Weebit (ASX: WBT) says the Chinese-owned XTX Technology is now seeking ways to incorporate into its products the latest technologies that exhibit the “superior functionality and capability needed in more advanced applications starting to be provided today” - and believes Weebit’s SiOx ReRAM technology “has the potential to be a strong fit for their needs”.
Coby Hanoch, CEO of Weebit Nano, said: “We are very excited to engage with XTX, a leading provider of flash memory products, both inside China and around the world”.
“We jointly identified a potential for co-operation by using Weebit’s SiOx ReRAM technology to replace some of XTX’s products that are based on older technologies reaching the limits of their capability.
“In the hi-tech domain, if you don’t constantly move forward you fall behind,” said Mark Long, CEO of XTX Technology.
“We have examined many of the latest emerging memory technologies with a view to enhancing or replacing some of our products which are based on older technologies. We believe Weebit’s SiOx ReRAM technology might enable us to achieve this goal and are looking forward to this co-operation.”