The Weebit Nano Ltd (ASX: WBT) share price has been a very strong performer on Friday.
In morning trade, the computer memory technology company's shares are up over 14% to $2.92.
Why is the Weebit Nano share price zooming higher?
The catalyst for the rise in the Weebit Nano share price on Friday has been the release of an announcement.
According to the release, together with its development partner CEA-Leti, Weebit Nano has demonstrated production-level parameters of its Resistive Random-Access Memory (ReRAM) technology in a 28 nanometre (nm) process.
Management believes that demonstrating production level parameters of the ReRAM technology at 28nm is a key step toward productisation of embedded Non-Volatile Memory (NVM) for a number of applications. This includes AI, autonomous driving, 5G, and advanced Internet-of-Things (IoT) processors.
The release explains that the 28nm ReRAM arrays are implemented using a small and power-efficient switching device. This takes full advantage of the low power and low voltage capabilities of the 28nm process, enabling an up to 4 times increase in memory density.
Testing of Weebit Nano's one-transistor-one-resistor (1T1R) ReRAM arrays, embedded in 28nm Fully Depleted Silicon on Insulator (FDSOI), proved its robustness with very good endurance and data retention alongside other production-level quality parameters.
Hitting the sweet spot
Weebit Nano's CEO, Coby Hanoch, was pleased with the development.
He said: "Weebit, through its close partnership with CEA-Leti, has already demonstrated the significant advantages of its ReRAM technology at larger geometries, and we have now shown that we can successfully scale this technology down to 28nm. Mark Liu, Chairman of TSMC, the world's largest fab, recently called 28nm 'the sweet spot for our embedded memory applications' since the 28nm geometry is widely deployed in a range of applications and is considered the gateway to the most advanced process nodes."
"Given the achievements we have managed in scaling down Weebit's technology to date, we believe our ReRAM technology can scale to most advanced nodes, enabling Weebit to offer a highly competitive embedded memory solution that replaces flash memory for leading-edge applications," he added.
The Weebit Nano share price is up almost 300% over the last 12 months.
