NewswireToday - /newswire/ -
Holmes Chapel, Cheshire, United Kingdom, 2011/01/06 - SmartKem Ltd, the developer of novel printable semiconductor materials for flexible electronics today announced that the Welsh Assembly Government has awarded the company funding to further develop its flexible printed electronics solutions.
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.
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.
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.
"SmartKem is a high tech enterprise developing a highly innovative process to create flexible electronic devices which is creating significant interest in the printable electronics industry. Funding from the Assembly Government will support the company to invest further in research and development.
"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 recognised 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 (smartkem.com) is a high tech enterprise developing an exciting new technology platform 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. Based in the world class Optic Technium centre, North Wales, SmartKem's main objective is to respond to the demand for low cost, low weight, low energy, rugged electronics. The SmartKem team has proven expertise and experience in the fields of organic semiconductors, specialist ink technology, printing and laser photonics and was a recent winner of the inaugural Oxford Venturefest gold award for 'British Technology Innovation of the Year'.