Weebitnano [ASX:WBT] , the Israeli based memory chip company with a decidedly Scottish sounding name - I am feeling humorous today - has announced it is continuing to make good progress towards commercialisation.
This would suggest it is well ahead of the pack and one of the reasons may well be the fact that it uses silicone oxide, a widely accepted base for the current production of semi conductors.
This means its non destructive SiOx ReRAM memory chip is a lot easier to bring into an existing fabrication plant as it doesn't require a whole new production process.
The Weebitnano Q1 FY20 Activities Update, out today, states that the company is on track to commence commercial manufacturing in a production fab by the end of 2020.
According to Weebitnano CEO Coby Hanoch, “We are actively working to secure first orders of our technology and are currently developing a memory module to meet the exact specifications of a potential first customer.
"Based in South Korea, this potential customer is a material player in the global semiconductor industry, with its own fabrication plant" he said.
Weebitnano has a history of either meeting or exceeding its stated goals.
During the quarter the company raised $600K which it said would be used to hire staff and purchase tools to develop and implement the memory module for the South Korean customer.
According to Hanoch, "The company believes this potential first customer is the ideal partner for Weebitnano."
Here is a little from an interview I did with Hanoch a few months ago.
The InsideMarket Private Fund does not own shares in Weebitnano at the time of publishing this post. We have not received any payment from the company for this coverage. Disruptive technology stocks should be considered very speculative, high-risk, and extremely volatile. There are significant risks inherent in developing new technologies that are not discussed here. You should always seek professional advice before considering any share purchase or sale. Please read our full disclaimer.