Weebit Nano expands global sales infrastructure to support increased demand

Company sees growing interest in its ReRAM technology for a new generation of semiconductor devices

HOD HASHARON, Israel – Oct. 15, 2024 – Weebit Nano Limited (ASX:WBT) (Weebit), a leading developer and licensor of advanced memory technologies for the global semiconductor industry, has expanded its global sales infrastructure to support growing demand for its resistive random-access memory (ReRAM or RRAM) technology from foundries, integrated device manufacturers (IDMs), and product companies.

The expanded global sales infrastructure includes several personnel with deep industry experience and connections across key markets for Weebit, including the US, Europe, and Asia.

Leading the expansion is Chief Revenue Officer (CRO) Issachar Ohana. Based in Silicon Valley, Mr. Ohana was engaged by Weebit earlier this year. He brings more than 25 years’ experience in licensing and business development for semiconductor IP companies and in building successful global sales teams.

Recently, Richard Feng was appointed Country Manager for Weebit in Taiwan. Mr. Feng has more than 25 years of industry experience, including business development for IP companies SmartDV Technologies and MIPS. As a global hub for advanced semiconductor manufacturing, Taiwan is home to several of the world’s leading foundries and product companies and plays a pivotal role in Weebit’s worldwide expansion strategy. Mr. Feng’s extensive experience will be invaluable as the company grows.

Jackson Lam, VP of Strategic Alliances, China, leads Weebit sales in China. Mr. Lam has more than 30 years’ industry experience including roles with semiconductor vendors and original equipment manufacturers (OEMs) in China and Japan. The semiconductor opportunity in China is expanding rapidly, with production capacity expected to increase by 86% through 2032, according to the Semiconductor Industry Association1.

In Korea, Weebit’s efforts are led by Incusolution, a recognized leader in IP and EDA business development and support. Korea is a key market for semiconductors, with some of the world’s largest manufacturers, as well as product companies. The Semiconductor Industry Association expects that production capacity in the region will increase by 129% through 20321. Weebit already has a commercial agreement in place with Korean foundry DB HiTek.

In Europe, Weebit is represented by Partners4U GbR, a leading sales firm with deep technology expertise built over several decades. Europe is a hub of the semiconductor industry, where some of the top 10 IDMs are located. The Semiconductor Industry Association reports that semiconductor production capacity in the region will increase by 124% through 20321. There is also growing investment in semiconductor innovation with more than US$3.4 billion invested in semiconductor startups across various sectors in 20232.

Coby Hanoch, CEO of Weebit Nano, said: “We are currently seeing a strong shift in the memory and storage market towards adopting ReRAM as the non-volatile memory replacement for embedded flash. There is growing demand for ReRAM, both from foundries and IDMs, as well as product companies. As the only independent supplier of a qualified ReRAM, this is an ideal time to be in the embedded memory space. Addressing this opportunity requires a strong sales team across a range of territories and applications. Weebit is fortunate to have Issachar leading our sales activities, and he is assembling a great team, which I am sure will move Weebit to the next level.”

Sources:

1 https://www.semiconductors.org/emerging-resilience-in-the-semiconductor-supply-chain/

2 https://www.eetimes.eu/semiconductor-market-rebound-expected-in-2024-but-challenges-lie-ahead/

About Weebit Nano Limited

Weebit Nano Ltd. is a leading developer and licensor of advanced semiconductor memory technology. The company’s ground-breaking Resistive RAM (ReRAM) addresses the growing need for significantly higher performance and lower power memory solutions in a range of new electronic products such as Internet of Things (IoT) devices, smartphones, robotics, autonomous vehicles, 5G communications and artificial intelligence. Weebit ReRAM allows semiconductor memory elements to be significantly faster, less expensive, more reliable and more energy efficient than those using existing flash memory solutions. As it is based on fab-friendly materials, the technology can be quickly and easily integrated with existing flows and processes, without the need for special equipment or large investments. See www.weebit-nano.com.