Everspin signs 10-year foundry deal with Microchip for on-shore MRAM wafer production in Oregon

EVERSPIN TECHNOLOGIES INC.

10-year foundry deal with Microchip Technology for 8-inch MRAM, TMR sensor, and STT-MRAM wafers at Microchip's Oregon Fab 4.
Everspin to reimburse Microchip estimated $13.95M in two phases for tooling relocation, setup, and qualification costs.
First product shipments expected H2 2027; Toggle/Sensor wafer capacity in ~18 months, STT capacity in ~30 months from April 8, 2026.
Minimum purchase commitments ramp to 1,300 wafers per quarter; shortfall payment required in cash within 45 days.
Everspin retains ownership of product-design IP; Microchip owns process-technology IP; mutual cross-licenses for respective fields.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

EVERSPIN TECHNOLOGIES INC. entered into Foundry Services Agreement with Microchip Technology valued at Estimated total reimbursement of approximately $13.95 million in two phases for costs; minimum purch (effective 2026-04-08).

Action: entry
Agreement: supply
Counterparty: Microchip Technology
Value: Estimated total reimbursement of approximately $13.95 million in two phases for costs; minimum purch
Effective: 2026-04-08

Exact text from the filing

On April 8, 2026, Everspin Technologies, Inc. (the “Company”) and Microchip Technology (“Microchip”) entered into a Foundry Services Agreement (the “Agreement”). Under the Agreement, Microchip will manufacture 8-inch Magnetoresistive Random Access Memory (“MRAM”), Tunnel Magnetoresistive (“TMR”) sensor, and Spin-transfer Torque (“STT”) MRAM wafers for the Company at Microchip’s Fab 4 facility located in Gresham, Oregon.

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Source: SEC EDGAR

accession 0001628280-26-024696

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