Everspin Technologies announced that it has received a strategic $14.55 million 2.5-years project from the Department of Defense (DoD) to provide continued and stable manufacturing services for aerospace and defense segments. Under the award, Everspin will provide a plan to mitigate risks to its MRAM manufacturing supply chain.
Everspin is producing its MRAM products at its manufacturing line in Chandler, Arizon. In March 2024, Everspin announced that it has applied for the CHIPS Incentives Program, asking for funding for an additional 200mm MRAM production line. It seems as if this current DoD award is not that project that was applied to in March. In 2022, Everspin asked for funding to build a new MRAM production line in Indiana.
Everspin recently announced two major agreement, a $9.25 million contract with Frontgrade for strategic radiation hardened MRAM technology and an agreement with QuickLogic, to bring MRAM technology to radiation hardened FPGAs. It seems as if aerospace and defense are becoming very important markets for Everspin.
Disclosure: the author of this post holds shares at Everspin
