QuickLogic Awarded a $6.9 Million Base Contract to Develop Strategic Radiation Hardened FPGA Technology

Rhea-AI Summary

QuickLogic Corporation (NASDAQ: QUIK) has secured a $6.9 million Base Contract from the US Government to develop Strategic Radiation Hardened FPGA technology. This project, sponsored by the DoD's Trusted and Assured Microelectronics Program, begins this month and could expand to $72 million through additional options over multiple years. The company will collaborate with SkyWater Technologies, Everspin Technologies, and others, focusing on high-reliability applications for defense systems.

Positive

• Awarded a $6.9 million Base Contract from the US Government.
• Potential to increase to $72 million through additional options.
• Collaboration with notable partners like SkyWater Technologies and Everspin Technologies.

Negative

• None.

Contract allows for Options totaling up to $72 million over the span of multiple years

SAN JOSE, Calif., Sept. 8, 2022 /PRNewswire/ -- QuickLogic Corporation (NASDAQ: QUIK), a developer of ultra-low power multi-core voice-enabled SoCs, embedded FPGA IP (eFPGA), and Endpoint AI solutions, today announced it has been awarded a $6.9 million Base Contract, beginning this month, to develop and demonstrate Strategic Radiation Hardened (SRH), high reliability Field Programmable Gate Array (FPGA) technology to support identified and future Department of Defense (DoD) strategic and space system requirements. The SRH FPGA Other Transactions Authority (OTA) agreement is with the Army Contracting Command – Rock Island (ACC-RI) under the authority of the Cornerstone OTA and will be based on a microelectronic fabrication process implemented at a US-owned and continental US (CONUS)-based manufacturing facility. The project is sponsored by DoD's Trusted and Assured Microelectronics (T&AM) Program, and Naval Surface Warfare Center (NSWC) Crane is the Government's technical lead.

"QuickLogic is honored to have been chosen by the US Government to lead this highly specialized and mission critical program," said Brian Faith president and CEO of QuickLogic. "This project builds on the company's 30+ year heritage of delivering FPGA technology to the Aerospace and Defense community while operating in some of the most rugged environments."

QuickLogic will lead the execution on the Base Contract through collaboration with a team composed primarily of SkyWater Technologies, Everspin Technologies, and Trusted Semiconductor Solutions. 

Upon successful performance of the Base, and at the discretion of the US Government, the Contract allows for Options totaling approximately $72 million over the span of multiple years. If the Options are executed, QuickLogic expects to expand the group of companies with which it will collaborate.

Developing and deploying strategic radiation hardened microelectronics requires creating and sustaining a trained cohort of engineers with a unique skillset both within the DoD and across the broader Defense Industrial Base (DIB). With that goal in mind, meaningful development contributions are expected from Indiana University and other universities.

QuickLogic will primarily perform work on the program at its facilities in San Jose, California.

About QuickLogic
QuickLogic Corporation (NASDAQ: QUIK) is a fabless semiconductor company that develops low power, multi-core semiconductor platforms and Intellectual Property (IP) for Artificial Intelligence (AI), voice and sensor processing. The solutions include embedded FPGA IP (eFPGA) for hardware acceleration and pre-processing, and heterogeneous multi-core SoCs that integrate eFPGA with other processors and peripherals. The Analytics Toolkit from our recently acquired wholly owned subsidiary, SensiML Corporation, completes the end-to-end solution with accurate sensor algorithms using AI technology. The full range of platforms, software tools and eFPGA IP enables the practical and efficient adoption of AI, voice, and sensor processing across mobile, wearable, hearable, consumer, industrial, edge and endpoint IoT. For more information, visit www.quicklogic.com and www.quicklogic.com/blog.

The QuickLogic logo and QuickLogic are registered trademarks of QuickLogic Corporation. All other brands or trademarks are the property of their respective holders and should be treated as such.

 

View original content to download multimedia:https://www.prnewswire.com/news-releases/quicklogic-awarded-a-6-9-million-base-contract-to-develop-strategic-radiation-hardened-fpga-technology-301620271.html

SOURCE QuickLogic Corporation

FAQ

What is QuickLogic's recent contract with the US Government about?

QuickLogic has been awarded a $6.9 million Base Contract to develop Strategic Radiation Hardened FPGA technology, with potential total options worth up to $72 million.

How much is the Base Contract QuickLogic received?

The Base Contract awarded to QuickLogic is valued at $6.9 million.

What is the total potential value of QuickLogic's contract options?

The total potential value of QuickLogic's contract options is approximately $72 million.

What date was QuickLogic's contract announcement made?

The contract announcement was made on September 8, 2022.

Which government program is sponsoring QuickLogic's FPGA project?

The project is sponsored by the Department of Defense's Trusted and Assured Microelectronics Program.