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Israeli Tech Startup Building 1 Terabyte Smartphones – Listing on ASX

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Tuesday, March 22nd, 2016

To solve the problem of limited storage, Weebit Nano has developed new technology to increase device storage, and it is already having impact in Australia.

Weebit has specifically developed Resistive Random-Access-Memory (ReRAM) technology to memory platforms. This pioneering memory technology outperforms Flash on storage capability and price. The technology can be applied to computer storage for smaller devices such as smartphones. The ‘nano-porous Si ReRAM’ is of less than 5 nanometres in scale, allowing more storage in smaller spaces. The company hopes it can provide storage space of up to 1 terabyte in smartphones without any impact on size.

The company has brought on a major Intel Board Member as non-executive director effective April 1, 2016. David Perlmutter, the former executive vice president and general manager of Intel Architecture Group, and chief product officer of Intel has joined the board of soon-to-be listed tech company Weebit Nano.

“WeeBit Nano’s technology has great potential, with opportunities in various categories: the low-power and high-density potential allows it to be a major game-changer in growing parts of the digital revolution,” he said.

“What I bring [to WeeBit Nano] is a deep knowledge and experience in the semiconductor industry, that spans across many aspects, from watching over complexity, advising management, connections and help in strategy creation,” Perlmutter added.

The Israeli tech startup is currently in the middle of a reverse takeover with Australian mining company Radar Iron who is acquiring 100% of the company. Currently the global market for flash storage is worth $US38 billion annually.

For more information on Weebit, see the website.