The first half of $11.6M Microelectronics Commons funding for 5G/6G and Electronic Warfare chip technology to be received by January 2025

KISTA, Sweden, Jan. 13, 2025 /PRNewswire/ — Today, Sivers Semiconductors announced that it has successfully signed contracts for both the Electronic Warfare and 5G/6G chip development awards with the Northeast Microelectronics Coalition (NEMC) Hub through the U.S. CHIPS and Science Act. Funding is provided under the Microelectronics Commons program, executed through the Naval Surface Warfare Center Crane Division and the National Security Technology Accelerator (NSTXL).

These prestigious awards further validate Sivers’ wireless innovation as a critical enabler for mmWave technology adoption across markets. In these projects, Sivers will work with industry giants like BAE Systems, Raytheon, and Ericsson and lead the charge in commercializing RF and beamforming technology for defense and dual-use applications. 

Advance payment of roughly half of the first-year value of both programs is expected to occur by January 2025. If renewed over three years, under the discretion of future awards under the Microelectronics Commons program, the overall funding of both programs is expected to amount to approximately $30M.

“We are honored and grateful for these first two US CHIPS and Science Act funding awards and appreciate the support from the NEMC hub in helping find the right balance on associated contract structure and milestones,” said Vickram Vathulya, CEO of Sivers Semiconductors. “As we move forward with these critical portfolio projects, we remain committed to optimizing cash flow across all our development contracts, ensuring efficient working capital management while scaling our engagements.” 

“We’re proud to collaborate with our partners on advancing RF technology for 5G/6G FR3 and Electronic Warfare,” said Harish Krishnaswamy, Managing Director of the Wireless Division at Sivers Semiconductors. “FR3 represents the next leap in cellular innovation, merging the superior range of sub-6GHz with the high-speed capabilities of millimeter-waves. Additionally, we’re excited to broaden our portfolio with cutting-edge solutions for defense and electronic warfare, establishing a strong third pillar for our Wireless Division alongside SATCOM and 5G.”

“Sivers Semiconductors is a key partner as we work to expand microelectronics lab-to-fab capabilities across the Northeast,” said Mark Halfman, Director, NEMC Hub. “We are excited to collaborate on the development of critical technologies with opportunities for sustainable, positive impacts on our national security.”

About the NEMC Hub

The Northeast Microelectronics Coalition (NEMC) Hub is a network of 200+ organizations including commercial and defense companies, leading academic institutions, federally funded R&D centers (FFRDCs), and startups concentrated in eight Northeast states. Established in 2023, the Hub is one of eight regional Microelectronics Commons Hubs working to expand the nation’s global leadership in microelectronics and accelerate domestic semiconductor prototyping. The NEMC Hub is a division of the Massachusetts Technology Collaborative and was established with federal CHIPS and Science Act funding under the Microelectronics Commons program and executed through the Naval Surface Warfare Center (NSWC) Crane Division and the National Security Technology Accelerator (NSTXL). The Hub fosters a vibrant, connected microelectronics ecosystem to provide sustainable lab-to-fab enablement, boost education and workforce development, and spur new jobs. Learn more at  https://nemicroelectronics.org/

Contact
Vickram Vathulya
CEO, Sivers Semiconductors
Tel: +46 (0)8 703 68 00
Email: ir@sivers-semiconductors.com

About Sivers Semiconductors 

We are Critical Enablers of a Greener Data Economy with Energy Efficient Photonics & Wireless Solutions. Our differentiated high precision laser and RF beamformer technologies help our customers in key markets such as AI Data Centers, SATCOM, Defense and Telecom solve essential performance challenges while enabling a much greener footprint. Visit us at: www.sivers-semiconductors.com. (SIVE.ST)

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SOURCE Sivers Semiconductors

PARIS, Jan. 13, 2025 /PRNewswire/ — It is with deep sadness that iM Global Partner (iMGP) announces the passing, one month ago, of our dear friend and colleague, Philippe Uzan.

Philippe’s exceptional career in asset management spanned more than 30 years and is marked by remarkable achievements in the organizations for which he worked and deep contributions to the industry as a whole. His passing is a tremendous loss to all who knew and worked with him.

Philippe joined iM Global Partner in February 2020 as Deputy CEO and CIO Global Asset Management, responsible for overseeing our financial strategies and products and designing value-added investment solutions for our clients across Europe and the United States.

His expertise spanned all asset classes, and he had a deep understanding of markets and their impact on investors and their investment needs. He was an eloquent man who contributed a number of papers and articles to the media, always with the intention of educating and making financial concepts more relatable. He has left an indelible mark on our organization and on the broader industry.

Prior to joining iM Global Partner, Philippe was latterly Chief Investment Officer at Edmond De Rothschild Asset Management, where he worked for 11 years and where he led the portfolio management teams, optimizing the synergies between analysis and portfolio management. He previously spent three years as Research and Global Asset Allocation Director, where he developed the portfolio management and research teams and modernized investment processes and the product range.

Philippe began his career as an Equity Derivatives Trader at Société Générale and held roles at AGF Asset Management (now part of Allianz Global Investors) and Natixis AM.

Throughout his career, Philippe’s outstanding intelligence, humility, and collaborative spirit earned him the respect and admiration of his peers.

Philippe Couvrecelle, Founder and CEO of iM Global Partner, expressed his heartfelt condolences: “It was with infinite sadness and pain that I learned of Philippe’s passing from a devastating illness. I had known Philippe closely for almost 20 years, as we worked together for Natixis, Edmond de Rothschild and iMGP. I pay immense tribute to his humanity, his sense of humor, his brilliant intelligence and his presence, which I will deeply miss. We had shared so much and still had so much to do together. In his memory, we will continue our path forward with strength, success and intensity, always preserving our values and our company culture to which he was so attached.

We will all miss Philippe enormously at iM Global Partner. He will be remembered not only for his professional achievements but also for his warmth, generosity, kindness and his unwavering dedication to his colleagues and community. Our thoughts are with his wife and three children, his family, friends and loved ones during this difficult time.”

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All-time high ADV for Europe, Middle East & Africa (EMEA), Asia Pacific (APAC) and Canada

LONDON and SINGAPORE, Jan. 13, 2025 /PRNewswire/ — CME Group, the world’s leading derivatives marketplace, today announced that its international average daily volume (ADV) reached a record 7.8 million contracts in 2024, up 14% from 2023. Reflecting all trading reported outside the United States, this was driven by record growth in Energy up 31%, Metals up 27%, Agricultural up 25%, Interest Rate up 12% and Foreign Exchange products up 10% compared to the same period in 2023.

“We were especially pleased to see so many clients outside the U.S. turning to CME Group to access the markets and trade products they needed to navigate through ongoing economic and geopolitical uncertainty last year,” said Julie Winkler, Senior Managing Director and Chief Commercial Officer, CME Group. “Looking ahead, risk management will remain essential in 2025, and we are focused on helping our clients to manage risk and unlock opportunities.”

In 2024, EMEA ADV hit a record 5.8 million contracts, up 17% from 2023. This was driven by new ADV records in Energy up 40%, Agricultural up 31%, Metals up 24%, Interest Rate up 14% and Foreign Exchange products up 12% year on year.

APAC ADV grew to an all-time high of 1.7 million contracts in 2024, up 7% from 2023.  The region saw new ADV records in Agricultural up 16%, as well as Interest Rate and Foreign Exchange products, both up 3%.

Canada ADV achieved a record 164,000 contracts in 2024, with ADV records in Energy, Agricultural and Interest Rate products up 26%, 14% and 10% respectively year on year.

LatAm ADV reached 174,000 contracts in 2024. ADV of Metals and Foreign Exchange products in the region were up 42% and 19%.

Globally, CME Group reported a record ADV of 26.5 million contracts in 2024, up 9% over 2023. This was largely driven by record growth in Interest Rate ADV, up 10% to a record 13.7 million contracts. Metals, Agricultural and Foreign Exchange products also saw record growth, up 23%, 13% and 8% respectively.

As the world’s leading derivatives marketplace, CME Group (www.cmegroup.com) enables clients to trade futures, options, cash and OTC markets, optimize portfolios, and analyze data – empowering market participants worldwide to efficiently manage risk and capture opportunities. CME Group exchanges offer the widest range of global benchmark products across all major asset classes based on interest rates, equity indexes, foreign exchange, energy, agricultural products and metals.  The company offers futures and options on futures trading through the CME Globex platform, fixed income trading via BrokerTec and foreign exchange trading on the EBS platform.  In addition, it operates one of the world’s leading central counterparty clearing providers, CME Clearing. 

CME Group, the Globe logo, CME, Chicago Mercantile Exchange, Globex, and E-mini are trademarks of Chicago Mercantile Exchange Inc.  CBOT and Chicago Board of Trade are trademarks of Board of Trade of the City of Chicago, Inc.  NYMEX, New York Mercantile Exchange and ClearPort are trademarks of New York Mercantile Exchange, Inc.  COMEX is a trademark of Commodity Exchange, Inc. BrokerTec is a trademark of BrokerTec Americas LLC and EBS is a trademark of EBS Group LTD. The S&P 500 Index is a product of S&P Dow Jones Indices LLC (“S&P DJI”). “S&P®”, “S&P 500®”, “SPY®”, “SPX®”, US 500 and The 500 are trademarks of Standard & Poor’s Financial Services LLC; Dow Jones®, DJIA® and Dow Jones Industrial Average are service and/or trademarks of Dow Jones Trademark Holdings LLC. These trademarks have been licensed for use by Chicago Mercantile Exchange Inc. Futures contracts based on the S&P 500 Index are not sponsored, endorsed, marketed, or promoted by S&P DJI, and S&P DJI makes no representation regarding the advisability of investing in such products. All other trademarks are the property of their respective owners. 

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SOURCE CME Group