8 March 2019 – Weebit Nano (ASX: WBT), the Israel-based semiconductor company seeking to develop and commercialise the next generation of memory technology, have agreed to increase the consideration paid to Executive Director Dr Yoav Nissan-Cohen’s consulting company, Nicohy Ltd. under the Consulting Agreement dated 1 January 2018 between Weebit Nano and Nicohy Ltd..
Dr Nissan-Cohen will be increasing his executive time commitment with Weebit, effective immediately, providing additional services as the Company progresses its ReRAM technology to the next stage of productisation. Dr Nissan-Cohen will be applying additional time in assisting Weebit to prepare for its technology transfer to a production fab, and in discussions with potential partners.
Dr Nissan-Cohen’s consulting fees, paid through Nicohy Ltd., which is a company wholly owned by Dr Nissan-Cohen, will increase from NIS20,000 to NIS40,000 per month, in line with the increase in his time commitment.
About Weebit Nano Limited
Weebit Nano is a leader in the development of next generation computer memory technology, and plans to become the new industry standard in this space. Its goal is to address the growing need for a significantly higher performance and lower power computer memory technology. Weebit Nano’s ReRAM technology is based on fab-friendly Silicon Oxide, allowing the company to rapidly execute, without the need for special equipment or preparations. The company secured several patents to ensure optimal commercial and legal protection for its ground-breaking technology.
Weebit Nano’s technology enables a quantum leap, allowing semiconductor memory elements to be significantly cheaper, faster, more reliable and more energy efficient than the existing Flash technology. Weebit Nano has signed an R&D agreement with Leti, an R&D institute that specialises in nanotechnologies, to further develop SiOx ReRAM technology.
For more information please visit: http://www.weebit-nano.com/