Shares of EnSilica PLC (AIM:ENSI) jumped 5.5% after the company secured its first production order for an Arm-based industrial controller ASIC, which is expected to generate more than $30 million in revenue over seven years.
The contract, initially announced in July 2022, was awarded by a major European industrial OEM and involves a crucial component for factory automation systems.
EnSilica, known for its expertise in mixed-signal ASICs, announced the tape-out of this ASIC in October 2023. The first batch of the ASIC is scheduled for delivery in the first half of 2025.
In early trading, the stock was up 2.5p at 48p.