Everspin Technologies Inc. (NASDAQ: MRAM) announced a manufacturing agreement with Microchip Technology to expand production capacity for magnetoresistive random access memory and tunnel magnetoresistive sensor products.

The initial 10-year agreement, which can be extended in two-year increments, will establish a production line at a Microchip fabrication facility in Oregon. Everspin will retain ownership of its intellectual property and manufacturing processes while utilizing Microchip's foundry services.

"Everspin is expanding its manufacturing footprint to support the next phase of MRAM adoption, as customers look for both long-term supply stability and higher-density, more capable solutions," said Sanjeev Aggarwal, president and CEO.

The company expects to ship the first products from this collaboration in the second half of 2027. Everspin will continue manufacturing at its existing facility in Chandler, Arizona, co-located at NXP.

The agreement provides several operational benefits, including increased wafer capacity, an onshore second source for products, supply continuity extending into the next decade, and International Traffic in Arms Regulations wafer processing capabilities.

"Microchip is pleased to collaborate with Everspin and provide foundry services from its large and expandable manufacturing capacity in our Oregon Fab," said Michael Finley, senior vice president of Microchip's fab operations.

Everspin plans to leverage its twenty years of MRAM production experience from its Chandler operation as a benchmark for the process installation at Microchip's facility. The company manufactures persistent memory solutions for industrial, data center, automotive, and aerospace applications.