynamic Random Access Memory
THE MEMORY MARKET
7Confidential
Embedded memory: Internal on chip
External memory Chip:Integrated on board
Weebit’s current focus
Practically every digital device contains embedded non-volatile memory (NVM)
NVM market expected to go over US$60B in 2019 (source: statista)
Current NVM solution for embedded has many drawbacks, the market is looking for new solutions
Emerging memory technologies, and specifically ReRAM, are starting to enter the market
Weebit’s ReRAM resolves key drawbacks while improving key technical parameters
Source: Yole Development, October 2018
DRAM
Flash
ReRAM
others
SRAM
eFlash
ReRAM
MRAM
Volatile Non-Volatile
eFlash – Embedded flashReRAM = Resistive RAMMRAM = Magnetic RAM
8
Embedded Flash Weebit’s ReRAM
SpeedDoes not provide the speed improvement required for tomorrow’s needs
~1000X faster programming and read operations
Energy Efficiency High energy consumption ~1000X more energy efficient by low voltage and fast write
ManufacturabilityChallenging manufacturing process, not compatible with standard logic process (difficult to embed) Can’t scale below 40-28nm
Simple process, utilises standard SiOx material and machinery, compatible with standard logic process, can scale to smallest geometries
Density Provides increased capacity for the near future Scalability allows higher future density
Reliability High error rate and limited endurance 10-100X higher enduranceX
X
X
X
WEEBIT’S RERAM SOLUTIONWeebit’s Silicon Oxide (SiOx) ReRAM technology addresses the shortcomings of the existing Flash technology. It is now preparing for transfer to a production facility and being adapted to a first potential customer. Its key competitive advantage compared to embedded Flash and to other new technologies is that it is based on standard materials and can be easily adapted to any fab.
9
EXPECTATIONS MET
Every committed technology milestone met!
NOV 201740nm working cells
SEPT 2016Development kicked off at Leti
OCT 2017300nm 4Kbit Array
APR 2019
FEB 201840nm 4Kbit Array
JUN 201840nm 1Mbit Array
Production level endurance and retention
9
10
Feb 18
Jun 18
Dec 18
Apr 19
Mar 20
Jun 20
Dec 20
PRODUCTISATION AND COMMERCIALISATION ROADMAP
4Kb Array
1Mb Array Process Optimisation
Demonstrated endurance of 1M and Retention of 10
years at 130-150oC
Deliver first memory module to potential
customer
Production Fab QualificationTechnology transfer and IP qualification
Initiate engagement with first potential customer
Currently received their specification and started
to implement it
Schedule reflects priority given to first potential customer engagement
28nm/300mm wafers available
10
11
TARGET MARKETS
Internet of Things Key Applications: Wearables, security, smart cities, etc. Key advantages: Ease of manufacturing and low power
Analog Key Applications: All types of sensors, automotive, GPS, Wifi, etc. Key advantages: Ease of manufacturing, doesn’t impact the design
Artificial Intelligence Key Applications: Facial & object recognition and big data manipulation Key advantages: Able to manufacture in most advanced geometries
Weebit is a strong fit for many other markets which will be targeted in the future
12
WEEBIT BUSINESS MODEL
License to fabs - Revenue per wafer consists of:Royalties: Range from 1-3% of the revenues from sales of the wafer, typically ~1.5%
License to semiconductor customers - Revenue per customer project consists of 3 main elements: IP Licensing Fees: Paid upon engagement, ranging from $500K
to $2M per license, typically ~$1M
Royalties: Range from 1-3% of the revenues from sales of the customer, typically ~1.5%
Non-Recurrent Engineering (NRE) fees: Covers costs to adapt the technology to customer specific needs, varies based on the specific customer needs
13
Mimic the brain as accurately as possible
o ReRAM resembles biological Neuronso Physical similarities lead to functional similaritieso Highly energy efficient
Weebit can enable Brain Inspired Artificial Intelligence systems using ReRAM for AI applications
ReRAM is the solution for tomorrow’s needs achieving artificial intelligence capabilities
Machine learning
Object recognition
Brain inspired computing systems
RERAM TECHNOLOGY FOR TOMORROW
14
Continuing positive progress and discussions on many additional fronts
Potential customers
Production fabs
Strategic investors
Industrial partners
SIGNIFICANT PROGRESS WITH PARTNERS
Announced Partnerships
Developing TCAD simulation models
of our ReRAM
Neuromorphic Computing
research
Neuromorphic Computing
research
In Memory Compute research
Silvaco IIT DelhiPolitecnicodi Milano Technion
15
THANK YOU
16
DISCLAIMER
This presentation contains certain statements that constitute forward-looking statements. Examples of such statements include, but are not limited to, statements regarding the design, scope, initiation, conduct and results of our research and development programs; our plans and objectives for future operations; and the potential benefits of our products and research technologies. In some cases, forward-looking statements can be identified by the use of terminology such as “may,” “will,” “expects,” “plans,” “anticipates,” “estimates,” “potential” or “continue” or the negative thereof or other comparable terminology. These statements involve a number of risks and uncertainties that could cause actual results and the timing of events to differ materially from those anticipated by these forward-looking statements. These risks and uncertainties include a variety of factors, some of which are beyond our control. All forward-looking statements and reasons why actual results may differ are based on information available to us when initially made, and we assume no obligation to update these forward-looking statements or reasons why actual results might differ or the information set forth herein.In addition, we do not make any representations or warranties, express or implied, with regard to the information included in this presentation of any other related document or information disclosed or furnished in connection thereto, including, without limitation, with respect to the accuracy, reliability, completeness or its sufficiency for any particular purpose. This information is proprietary and confidential of Weebit and is provided on a confidential basis and may not be disclosed or used without our prior written consent. You acknowledge that the disclosure and use of the information may be further prohibited under applicable securities or other laws. This presentation is made for informational purposes only and does not constitute an offer to sell any interest in Weebit not does it form the basis of any contract or agreement between the parties.Third party dataThis presentation includes or is otherwise based on information obtained from publicly available information, such as Statistica 2018, Yole Développement June 2017 and Advanced Materials Progress Report, 2018; and (iii) other information publicly released by corporations and government departments. Weebit has not independently verified or audited this information or any information. Accordingly, the accuracy and completeness of such information is not guaranteed. This data has been accurately reproduced and, as far as Weebit is aware, no facts have been omitted that would render the information provided inaccurate or misleading. Investors should note that market data is inherently predictive and subject to uncertainty and is not necessarily reflective of actual market, industry and macroeconomic conditions. Specifically, there is no assurance that any of the forecasts or projections will be achieved. Forecasts and projections involve risks and uncertainties and are subject to change based on various factors, including those discussed above.
16