Sivers Semiconductors awarded SEK3.1m UK grant

Sivers Semiconductors AB (Nasdaq First North Growth Market: SIVE) today announced that it has been awarded a grant of SEK3.1m for its part in the MAG-V project aimed at developing the world's first, commercial Quantum Atomic Magnetometer.

A Quantum Atomic Magnetometer detects micro-defects in ferrous metal surfaces that are not usually visible to the human eye and can be hidden underground or behind protective or insulating coatings.

“The MAG-V project brings together the most advanced players in this field and we are very proud to take part. The Quantum Magnetometers are developed for non-intrusive corrosion detection, which is a billion-dollar market. Of course, that makes this field highly interesting,” said Anders Storm, CEO of Sivers Semiconductors.

The grant comes from Innovate UK, a government funding agency. It is awarded to Sivers Semiconductors’ Photonics business, CST Global, a wholly owned subsidiary. For more information about the MAG-V project, please see: https://www.cstglobal.uk/news

For more information, please contact:
Anders Storm, CEO
Tel: +46 70 262 6390
E-mail: anders.storm@siversima.com

Erik Penser Bank is appointed Sivers Semiconductors AB’s Certified Advisor at Nasdaq First North Growth Market.

Tel: +46 8 463 80 00

e-mail: certifiedadviser@penser.se

Sivers Semiconductors AB is a leading and internationally recognized technology company that, through its two business areas Wireless and Photonics, supplies chips and integrated modules. Wireless develops RF chips and antennas for advanced 5G systems for data and telecommunications networks. Photonics develops and manufactures semiconductor-based optical products for optical fiber networks, sensors and optical fiber communications (Li-Fi). The company is listed on Nasdaq First North Growth Market Stockholm under SIVE. The head office is located in Kista, Sweden. For more information: http://siversima.com.

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