The company has signed collaboration agreements with potential customers across
Management has an impressive track record of meeting or exceeding development timelines. The ongoing COVID-19 crisis has impacted the operations of WBT, but the company is committed to not delaying the project timelines beyond the delays caused by COVID-19.
WBT plans to demonstrate its ReRAM cell for the discrete memory market by mid-2021.
The company recently raised
The funds raised will be vital to simultaneously support the growth plans for the embedded and discrete memory modules.
We believe tight budgets and a low share price have held back WBT's progress in recent months. The fresh funds should help the company drive its development programs full speed ahead.
Promising market for ReRAM applications
We expect that embedded ReRAM applications will present the first commercialisation opportunities for WBT.
The market for embedded ReRAM is expected to post strong, long-term growth as it starts complementing some of today's mainstream memory technologies, such as NOR Flash and SRAM with the potential to replace NOR Flash in certain applications.
Additionally, we believe entry into the discrete memory segment, driven by the XTX Technology collaboration, has exponentially expanded WBT's total addressable market.
Valuation of
WBT is moving rapidly towards commercialisation, with the expected delivery of its first memory module by end-2020.
Its strong partnerships and focus on continuous technical refinement through its French development Partner Leti, strengthen the investment case.
Following WBT's recent capital raise and share issue, we adjust our valuation to
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