Everspin Technologies Expands On-Shore MRAM Manufacturing Capacity

Key Terms

magnetoresistive random access memory technical

Magnetoresistive random access memory is a type of computer memory that stores data using tiny magnetic states rather than electric charge, so it keeps information even when power is turned off. Think of each memory cell as a microscopic compass that points one way or another to represent a 0 or 1. It matters to investors because it promises faster, more durable and lower‑power storage that can simplify device designs, reduce costs over time, and disrupt established memory markets.

mram technical

MRAM is a type of computer memory that stores data using tiny magnetic bits, so it keeps information even when power is turned off. Think of it as a digital sticky note that stays attached without electricity but can be rewritten quickly and many times. Investors care because MRAM can lower device power use, simplify product design, and offer faster, longer-lasting storage, potentially changing costs and competitive positions across electronics and data-center industries.

tunnel magnetoresistive (tmr) sensor technical

A tunnel magnetoresistive (TMR) sensor is a tiny electronic device that detects magnetic fields by measuring changes in electrical resistance across an ultra-thin barrier; think of it as a narrow gate that lets more or fewer electric charges pass depending on nearby magnetism. Investors care because TMR sensors are widely used in data storage, consumer electronics, and automotive safety systems, so improvements or shortages can affect product performance, demand, and companies’ revenue prospects.

foundry services technical

Foundry services are contract manufacturing where a specialized factory produces products or components to another company's designs—most commonly semiconductor chips, but also precision parts in other industries. Investors care because a foundry's profits and cash flow depend on its production capacity, efficiency and long-term customer contracts; like renting a commercial kitchen to different chefs, higher usage and better output quality boost revenue while large equipment needs and supply constraints create risk.

international traffic in arms regulations (itar) regulatory

A U.S. export control system that regulates the sale, transfer and technical support of defense-related products and services to foreign countries and entities. Think of it as a set of permission slips and traffic signals for moving military or dual-use items across borders; failure to comply can block sales, lead to heavy fines or lost contracts, and therefore materially affect a company’s revenue, customers and stock value.

wafer technical

A wafer is a thin, round slice of semiconductor material used as the base for making computer chips and other electronic components, like a pancake or cookie dough from which many finished products are cut. Investors pay attention to wafer production because the quantity, quality and cost of wafers determine how many chips a company can sell, how fast it can scale, and how capital spending, supply shortages or manufacturing improvements will affect revenue and profit margins.

Agreement with Microchip Technology supports scalable manufacturing and on-shore long-term supply chain resilience

CHANDLER, Ariz.--(BUSINESS WIRE)-- Everspin Technologies Inc., (NASDAQ: MRAM), the world’s leading developer and manufacturer of persistent Magnetoresistive Random Access Memory (MRAM) solutions, today announced its strategic manufacturing agreement with Microchip Technology to expand production capacity and strengthen long-term supply.

Everspin has entered into an initial 10-year agreement, that can be extended in 2-year increments, with Microchip Technology to augment its onshore manufacturing capacity for MRAM and Tunnel Magnetoresistive (TMR) sensor products. The company will establish a copy exact (plus) MRAM line to manufacture MRAM and TMR sensor products currently produced at its line in Chandler, AZ.

“Everspin is expanding its manufacturing footprint to support the next phase of MRAM adoption, as customers look for both long-term supply stability and higher-density, more capable solutions,” says Sanjeev Aggarwal, President and CEO. “Our partnership with Microchip adds the production scale to support demand while continuing to advance our MRAM roadmap.”

Under the agreement, Everspin will stand up its industry leading magnetic technology and manufacturing process at a Microchip fabrication facility in Oregon. Everspin will retain ownership of the intellectual property and manufacturing process while utilizing Microchip’s foundry services capacity. This expanded capacity will leverage Everspin’s strong balance sheet and partnerships.

“Microchip is pleased to collaborate with Everspin and provide foundry services from its large and expandable manufacturing capacity in our Oregon Fab,” said Michael Finley, Senior Vice President of Microchip’s Fab Operations.

The agreement will provide Everspin and its customers with several strategic benefits:

• Increased wafer capacity to support growth plans
• On-shore second source for MRAM and TMR sensor products
• Continuity of supply lasting well into the next decade
• Additional opportunities for Everspin to continue R&D programs advancing MRAM capabilities for next generation use cases and workloads
• International Traffic in Arms Regulations (ITAR) wafer processing capabilities

Everspin will continue to manufacture MRAM and TMR sensor wafers in its Chandler, AZ facility co-located at NXP. The company plans to leverage its twenty years of MRAM production experience from Everspin’s Chandler operation as a benchmark for process bring up at Microchip ensuring a timely and seamless process installation. Everspin expects the first products to ship from the Everspin-Microchip collaboration in the second half of 2027.

About Everspin Technologies

Everspin Technologies, Inc. is the world’s leading provider of Magnetoresistive RAM (MRAM). Everspin MRAM delivers the industry’s most robust, highest performance non-volatile memory for industrial, data center, automotive, aerospace and other mission-critical applications where data persistence is essential. Headquartered in Chandler, Arizona, Everspin provides commercially available MRAM solutions to a large and diverse customer base. For more information, visit www.everspin.com. NASDAQ: MRAM.

This press release contains forward-looking statements regarding future events or results. Forward-looking statements are identified by words such as “will,” “expects” or similar expressions and include, but are not limited to, statements regarding Everspin’s anticipated business plans and business strategy. These forward-looking statements are subject to known and unknown risks, uncertainties, assumptions, and other factors that may cause actual results or outcomes to be materially different from any future results or outcomes expressed or implied by the forward-looking statements, including, without limitation, the risks set forth under the caption “Risk Factors” in Everspin’s Annual Report on Form 10-K for the year ended December 31, 2025 filed with the SEC on March 5, 2026, as well as in Everspin’s subsequent filings with the SEC. Any forward-looking statements made by Everspin in this press release speak only as of the date on which they are made, and subsequent events may cause these expectations to change. Everspin disclaims any obligations to update or alter these forward-looking statements in the future, whether as a result of new information, future events or otherwise, except as required by law.

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Source: Everspin Technologies Inc.