Everspin Technologies Enters into Foundry Services Agreement with Microchip Technology

Everspin Technologies, Inc. has entered into a ten-year Foundry Services Agreement with Microchip Technology to manufacture MRAM, TMR sensor, and STT-MRAM wafers. This agreement, effective April 8, 2026, allows Everspin to utilize Microchip's Fab 4 facility in Oregon, enhancing its on-shore manufacturing capacity and supply chain resilience. The collaboration includes provisions for tooling, initial qualification, and intellectual property ownership, with Everspin retaining ownership of product design improvements and Microchip owning process technology improvements. The agreement features minimum purchase commitments and restrictions on Microchip manufacturing for Everspin's competitors. Everspin anticipates production capacity to commence in 18-30 months, with an estimated reimbursement of $13.95 million to Microchip for setup costs. This strategic partnership aims to support the growing demand for MRAM solutions and ensure long-term supply stability.