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EUR2.5m Satellite Broadband Chip Contract Secured
EUR2.5m Satellite Broadband Chip Contract Secured.
About this update from Ensilica Plc
[{"type":"text","content":"\n\n \nPrior to publication, the information contained within this announcement was deemed by the Group to constitute inside information for the purposes of Regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310. With the publication of this announcement, this information is now considered to be in the public domain.\n \n30 August 2023\n \nEnSilica plc\n(\"EnSilica\", the \"Company\" or the \"Group\")\n \nNew lead customer secured for EnSilica's Satellite Broadband Chip worth €2.5 million\n \nEnSilica (AIM: ENSI), a leading chip maker of mixed signal ASICs (Application Specific Integrated Circuits), is pleased to announce that it has secured a contract worth €2.5m with a lead customer for EnSilica's proprietary satellite broadband chip (the \"Contract\"). The Contract provides the customer with early access to the satellite broadband chip and an order for EnSilica for the first 50,000 chips. The Customer is a vendor of user terminals for SatCom on-the-Move (SOTM) applications, using EnSilica's chips to address the next generation of mass market satellite broadband user terminals.\n \nFunding of €5m for the development phase of the satellite broadband chip was announced by EnSilica on 17 February 2023, which was provided under the framework of the European Space Agency's Advanced Research in Telecommunications Systems Core Competitiveness programme, with the support of the UK Space Agency.\n \nThis chip will enable the next generation of low-cost, low-power satellite broadband user terminals. This type of component is a key enabler for user terminals operating with low earth orbit satellite systems. User terminals track the relative movement of the satellites, allowing users to access high-capacity connectivity in a very wide range of use cases, including automotive, maritime and aerospace connectivity, as well as connectivity for rural households. \n \nIan Lankshear, Chief Executive Officer of EnSilica plc, commented:\n \n\"With the satellite broadband communications market a key growth driver for our business, we are delighted to have a lead customer adopting our innovative semiconductor solution for their next generation of satellite broadband user terminals.\n \nGiven the high number of chips per antenna, and the millions of users that c...