Weebit-Nano - IT Press Tour March 2021

Transcript

1. The Future of Memory IT Press Tour April 2021
2. Weebit Nano at the IT Press Tour 2021 Agenda • Weebit Introduction • The Memory Market • Weebit’s ReRAM • Technology Development • The Weebit Opportunity • Latest Updates & News Today’s Presenters • Coby Hanoch, CEO • Ishai Naveh, CTO • Eran Briman, VP Marketing & Business Development 6 April 2021 2 Copyright 2021 Weebit Nano Ltd. PROPRIETARY
3. Weebit Introduction 6 April 2021 3 Copyright 2021 Weebit Nano Ltd. PROPRIETARY
4. Who Are We? Developer of ReRAM an Emerging NVM Targeting Rapidly Growing Market Significantly higher performance and lower power vs. incumbent NVM*; >4X lower cost vs. alternative emerging NVM On-going discussions with potential semiconductor customers and partners; targeting first commercial agreement mid-2021 World-class leadership team in place to support transition to commercialization Semiconductor IP company founded in Israel 2015; developing ReRAM, a Non- Volatile Memory (NVM) technology NVM market estimated at US$60B; growing to over US$100B by 2025** Competitive Advantage Fast Path to commercialization Experienced Team • Soon-to-be published research comparing MRAM, FRAM, ReRAM, Weebit’s ReRAM ** MarketsandMarkets Research ASX:WBT Demonstrated high data retention, endurance and yield; finalised stabilisation phase Ready for Production Fab Transfer 4 6 April 2021 Copyright 2021 Weebit Nano Ltd. PROPRIETARY
5. World-Renowned Board of Directors Coby Hanoch CEO BOARD Semiconductor veteran; Co-founder of Verisity, VP Sales at Jasper, both acquired by Cadence; CEO of PacketLight Received his PhD researching non- volatile memories; Founder and CEO of Tower Semi; Co-Founder of Saifun Semi Chairman of Electro Optics Systems Limited (EOS), Chairman of Audio Pixels Holdings Limited (AKP), holds a wide range of private companies worldwide Served as President and COO of Advanced Micro Devices (AMD); Chairman and CEO of RMI Served as Executive Vice President and General Manager at the Intel Architecture Group and Chief Product Officer of Intel Corporation Dr. Yoav Nissan-Cohen EXEC. DIRECTOR Atiq Raza NON-EXEC. DIRECTOR Fred Bart NON-EXEC. DIRECTOR Ashley Krongold NON-EXEC. DIRECTOR David Perlmutter CHAIRMAN CEO of the Krongold Group. Serves on the Boards and is a Director of various ASX listed companies, communal charities, foundations and organizations globally. 5 6 April 2021 Copyright 2021 Weebit Nano Ltd. PROPRIETARY
6. Strong and Experienced Management Coby Hanoch CEO MANAGEMENT Semiconductor veteran; Co-founder of Verisity, VP Sales at Jasper, both acquired by Cadence; CEO of PacketLight Amir Regev VP Technology Development Experienced specialist focused on NVM technologies, including Intel, Sandisk, Micron & Marvell. Eran Briman VP Marketing & BD Seasoned technologist turning ideas into business; IP licensing expert from CEVA & Corephotonics (acquired by Samsung) Alla Felder CFO Senior manager at PWC Israel, active board member of multiple companies in TASE & NASDAQ Ilan Sever VP R&D Experienced leader and innovator in the field of memory IP & mixed- signal SoC design from STM, Tower Semi and Dolphin Design Industry veteran, co- founder of Adesto, a pioneer of ReRAM technologies. Leader of NVM tech at Tower Semiconductor Ishai Naveh CTO 6 6 April 2021 Copyright 2021 Weebit Nano Ltd. PROPRIETARY
7. The Memory Market 6 April 2021 7 Copyright 2021 Weebit Nano Ltd. PROPRIETARY
8. Drones Artificial Intelligence Autonomous Vehicles 5G Robotics ` MEMORY at the CENTER of the DIGITAL WORLD Security Weebit’s technology enables innovation across many fast-growing markets IoT 8 6 April 2021 Copyright 2021 Weebit Nano Ltd. PROPRIETARY
9. Every Year the World uses More Memory New applications are driving an explosion in data usage leading to an increasing need for more memory * Source: Data Age 2025, with data from IDC Global DataSphere, Nov 2018 “Memory is a critical market segment in modern data-centric societies and is driven by important megatrends, such as mobility, cloud computing, artificial intelligence (AI), and the internet of things (IoT). The long-term demand… will result in memory continuing to increase its share of the overall semiconductor market.” – Yole’ Development, February 2021 Data created, captured, copied, and consumed worldwide* 0 20 40 60 80 100 120 140 160 180 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Zetabytes 175 ZB 9 6 April 2021 Copyright 2021 Weebit Nano Ltd. PROPRIETARY
10. 10 Semiconductor Segmentation: Memory-Inside Discrete Memory Embedded Memory Biz Model: Selling components, licensing IP Initial target: Replacing NOR Flash, SCM Biz mode: Licensing IP Initial target: Replacing embedded Flash 6 April 2021 Copyright 2021 Weebit Nano Ltd. PROPRIETARY
11. The Memory Market Embedded memory: Part of an SoC (System-on-a-Chip) Discrete memory chip: Contains only memory; Integrated on board Weebit’s focus ▪ Weebit is targeting both segments of the Non-Volatile Memory (NVM) market ▪ Embedded memory modules ▪ Discrete memory chips DRAM SRAM eFlash ReRAM MRAM Volatile Non-Volatile Weebit’s focus Flash ReRAM others 60 82 100 2020 2023 2025 Global NVM Market (US$B)1 1. Source: MarketsandMarkets Research Private Ltd: https://www.marketsandmarkets.com/Market-Reports/non-volatile-memory-market-1371262.html 11 6 April 2021 Copyright 2021 Weebit Nano Ltd. PROPRIETARY There is a strong need for a new memory technology to keep pace with technology developments
12. Existing Technology is Not Keeping Pace WBT ReRAM provides 100x higher endurance compared to Flash ReRAM has the potential to replace NAND flash in the future 12 6 April 2021 Copyright 2021 Weebit Nano Ltd. PROPRIETARY WBT ReRAM tech enables fabs to quickly ramp memory production *2021 article titles from EE Times, ZDNet, CNET (ordered top to bottom)
13. Weebit’s ReRAM 6 April 2021 13 Copyright 2021 Weebit Nano Ltd. PROPRIETARY
14. The Industry’s Most Cost-effective BEOL NVM Weebit’s ReRAM is made of simple fab friendly materials • BEOL technology, no interference with FEOL Two-mask adder with very few added steps • Approx. 5% added wafer cost • Easy and cost-effective integration of BEOL NVM Easily integrated into any fab using various deposition techniques to allow manufacturing flexibility • No process change, using standard manufacturing tools Rapid development by utilizing CMOS compatible process materials 6 April 2021 14 Copyright 2021 Weebit Nano Ltd. PROPRIETARY
15. ReRAM Basic Operation OXRAM – Oxygen Vacancies Filament Creation: • Forming Step - Creation of Conductive Filament (CF) • RESET (ERASE) – Partial dissolution of the CF: LRS –> HRS • SET (Program) – Recreation of the Conductive Filament: HRS->LRS • Low Resistive State - LRS • High Resistive State - HRS 6 April 2021 15 Copyright 2021 Weebit Nano Ltd. PROPRIETARY
16. The Weebit ReRAM Advantage Weebit ReRAM • ~105- 106 write cycles (Flash limited at 103-104) • 10yr retention @ 150°C • Reliable @ high temperature • Can scale to advanced process geometries, below 28/22nm • Fits any advanced SoC in any process node • Significantly more energy efficient vs. Flash – leading to longer battery life • Low operating voltage High Endurance & Reliability Highly Scalable Low Power Consumption Low Cost & Effort • Fab-friendly materials • Only two masks with very few steps • No / low CapEx • BEOL technology, easy to integrate Any Fab – No need for a specialised foundry Any Tool – No need for special tools or equipment Any Process – No need for special processes Manufacturable Anywhere 16 6 April 2021 Copyright 2021 Weebit Nano Ltd. PROPRIETARY
17. Weebit ReRAM vs. Other Technologies 6 April 2021 17 Copyright 2021 Weebit Nano Ltd. PROPRIETARY Parameter Weebit ReRAM Other ReRAM MRAM Embedded Flash Write Time 100ns 100ns 100ns 10us Power Consumption Low Low Low High Write Voltage 2-3V 2-3V 2-3V 10-12V W/E Endurance (cycles) 105-106 105-106 1012 103 -104 Retention 10yrs 10yrs 10yrs 10yrs Cost (added wafer cost calculated at various process nodes) 2 extra masks Simple stack with few layers 5-8% added cost / wafer 2 extra masks Complex processing Tool depreciation 10-20% added cost / wafer 2 extra masks Complicated stack Tool depreciation 20-50% added cost / wafer 5-10 extra masks Complex processing Cycle time 20-25% added cost / wafer Manufacturability and Capex Fab-friendly materials Standard tools Non-fab-friendly materials Dedicated tools Contamination concern Non-fab-friendly materials Dedicated tools Complicated process tuning → long time to market BEOL / FEOL Memory Technology BEOL Any Metal Layer BEOL BEOL Specific Metal Layers FEOL
18. ReRAM vs. FRAM vs. MRAM Stack MRAM Stack TiN TiN Ti SiOx Bottom electrode Top electrode Switching layer Oxide vacancies enhancement ~12nm ReRAM Stack ReRAM is much simpler (and cost-effective) stack to produce - Two layers between electrodes, compared to 11 thin layers (0.3nm!) for MRAM, 5 for FRAM - Standard materials, tools, equipment and process Pt IrO2 Pb(Zr0.4 Ti0.6 )O3 IrO2 Ir Bottom electrode Top electrode Switching layer Interface layers Interface layers FRAM Stack ~50nm Ir Ir 6 April 2021 Copyright 2021 Weebit Nano Ltd. PROPRIETARY 18
19. Technology Development 6 April 2021 19 Copyright 2021 Weebit Nano Ltd. PROPRIETARY
20. Partnership with CEA-Leti Weebit began collaboration with CEA/Leti in 2016 to develop its SiOx ReRAM Collaboration is yielding exciting results: • Mbit arrays demonstrated at 40nm technology node • Neuromorphic demo demonstrated in FMS 2019 6 April 2021 20 Copyright 2021 Weebit Nano Ltd. PROPRIETARY 1T-R 4Kb 16Kb 1Mb 2017 Mar 2018 May 2018 Jun 2018 Aug 2019 FMS AI Demo Oct 2020 Technology Stabilization
21. Progressing to Commercialization 1Mb Array Memory Module Ready for Manufacture First Commercial Agreement External Technology Validation Jun 18 Apr 19 Dec 19 Feb 20 Oct 20 Q2 21 mid 21 Process Optimization Demonstrated endurance of 1M and Retention of 10 years at 130-150oC Signed Letter of Intent with SiEn Completed Stabilization Process Embedded Memory IP Roadmap 21 6 April 2021 Copyright 2021 Weebit Nano Ltd. PROPRIETARY (with XTX Technology)
22. Module Design ▪ Integrating our ReRAM array in a complete module in 130nm technology to demonstrate IP module capabilities ▪ Design started; tape-out planned for Q2 2021 ▪ 1st silicon planned by end of 2021 ▪ The ReRAM module is further integrated into a complete subsystem based on a RISC-V processor, peripherals and I/Fs 6 April 2021 22 Copyright 2021 Weebit Nano Ltd. PROPRIETARY OxRAM Memory Module Customers can use module as platform to accelerate development of applications such as low-energy IoT devices, security and sensors
23. Progressing to Commercialization Discrete Memory Chip Roadmap Material Development Demonstrate Working Array Memory Array Integration Selector Electrical Behavior Optimization 2017 2018 2019 2020 Q3 2021 2022 2023 2024 Selector Single Bit Demonstrated Single Bit Selector + ReRAM Demonstration Technology Optimization 23 6 April 2021 Copyright 2021 Weebit Nano Ltd. PROPRIETARY
24. The Weebit Opportunity 6 April 2021 24 Copyright 2021 Weebit Nano Ltd. PROPRIETARY
25. Embedded Memory Opportunity Weebit overcomes the limitations of existing embedded NVM: ▪ Power consumption: Battery life is directly influenced by memory access ▪ Switching speed: Memory access can limit overall system performance ▪ Scalability: Advanced modern chips are fabricated below 28nm; embedded flash cannot scale Replacing current technology – embedded flash ~$26M 2020 $2.3B 2026 Embedded Emerging NVM Market Revenue ($US)* * Source (Data and Image): Yole, 2021 Embedded memory market estimated based on memory die size (i.e. value) vs. entire chip die size (i.e. ASP) eFlash eNVM 1n nm 28/22 nm 25 Note: In the Embedded market, expected gross margins are approx. 100% 6 April 2021 Copyright 2021 Weebit Nano Ltd. PROPRIETARY
26. Typical Licensing Business Model $0.5B License to fabs ▪ Manufacture License Fees: Paid upon engagement, grants rights to use process IP in target fab and process ▪ Non-Recurrent Engineering (NRE) fees: Covers costs to transfer the technology to the fab technology License to semiconductor customers ▪ IP Licensing Fees: Paid upon engagement, grants rights to use IP in customer design ▪ Royalties: Usually set as % of revenues per each chip sold ▪ Non-Recurrent Engineering (NRE) fees: Covers costs to adapt the technology to customer specific needs, varies based on the specific customer needs 6 April 2021 Copyright 2021 Weebit Nano Ltd. PROPRIETARY 26
27. Discrete NVM Market Opportunity Discrete (stand-alone) NVM market is very broad ▪ NOR Flash ▪ Mostly used for on-device code storage ▪ Broadly used in consumer, automotive, and industrial apps ▪ NAND Flash ▪ Mostly used for data storage, on-device or cloud-based ▪ Storage-Class Memory (SCM) ▪ Emerging domain, persistence memory ▪ Weebit ReRAM can win market share in all segments Weebit has various commercial routes for discrete NVM ▪ Licensing the technology to tier-1 / tier-2 silicon vendors ▪ Strategic partnership with discrete foundry ▪ Development and commercialization of own Flash chips Potential to replace existing Flash technology ~$595M 2020 $3.3B 2026 Stand-alone Emerging NVM Market Revenue ($US)* * Source: Yole, 2021 27 6 April 2021 Copyright 2021 Weebit Nano Ltd. PROPRIETARY
28. IoT: A Natural Fit for ReRAM Weebit’s ReRAM addresses KEY requirements for embedded NVM in IoT: Power, Cost, Integration & Retention in harsh conditions Billions of battery-operated edge devices require -- Lower power consumption ▪ Not feasible to change batteries frequently – or at all sometimes ▪ Flash consumes too much power for coin-cell battery and energy-harvesting IoT applications Minimized cost ▪ Weebit ReRAM is >4X lower cost compared to other emerging NVM technologies High-level of integration ▪ NVM can be easily integrated into SoC, no discrete components Retention & endurance ▪ Even in high-temperatures, for years of uninterrupted field operation By 2025* -- ▪ 55.7 B connected devices worldwide ▪ 73.1 ZB of data generated from connected IoT devices * Source: IDC Research 2021 6 April 2021 Copyright 2021 Weebit Nano Ltd. PROPRIETARY 28
29. Analog ICs: ReRAM is Ideal Analog IC characteristics ▪ Diverse set of technologies (power, mixed-signal, RF, MEMS, etc.) ▪ Increasingly require embedding low-density high-endurance NVM ▪ Support many components, most built in Front-end-of-line (FEOL), involving complicated trade-offs ▪ Support for many process nodes and derivatives The challenge ▪ e-Flash is integrated in FEOL, forcing compromise with PMIC/analog components, leading to degraded performance, larger size, and higher cost ReRAM to the rescue ▪ ReRAM is integrated in Back-end-of-line (BEOL), allowing full optimization of PMIC/analog components, so there is no impact on design rules; optimized performance and size As a low-cost, high- performance, highly scalable BEOL technology, Weebit’s ReRAM enables KEY requirements for embedded NVM in analog ICs FEOL BEOL Analog Component Integration eFlash Integration ReRAM Integration 6 April 2021 Copyright 2021 Weebit Nano Ltd. PROPRIETARY 29
30. Latest Updates & News 6 April 2021 30 Copyright 2021 Weebit Nano Ltd. PROPRIETARY
31. Recent Corporate News 6 April 2021 31 Copyright 2021 Weebit Nano Ltd. PROPRIETARY Significant Progress, Strong Balance Sheet, Preparing for 1st Commercial Agreements ▪ Discussions with potential production partners advancing ▪ Well-funded to progress development and commercialization activities following heavily oversubscribed $15 million placement and SPP ▪ Aim to accelerate key development and commercialization activities in embedded and standalone markets, as well as neuromorphic domain ▪ Further strengthened executive team with key appointments ▪ Ishai Naveh, CTO ▪ Ilan Sever, VP Research & Development ▪ Eran Briman, VP Marketing & Business Development; ▪ Included in the S&P/ASX Technology Index and the S&P/ASX All Ords Index; new analyst coverage added
32. Latest Partnership Updates Significant developments with Leti ▪ Completed stabilization process; technology ready to transfer to production fab ▪ Expanded strategic partnership to increase activities across ReRAM technologies ▪ Technology improvements, embedded memory module, and selector for standalone memory market ▪ Further refining efficiency and robustness of Weebit’s silicon oxide ReRAM technology ▪ Filed new patents with Leti to protect Weebit’s IP ▪ Optimizing ReRAM performance with programming improvements ▪ Process improvements to enable high yield and uniformity across cells/throughout wafer ▪ Enabling reduced power consumption and selector stress during read operations University research innovation ▪ Technion: Investigating use of ReRAM to revolutionize computing architectures ▪ Polimi: Ongoing collaboration around use of Weebit’s ReRAM in AI applications; already demonstrated self-learning with validated high accuracy 6 April 2021 32 Copyright 2021 Weebit Nano Ltd. PROPRIETARY
33. Looking Ahead Key Milestones Planned for Next Six Months • Completing development of memory module with enhanced functionality • Tape-out memory module by mid 2021 • Progressing discussions with potential production partners and first customers • Objective of putting in place the Company’s first commercial agreement by mid-2021 • Integrating Leti’s proprietary selector with Weebit’s ReRAM • Plan to demonstrate a working combined cell by September 2021, and a working array by Q1 FY22 6 April 2021 33 Copyright 2021 Weebit Nano Ltd. PROPRIETARY
34. ReRAM Technology for Tomorrow Mimic the brain as accurately as possible ▪ ReRAM resemblance to biological synapse ▪ Physical similarities lead to functional similarities ▪ Highly energy efficient ▪ Which make it an enabler for brain-inspired AI systems using ReRAM Weebit collaborating with research partners, both academia and industry ▪ First demonstration of ReRAM-based spiking neural networks in 2019 with partner CEA-Leti ▪ Research continues with Politecnico di Milano in Italy (Polimi), Technion in Israel, IITD in India and others Machine learning Object recognition Brain inspired computing systems 34 6 April 2021 Copyright 2021 Weebit Nano Ltd. PROPRIETARY
35. Key Takeaways WBT:ASX recently added to S&P Dow Jones ASX All Tech index Weebit’s leading ReRAM (NVM) solution can replace Flash memory Ongoing discussions with potential customers, targeting 1st agreement mid-2021 Program launched to accelerate entry into discrete memory market Technology now ready for transfer to a production fab Renowned Board and management team with extensive semiconductor commercialization experience 35 6 April 2021 Copyright 2021 Weebit Nano Ltd. PROPRIETARY Unique advantages with fab friendly materials; highly cost competitive; lowest power eNVM
36. Disclaimer This presentation contains certain statements that constitute forward-looking statements. Examples of such statements include, but are not limited to, statements regarding the design, scope, initiation, conduct and results of our research and development programs; our plans and objectives for future operations; and the potential benefits of our products and research technologies. In some cases, forward-looking statements can be identified by the use of terminology such as “may,” “will,” “expects,” “plans,” “anticipates,” “estimates,” “potential” or “continue” or the negative thereof or other comparable terminology. These statements involve a number of risks and uncertainties that could cause actual results and the timing of events to differ materially from those anticipated by these forward-looking statements. These risks and uncertainties include a variety of factors, some of which are beyond our control. All forward-looking statements and reasons why actual results may differ are based on information available to us when initially made, and we assume no obligation to update these forward-looking statements or reasons why actual results might differ or the information set forth herein. In addition, we do not make any representations or warranties, express or implied, with regard to the information included in this presentation of any other related document or information disclosed or furnished in connection thereto, including, without limitation, with respect to the accuracy, reliability, completeness or its sufficiency for any particular purpose. This information is proprietary and confidential of Weebit and is provided on a confidential basis and may not be disclosed or used without our prior written consent. You acknowledge that the disclosure and use of the information may be further prohibited under applicable securities or other laws. This presentation is made for informational purposes only and does not constitute an offer to sell any interest in Weebit not does it form the basis of any contract or agreement between the parties. Third party data This presentation includes or is otherwise based on information obtained from publicly available information, such as Data Age 2025, with data from IDC Global DataSphere Nov 2018; IC Insights 2021; IDC Research 2020; MarketsandMarkets October 2020; Yole Développement 2021; and (iii) other information publicly released by corporations and government departments. Weebit has not independently verified or audited this information or any information. Accordingly, the accuracy and completeness of such information is not guaranteed. This data has been accurately reproduced and, as far as Weebit is aware, no facts have been omitted that would render the information provided inaccurate or misleading. Investors should note that market data is inherently predictive and subject to uncertainty and is not necessarily reflective of actual market, industry and macroeconomic conditions. Specifically, there is no assurance that any of the forecasts or projections will be achieved. Forecasts and projections involve risks and uncertainties and are subject to change based on various factors, including those discussed above. 36 6 April 2021 Copyright 2021 Weebit Nano Ltd. PROPRIETARY
37. Questions?