We are the leading provider of magnetoresistive random access memory (MRAM)
solutions. Our MRAM solutions offer the persistence of non-volatile memory,
a type of memory that retains information even in the absence of power, with
the speed and endurance of random access memory (RAM), and enable the protection
of mission critical data particularly in the event of power interruption or
failure. Our MRAM solutions allow our customers in the industrial, automotive
and transportation, and enterprise storage markets to design high performance,
power efficient and reliable systems without the need for bulky batteries or
capacitors.
Our MRAM technology, unlike traditional semiconductor memory technologies,
stores data as a magnetic state rather than an electrical charge, and is offered
as either a discrete or embedded solution. Our products read and write data
at speeds on par with most dynamic RAM (DRAM) and static RAM (SRAM). Our products
offer the non-volatility of flash memory but with significantly superior endurance.
We offer our MRAM products with different densities and interfaces to address
the various needs of our customers. Our lower-density MRAM products, which we
define as having bit densities from 128kb to 16Mb, offer write-speeds on par
with SRAM, with virtually unlimited endurance. Our higher density products,
which we define as having bit densities at or greater than 64Mb, offer write-speeds
on par with DRAM and have superior endurance compared to most other non-volatile
memory technologies.
Our lower-density products are optimized for use in industrial, and automotive
and transportation applications, while our higher-density products are optimized
for use in enterprise storage applications. In the enterprise storage market,
we collaborate with industry-leading memory controller companies to enable compatibility
of their controllers with our MRAM products, facilitating the adoption of our
solutions into our customers’ existing end products. We sell our products
directly and through our established distribution channel to industry-leading
original equipment manufacturers (OEMs) and original design manufacturers (ODMs)
We leverage both internal and outsourced manufacturing capabilities to produce
our MRAM products. We purchase industry-standard complementary metal-oxide semiconductor
(CMOS) wafers from semiconductor foundries and complete the processing of our
products by inserting our magnetic-bit technology at our 200mm fabrication facility
in Chandler, Arizona. We have entered into a manufacturing agreement with GLOBALFOUNDRIES
for 300mm high-volume production of our higher-density products. We believe
our strategic relationship with GLOBALFOUNDRIES accelerates the development
of our MRAM solutions, provides us with leading-edge outsourced manufacturing
capabilities, and enables us to operate a variable cost financial model. In
addition, GLOBALFOUNDRIES has the ability to embed our technology in its products
for sale to its customers, from which we would earn licensing or royalty revenue.
Traditional memory technologies have either fast write-speeds or are non-volatile,
but not both. MRAM combines both features into a single solution, making it
an ideal memory to protect data in the event of power interruption or failure,
and to store data that is frequently written and accessed. We believe customers
that employ MRAM in their systems are better able to design higher performance,
lower power, more reliable and simpler systems than they would be able to design
using other existing memory technologies. The following attributes make MRAM
an increasingly important application specific memory solution for system architectures
that require non-volatile memory with the speed and endurance of RAM:
Non-volatile. MRAM can retain data in the event of power interruption or failure,
which enables end-system designers to create products without costly power-loss
protection systems, such as batteries and capacitors.
Fast Write- Speeds. MRAM offers write-speeds that are on par with the fastest
available volatile memory technologies, including most DRAM and SRAM and is
significantly faster than other non-volatile memories used today. For example,
MRAM writes a block over 100,000 times faster than NAND flash, a type of non-volatile
flash memory.
Superior Write- Cycle Endurance. MRAM offers superior write-cycle endurance
to existing non-volatile solutions, enabling end-systems designers to offer
products that are not limited by memory wear-out. For example, MRAM write-cycle
endurance is nearly 10 million times greater than NAND flash.
Scalable to Greater Densities and Smaller Process Geometries. MRAM’s
write-speed and endurance are scalable with increasing bit densities and smaller
geometries, which we believe will allow system designers to employ MRAM in applications
that require more memory and smaller form factors.
Proven to be Manufacturable at High Volumes. MRAM can be manufactured in high
volumes and in advanced nodes, and is compatible with standard CMOS.
Low Energy Requirement. MRAM utilizes energy efficiently over the duration
of its write and read cycles. It has the ability to be completely powered down,
consuming no energy while still retaining data, which data can be accessed quickly
once power is restored.