(January 5, 2011) — SmartKem Ltd, developer of novel printable semiconductor materials for flexible electronics, announced that the Welsh Assembly Government has awarded the company £335,000 in funding to further develop its flexible printed electronics solutions.
Based in Denbighshire, Wales, SmartKem is a high-technology enterprise delivering and generating a novel range of organic semiconductor molecules and ink formulations compatible with printed electronic processes. This is an inexpensive, low weight, low energy, alternative to silicon semiconductors and can be used to print organic circuits and devices onto thin flexible substrates such as plastics and paper.
Initial Venture Capital funding from Finance Wales allowed SmartKem to relocate to the world class OpTIC Technium facility in North Wales and accelerate its growth in the flexible printed electronics industry.
SmartKem has now received further recognition as an innovative company and has been awarded a grant of £335,000 from the Welsh Assembly Government. The grant will help advance the company’s vision to deliver world-leading printable semiconductor technology to the microelectronics industry for applications such as electronic displays, thin-film RFID, smart sensors and printed logic circuits.
The Welsh Assembly Government is committed to encouraging businesses to invest in R&D to stimulate innovation, which is a key driver of productivity and economic growth. Ieuan Wyn Jones, Minister for the Economy and Transport, said the Assembly Government’s strategy, "Economic Renewal: a new direction," focused support on businesses like SmartKem working in key sectors with high growth potential.
"We are extremely keen to increase the amount of innovation and R&D carried out in Wales, particularly in our key sectors, and pleased to hear how our support is helping SmartKem. It is also welcome news to hear that SmartKem was singled out for a gold award in the Venturefest 2010 Best of British Innovation Award, which recognized the company as one of the year’s most exciting technology businesses."
Steve Kelly, CEO SmartKem, comments: "We are delighted to be awarded with this grant and extremely pleased that the Welsh Assembly Government has decided to support SmartKem at such an exciting time. This is a huge boost for the company and allows us to continue our breakthrough research and development projects and further penetrate the rapidly growing printed electronics industry."
SmartKem is focusing on high-performance/high-value organic semiconductor materials that can be printed to form electronic circuits onto lightweight, rugged and low-cost polymer films. For more information on SmartKem, visit www.smartkem.com.