Creation of a commercial pilot line at RiTdisplay is a
significant step towards commercialization of Smartkem's OTFT
technology
MANCHESTER, England, March 24,
2025 /PRNewswire/ -- Smartkem (Nasdaq: SMTK), which
is seeking to change the world of electronics with a new class of
transistor technology, has announced a memorandum of understanding
with RiTdisplay Corporation, a leading developer of optoelectronic
solutions, visual displays and passive-matrix OLED displays, to
evaluate the integration of Smartkem's organic thin-film transistor
(OTFT) process on RiTdisplay's Gen2.5 pilot line to expand
Smartkem's product prototyping capability.
The memorandum of understanding is a significant progression in
the collaboration work between Smartkem and RiTdisplay, which
started with an initial joint development agreement in 2021, and
includes the 2024 commencement of a UK and Taiwanese government
grant-funded project to develop the world's first commercially
ready active-matrix OLED display using OTFT technology. Under the
memorandum of understanding, product prototyping capabilities will
be transferred from the Industrial Technology Research Institute
(ITRI)'s Gen2.5 line to a newly integrated Gen2.5 pilot line
at RiTdisplay. The parties expect that the RiTdisplay line will be
available for use in the second half of 2025.
RiTdisplay GM Robert Chen said,
"This phase of our collaboration marks a major milestone forward in
delivering a new generation of AMOLED displays to the global market
and reinforces the commitment of both companies to innovation and
commercial excellence. We look forward to delivering customer
demonstrations later this year and accelerating the market adoption
of OTFT-based AMOLED displays in multiple end markets. RiTdisplay
remains committed to driving innovation across multiple display
technologies, including PMOLED and OTFT. This collaboration with
Smartkem allows us to explore new possibilities while continuing to
enhance our core technologies."
Smartkem Chairman and CEO Ian
Jenks said,"This is a major step forward in our strategy to
commercialize our unique transistor technology. Once complete, we
will be able to provide product prototying of the world's first
commercially ready AMOLED display using OTFT
technology on a commercial Gen2.5 OTFT product
manufacturing line at RiTdisplay's existing state-of-the-art
facility in Hsinchu, Taiwan."
The memorandum of understanding is non-binding and there
can be no assurance as to whether or when a definitive agreement
will be executed by the parties or as to the ultimate terms of any
such agreement.
About Smartkem
Smartkem is seeking to change the world of electronics with
a new class of transistor using its proprietary advanced
semiconductor materials that have the potential to revolutionize
the display industry. Smartkem's TRUFLEX® semiconductor
technology enables low temperature printing processes that are
compatible with existing manufacturing infrastructure with the
potential to deliver low-cost, high performance displays in a range
of display technologies including microLED, miniLED and AMOLED, as
well as applications in sensors and logic.
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 17
patent families, 17 pending patents and 40 codified trade secrets.
For more information, visit our website or follow us on
LinkedIn.
About RiTdisplay Corporation
RiTdisplay is the world's
leader of passive matrix organic light emitting diode (PMOLED).
RiTdisplay not only holds the world's largest PMOLED production
capacity, but also supplies its product to multiple Tier 1
customers around the world. With its main applications ranging from
smart appliances, medical devices, set-top boxes, wearables,
industrial instruments, to AIOT products.
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.
Logo
- https://mma.prnewswire.com/media/2597198/5229938/SmartKem_Brand_Identity_RGB_POS___small_Logo.jpg
Contacts:
Selena Kirkwood
Head of Communications for Smartkem
T: +44 (0) 7971 460 364
s.kirkwood@smartkem.com
U.S. Investors
David Barnard, CFA
Alliance Advisors Investor Relations
T: 1 415 433 3777
dbarnard@allianceadvisors.com
View original
content:https://www.prnewswire.co.uk/news-releases/smartkem-signs-memorandum-of-understanding-with-ritdisplay-to-integrate-smartkems-otft-process-into-its-gen2-5-line-302409245.html
