Everspin Technologies is expanding its onshore Toggle MRAM capabilities through a new agreement with a U.S. prime contractor, aimed at supporting the country’s defense industrial base.
As part of the deal, Everspin will serve as a subcontractor under an existing prime contract, delivering advanced Toggle MRAM process technology along with engineering and foundry services for U.S. Department of War (DoW) programs.
The company’s recently announced foundry services partnership with Microchip further strengthens its U.S.-based manufacturing footprint, positioning it to support future production tied to these initiatives.
The agreement is valued at a total of $40 million over a period of two and a half years.
Leadership Comment
“This work builds on Everspin’s long history supporting U.S. DoW programs where performance, reliability, longevity and U.S. domestic production are critical,” said Sanjeev Aggarwal, President and Chief Executive Officer of Everspin Technologies. “Everspin’s MRAM solutions are used in military and aerospace applications because they deliver consistent performance over time, and this work allows us to continue advancing technology to meet evolving program requirements.”
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