French backing for Sequans ahead of Embedded World
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Sequans Communications has been granted financing of €10.9m from the French government to develop a chip for the 5G eRedcap IoT protocol
The backing for Sequans is part of the France 2030 initiative to support the development of technologies deemed to be strategically important to the national interest. This follows the collapse of a deal to buy the company buy Renesas Electronics of Japan.
- Loss-making Sequans says it is exploring multiple options
- Tax note prompts Renesas to end bid to buy Sequans
Sequans aims to create a new generation massive IoT chip supporting 5G NR eRedCap (5G new radio enhanced reduced capability) that meets the requirements of the 3GPP standard defined in Release 18 and beyond.
5G NR eRedCap will comply with the latest 5G NR networks and address massive IoT applications with cost-effective, low-power, and ultra-reliable connectivity required for industrial, utilities, medical, asset tracking, and automotive applications.
“We are grateful that our proposal was chosen by France 2030 as it strengthens and secures our massive IoT low-power 5G product portfolio development,” said Georges Karam, CEO of Sequans. “In addition to 5G NR eRedCap support, this new chip will be backward compatible with existing 4G networks, providing a smooth transition path from 4G to the latest 5G networks for the next ten years.”
The financing, operated for the state by Bpifrance, will be received with an upfront payment followed by three milestone payments over the duration of the project.
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