Multi Project Wafer ("MPW") design sent to US manufacturing partner
With reference to the stock exchange notice dated 14th of July 2022
Lokotech AS, a wholly owned subsidiary of Harmonychain AS, has today been informed by the company's design partners that the design for the Multi Project Wafer - Application Specific Integrated Circuit ("MPW-ASIC") has been sent to the production partner well in advance of the deadline for participation at MPW with a planned start on 9 November.
Dry runs have been carried out repeatedly; internally and with the production partner, and the design is considered "DRC-clean". This means that no critical errors have been uncovered, and any errors have been rectified and other risks reduced. However, the design has been improved during the process. These could lead to performance improvements, reduction of power consumption, and/or a reduction in the size of a commercial ASIC, which would directly improve production costs. If performance or power consumption should change significantly from the simulations communicated in the stock exchange announcement on the 8th of June 2022, we will update the market.
When final acceptance is confirmed from the production partner, we will update the market. This is expected in the near future.
It is expected to have the MPW ASICs back for subsequent testing and stress testing in the first half of 2023. Lokotech AS would like to state that functionality, efficiency and estimates of production costs will not be available with accuracy until the MPW is physically proven and the commercial ASIC is designed. Production costs also depend to a large extent on volume.
"We have been looking forward to being able to inform you about our MPW participation, and that prototypes will be available within a reasonable time. Lokotech will now focus on scaling the company's sales in the time leading up to mass production. If the product is realized as we expect, it will have a drastic impact profitability for miners who secure Scrypt networks, and the security of those networks. In addition, there could be further possible commercial opportunities when developing the AI functionality for the company based on the same chip," comments CEO Ola Stene-Johansen.
This information is subject of the disclosure requirements acc. To section 5-12 of the Securities Trading Act.
This information constitutes inside information and is subject of the obligation to provide information in according to the Market Abuse Regulation (MAR). The message is published on behalf of Harmonychain AS by Ola Stene-Johansen, CEO, at 11.15, 9th of November 2022.