WISeKey’s Semiconductor Subsidiary, SEALSQ, Completes the Development of a Test-Chip for a New RISC-V Post-Quantum Secure Hardware Platform

Rhea-AI Summary

WISeKey International Holding Ltd. (WIHN, WKEY) announces the completion of a RISC-V post quantum test-chip by its Semiconductor subsidiary SEALSQ Corp (LAES). The chip is expected to be ready for commercial use in late 2024, targeting various segments of the secure chips market. The new SEALSQ platform will align with key security benchmarks and serve various segments of the secure chips market, including TPMs, and Secure Microcontrollers dedicated to IoT, Automotive, Healthcare, and Smart Energy applications. RISC-V technology is revolutionizing the microchip industry, with the industry embracing over 10 billion RISC-V cores by the end of 2022. The secure microcontroller (MCU) market is expected to grow to US$2.2 billion by 2026, and the global trusted platform module (TPM) market size is slated to expand at ~ 13% CAGR between 2023 and 2035.

Positive

• Completion of a RISC-V post quantum test-chip by SEALSQ Corp
• Alignment of the new SEALSQ platform with key security benchmarks and serving various segments of the secure chips market
• RISC-V technology revolutionizing the microchip industry with over 10 billion RISC-V cores embraced by the end of 2022
• Expected growth of the secure microcontroller (MCU) market to US$2.2 billion by 2026
• Global trusted platform module (TPM) market size slated to expand at ~ 13% CAGR between 2023 and 2035

Negative

• None.

WISeKey’s Semiconductor Subsidiary, SEALSQ, Completes the Development of a Test-Chip for a New RISC-V Post-Quantum Secure Hardware Platform

WISeKey expects the chip to be ready for commercial use in late 2024, targeting various segments of the secure chips market.

Geneva, Switzerland – December 13, 2023: WISeKey International Holding Ltd. (“WISeKey”) (SIX: WIHN, NASDAQ: WKEY), a leader in cybersecurity, digital identity, and Internet of Things (IoT) solutions operating as a holding company, today announced that its Semiconductor subsidiary SEALSQ Corp (“SEALSQ”) (NASDAQ: LAES) completed the development of a RISC-V post quantum test-chip, an important milestone in the development of a new generation of RISC-V Quantum Resistant Secure Platform.

This new generation chip based on the RISC-V open-source core technology, is meant to align not only with today’s highest security standards like Common Criteria EAL5+ and NIST-FIPS, but also to be capable to run quantum resistant cryptographic algorithms to support next generation hybrid schemes. These include robust techniques like lattice-based and code-based cryptography, which are designed to withstand quantum computing threats.

The first commercial version of the new SEALSQ platform (sampling will start in late 2024) will align with key security benchmarks, including the widely-recognized TPM 2.0 standard set by the Trusted Computing Group (TCG). SEALSQ plans indeed to use this platform to serve various segments of the secure chips market including TPMs, and Secure Microcontrollers dedicated to IoT, Automotive, Healthcare and Smart Energy applications.

RISC-V technology is revolutionizing the microchip industry, challenging established giants and paving the way for transformative changes. By the end of 2022, the industry had already embraced over 10 billion RISC-V cores, with thousands of engineers globally contributing to RISC-V projects. According to research by Semico, this market is expected to grow at a CAGR of 70% through 2027, incorporating RISC-V elements.

The open-source nature of RISC-V, along with its scalability, energy efficiency, and customizable architecture, positions it as a versatile solution for a diverse range of applications. Its ability to foster collaboration and drive innovation, coupled with a design that's both agile and future-proof, sets RISC-V to potentially redefine industry standards and market dynamics. For more information visit https://www.nasdaq.com/articles/the-next-revolution-in-the-microchip-industry.

The secure microcontroller (MCU) market is expected to grow to US$2.2 billion by 2026, according to a new 2023 report from ABI Research. Demand for security, especially in general purpose microcontrollers, will ensure the secure MCU market continues to be a high priority for device OEMs. Strong market demand will stem from utilities and industrial IoT, and from smart cities and buildings, notably for MCUs with Trusted Execution Technologies that can securely run mission-critical and highly sensitive applications at the edge.

In parallel, the global trusted platform module (TPM) market size is slated to expand at ~ 13% CAGR between 2023 and 2035. The market is poised to garner a revenue of $6 billion by the end of 2035, up from a revenue of ~$2 billion in the year 2022, due to the growing affordability of connected devices such as laptops, smartphones, and tablets, as well as the convenience they offer with regards to communication, entertainment, and work.

About SEALSQ
SEALSQ Corp (NASDAQ: LAES) is a wholly owned subsidiary of the WISeKey Group that focuses on developing and selling Semiconductors, PKI and Post-Quantum technology hardware and software products. Our Post-Quantum solutions include Post-Quantum microchips and devices that can be used in a variety of applications, from Multi-Factor Authentication devices, Home Automation, and IT Network Infrastructure, to Automotive, Industrial Automation and Control Systems.

Post-Quantum Cryptography (PQC) refers to cryptographic methods that are secure against an attack by a quantum computer. As quantum computers become more powerful, they may be able to break many of the cryptographic methods that are currently used to protect sensitive information, such as RSA and Elliptic Curve Cryptography (ECC). PQC aims to develop new cryptographic methods that are secure against quantum attacks. For more information, visit www.sealsq.com

About WISeKey

WISeKey International Holding Ltd (“WISeKey”, SIX: WIHN; Nasdaq: WKEY) is a global leader in cybersecurity, digital identity, and IoT solutions platform. It operates as a Swiss-based holding company through several operational subsidiaries, each dedicated to specific aspects of its technology portfolio. The subsidiaries include (i) SEALSQ Corp (Nasdaq: LAES), which focuses on semiconductors, PKI, and post-quantum technology products, (ii) WISeKey SA which specializes in RoT and PKI solutions for secure authentication and identification in IoT, Blockchain, and AI, (iii) WISeSat AG which focuses on space technology for secure satellite communication, specifically for IoT applications, and (iv) WISe.ART Corp which focuses on trusted blockchain NFTs and operates the WISe.ART marketplace for secure NFT transactions.

Each subsidiary contributes to WISeKey’s mission of securing the internet while focusing on their respective areas of research and expertise. Their technologies seamlessly integrate into the comprehensive WISeKey platform. WISeKey secures digital identity ecosystems for individuals and objects using Blockchain, AI, and IoT technologies. With over 1.6 billion microchips deployed across various IoT sectors, WISeKey plays a vital role in securing the Internet of Everything. The company’s semiconductors generate valuable Big Data that, when analyzed with AI, enable predictive equipment failure prevention. Trusted by the OISTE/WISeKey cryptographic Root of Trust, WISeKey provides secure authentication and identification for IoT, Blockchain, and AI applications. The WISeKey Root of Trust ensures the integrity of online transactions between objects and people. For more information on WISeKey’s strategic direction and its subsidiary companies, please visit www.wisekey.com.

Press and investor contacts:
WISeKey International Holding Ltd
Carlos Moreira
Chairman & CEO
Tel: +41 22 594 3000 / info@wisekey.com

WISeKey Investor Relations (US)
The Equity Group Inc.
Lena Cati
Tel: +1 212 836-9611 / lcati@equityny.com
Katie Murphy
Tel: +1 212 836-9612 / kmurphy@equityny.com

Disclaimer:
This communication expressly or implicitly contains certain forward-looking statements concerning WISeKey International Holding Ltd and its business. Such statements involve certain known and unknown risks, uncertainties and other factors, which could cause the actual results, financial condition, performance or achievements of WISeKey International Holding Ltd to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. WISeKey International Holding Ltd is providing this communication as of this date and does not undertake to update any forward-looking statements contained herein as a result of new information, future events or otherwise.

This press release does not constitute an offer to sell, or a solicitation of an offer to buy, any securities, and it does not constitute an offering prospectus within the meaning of the Swiss Financial Services Act (“FinSA”), the FInSa’s predecessor legislation or advertising within the meaning of the FinSA. Investors must rely on their own evaluation of WISeKey and its securities, including the merits and risks involved. Nothing contained herein is, or shall be relied on as, a promise or representation as to the future performance of WISeKey.

FAQ

What did WISeKey International Holding Ltd. announce?

WISeKey International Holding Ltd. announced the completion of a RISC-V post quantum test-chip by its Semiconductor subsidiary SEALSQ Corp.

When is the chip expected to be ready for commercial use?

The chip is expected to be ready for commercial use in late 2024.

What segments of the secure chips market is the new SEALSQ platform targeting?

The new SEALSQ platform will serve various segments of the secure chips market, including TPMs, and Secure Microcontrollers dedicated to IoT, Automotive, Healthcare, and Smart Energy applications.

What is the expected growth of the secure microcontroller (MCU) market?

The secure microcontroller (MCU) market is expected to grow to US$2.2 billion by 2026.

What is the projected expansion rate of the global trusted platform module (TPM) market?

The global trusted platform module (TPM) market size is slated to expand at ~ 13% CAGR between 2023 and 2035.