Weebit Nano is now a public company trading in the ASX

Weebit Nano logo

Israel-based RRAM developer Weebit Nano has made its debut on the Australian share market, trading under the ticker ASX:WBT, following a reverse merger with a mining company shell called Radar Iron Ltd.

As part of the share floating, Weebit raised $5 million AUD, and the company reportedly aims to raise a further $10 million AUD in the coming weeks. The company's shares started the day at 5 cents but ended it on 4 cents putting the market cap at $13.4 million AUD.

<--break->Weebit, based in Israel, is commercializing technology originally developed at Rice University. The company is currently negotiating with "major semiconductor manufacturers" regarding joint venture development. The company expects to show a commercially viable product within 18 months, and hopes to get its products on the market by 2020.

In January 2016 Weebit announced a "significant breakthrough" in its nano-porous silicon-oxide (SiOx) RRAM memory devices development. Weebit has managed to scale down its device filament (the conductive path that either allows a current to flow or not) to a sub-5nm scale, without any deterioration of performance reliability.

Posted: Aug 02,2016 by Ron Mertens