Everspin Tech Targets NOR Flash, Data Center Growth With High-Density MRAM

Everspin Tech NASDAQ: MRAM outlined its growth strategy in magnetic random-access memory, or MRAM, citing expanding demand from industrial automation, aerospace, data centers and higher-density replacements for NOR flash memory. During a fireside chat hosted by Lytham Partners Managing Partner Robert Blum, President and Chief Executive Officer Sanjeev Aggarwal said the company has shipped more than 200 million MRAM units since its early commercialization efforts and serves more than 2,000 customers worldwide. Everspin was spun out of Freescale in 2008 and develops non-volatile memory products based on magnetic materials.

Aggarwal said MRAM combines fast read-and-write access speeds comparable with SRAM or DRAM with the persistence of flash memory. He said the technology can be accessed in roughly 25 to 30 nanoseconds, compared with NOR flash write times measured in hundreds of microseconds. “If you need a higher density boot memory, that's Everspin MRAM,” Aggarwal said, arguing that NOR flash has stopped scaling at 40-nanometer CMOS technology and has limited available densities. “There isn't an alternate technology. There isn't an alternate provider today.”

Everspin has commercialized MRAM products for applications that resemble SRAM, DRAM and NOR flash. Its products are used in industrial automation, casino gaming, transportation, data centers, satellites, medical equipment and flight-control systems, according to management. The company’s 1-gigabit DDR4-like MRAM has been deployed in IBM’s FlashCore module for five generations, Aggarwal said. Everspin also offers NOR-flash-like MRAM products ranging from 64 megabits to 256 megabits and plans to tape out a 256-megabit product at Taiwan Semiconductor Manufacturing Co. later this year. The product is intended to scale toward densities of up to 2 gigabits.

Management highlighted MRAM’s radiation tolerance as a differentiating feature for space applications. Aggarwal said Everspin’s technology has been deployed on the Mars rover through Frontgrade and is also traveling on NASA’s Lucy mission to Jupiter. Chief Financial Officer Bill Cooper said the low-Earth-orbit satellite market represents a significant opportunity because satellites can benefit from fast data transfers during limited communication windows and from MRAM’s radiation-resistant properties. He said Everspin estimates its products could be used in four to eight positions per satellite. Cooper also cited the company’s recently announced agreement with Astro Digital in the geosynchronous-orbit satellite market. He said the company sees hig...