CHANDLER, AZ, May 1, 2026 – Everspin Technologies has signed a $40 million agreement with a U.S. prime contractor to provide Toggle MRAM technology and engineering services for United States Defense Industrial Base customers.
“This work builds on Everspin’s long history supporting U.S. DoW programs where performance, reliability, longevity and U.S. domestic production are critical,” said Sanjeev Aggarwal, president and chief executive officer of Everspin Technologies. “Everspin’s MRAM solutions are used in military and aerospace applications because they deliver consistent performance over time, and this work allows us to continue advancing technology to meet evolving program requirements.”
Under the agreement, Everspin is a subcontractor on an existing contract. The company will provide engineering and foundry services for the U.S. Department of War (DoW).
Everspin’s foundry services agreement with Microchip expands its U.S.-based manufacturing capability. The company expects that capacity to support future production for these programs. The agreement is valued at an aggregate of $40 million over two and a half years.
Source: Everspin Technologies
About Everspin Technologies
Everspin Technologies is a semiconductor company that develops and manufactures magnetoresistive random-access memory, or MRAM, products for electronic systems. Founded in 2008, the company produces discrete MRAM and spin-transfer torque MRAM memory devices used in computing and embedded applications. Its products store data using magnetic properties and retain information when system power is removed. Everspin also licenses embedded MRAM technology and provides foundry support for semiconductor manufacturing partners. Customers include semiconductor manufacturers, equipment makers and system designers in industrial, automotive, aerospace and data center markets. The company supplies memory products for applications requiring persistent data storage during power interruptions. Everspin Technologies operates engineering and manufacturing activities supporting semiconductor supply chains worldwide. The company is headquartered in Chandler, Arizona, United States. Everspin employs about 100 people globally.