MANCHESTER, England, Jan. 14,
2025 /PRNewswire/ -- Smartkem (Nasdaq: SMTK), which
is seeking to change the world of electronics using its disruptive
organic thin-film transistors (OTFTs), recapped its key
accomplishments for 2024 and set its goals 2025.
CEO Statement
Smartkem Chairman and Chief Executive Officer, Ian Jenks commented, "2024 was a pivotal year
for Smartkem. In December, we raised $7.65
million and, together with our collaboration partner, were
awarded a $1.1 million grant for a
project to develop the world's first rollable, transparent microLED
display. We uplisted to Nasdaq, increasing trading liquidity and
broadening access to investors. We made significant strides in our
plans to commercialize our proprietary semiconductor materials with
strategic partnerships and collaborations with industry-leaders. We
believe we have strengthened our position as a key player in the
market for microLED displays, as well as packaging solutions for
advanced computing and AI chips and CMOS for smart sensors. Looking
toward 2025, we are focused on achieving qualifications and design
wins with existing and new collaborations. We believe our
technology will help drive adoption of advanced display and other
technologies, with the microLED industry projected to grow from
$150 million in 2024 to over
$4 billion by 2031.1"
Smartkem 2024 Highlights:
- Entered multiple strategic partnerships and collaborations with
industry-leading display manufacturers in Asia, North
America, and Europe:
- AUO to jointly develop the world's first advanced
rollable, transparent microLED display;
- FlexiIC to develop low-cost, rapid turnaround custom
circuits using organic transistor technology and a new generation
of low-power CMOS-enabled smart sensor devices;
- ITRI (Industrial Technology Research Institute) to
enable product prototyping on its Gen 2.5 equipment;
- Chip Foundation to co-develop a new generation of
microLED-based backlight technology for Liquid Crystal
Displays;
- Shanghai Tianma
Microelectronics to develop OTFT-based microarray biochips to
amplify and process signals generated by TFT-based sensor devices;
and
- RiTdisplay to manufacture a new type of active-matrix
OLED display.
- Increased IP to 138 patents and 40 codified trade secrets,
strengthening Smartkem's competitive advantage in the rapidly
evolving organic materials electronics industry.
- Uplisted to Nasdaq.
- Awarded a grant in partnership with AUO from the 2024 Taiwan-UK
Research & Development Collaboration.
- Exhibited and presented at key trade events, including Touch
Taiwan 2024 and Display Week 2024 in San Jose, where CEO
Ian Jenks gave the DSCC / SID
Business Conference keynote speech.
2025 Goals:
- Ship the first installment of Smartkem's materials to Chip
Foundation under our collaboration to develop a new generation of
microLED-based backlight technology for Liquid Crystal
Displays.
- Sign a Joint Development Agreement (JDA) for a chip-first
microLED display.
- Complete qualification of Gen 2.5 ITRI process line.
- Enter into additional collaborations and/or co-development
agreements that further advance our technology toward
commercialization.
"We thank our stockholders for their continued support and look
forward to updating you on our progress throughout the year,"
concluded Jenks.
About Smartkem
Smartkem is seeking to reshape the
world of electronics with its disruptive organic thin-film
transistors (OTFTs) that have the potential to revolutionize the
display industry. Smartkem's patented TRUFLEX® liquid
semiconductor polymers can be used to make a new type of transistor
that can be used in a number of display technologies, including
next generation microLED displays. Smartkem's organic inks enable
low temperature printing processes that are compatible with
existing manufacturing infrastructure to deliver low-cost displays
that outperform existing technology.
Smartkem develops its materials at its research and development
facility in Manchester, UK and
provides prototyping services at the Centre for Process Innovation
(CPI) at Sedgefield, UK. It has a field application office in
Taiwan. The company has an
extensive IP portfolio including 138 granted patents across 18
patent families and 40 codified trade secrets. For more
information, visit our website or follow us on LinkedIn.
Forward-Looking Statements
All statements in this
press release that are not historical are forward-looking
statements, including, among other things, its market position and
market opportunity, expectations and plans as to its product
development, manufacturing and sales, and relations with its
partners and investors. These statements are not historical facts
but rather are based on Smartkem Inc.'s current expectations,
estimates, and projections regarding its business, operations and
other similar or related factors. Words such as "may," "will,"
"could," "would," "should," "anticipate," "predict," "potential,"
"continue," "expect," "intend," "plan," "project," "believe,"
"estimate," and other similar or elated expressions are used to
identify these forward-looking statements, although not all
forward-looking statements contain these words. You should not
place undue reliance on forward-looking statements because they
involve known and unknown risks, uncertainties, and assumptions
that are difficult or impossible to predict and, in some cases,
beyond the Company's control. Actual results may differ materially
from those in the forward-looking statements as a result of a
number of factors, including those described in the Company's
filings with the Securities and Exchange Commission. The Company
undertakes no obligation to revise or update information in this
release to reflect events or circumstances in the future, even if
new information becomes available.
1 2024 Omdia Report
Logo -
https://mma.prnewswire.com/media/2597198/SmartKem_Brand_Identity_RGB_POS___small_Logo.jpg
View original
content:https://www.prnewswire.co.uk/news-releases/smartkem-recaps-2024-achievements-and-sets-2025-goals-302349881.html
