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23/12/20
19:24
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Originally posted by Fact Finder:
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BrainChip Signs First Akida™ Intellectual Property License Agreement _____________________________________________________________________________ • BrainChip to deliver Akida 1.0 neural network intellectual property (IP) for use in customer’s system-on-chip (SoC) licensed products • Agreement includes a single-use design license, implementation support, per unit royalty and ongoing software maintenance services ______________________________________________________________________________ Aliso Viejo, Calif. – 23 December 2020 – BrainChip Holdings Ltd (ASX: BRN), a leading provider of ultra-low power, high-performance AI technology, today announced the signing of an intellectual property license agreement with Renesas Electronics America Inc., a subsidiary of Japan-based Renesas Electronics Corp., a tier-one semiconductor manufacturer that specializes in microcontroller and automotive SoC products. The unconditional agreement provides for: • a single-use, royalty-bearing, worldwide IP design license for the rights to use the Akida™ IP in the customer’s SoC products, which continues while the customer continues to use the Akida IP in its products. The parties agreed to customary termination terms; • BrainChip to provide implementation support services (at an agreed fee to cover costs) aimed at facilitating the customer’s adoption and commercialization of the Akida-licensed product during the first year of the license agreement. • The agreement provides for various payment terms including the payment of ongoing royalties based on the volume of units sold, commencing at certain agreed volume threshold and the net sale price of the customer’s products. The royalties remain in effect throughout the life of the licensed product. • Brainchip to provide software maintenance services, which attract a separate fee if the customer elects to continue to use these services after the first two years of the agreement. The Akida neural processor’s game-changing ultra-low power consumption, high performance and on-chip training enables smart sensor integration by solving power and footprint challenges for a variety of sensor technologies. The Akida SoC consumes significantly lower power than needed by alternative AI solutions while maintaining the required performance and accuracy in a fraction of the physical space. “This is an exciting and significant milestone in obtaining the Company’s first IP licensing agreement. Furthermore, this is a market validation of our technology” said Lou DiNardo, CEO of BrainChip. “Licensing Akida IP also provides us with an opportunity for recurring revenue over the lifetime of our customer’s SoC product. We are equipped to help additional customers integrate Akida technology into their products, which benefit from low power and real-time performance, as well as extend capabilities to provide AI solutions to IoT devices at the edge without the need for cloud connectivity.”
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I just had the strangest emotion after this announcement, almost like fear. If this is just one of a multitude of similar announcements Brainchip is going to be absolutely massive. Although I always thought I new the reality just hit me like a thunderbolt!!!!!, this really could change my life!!!