TIDMIQE
IQE PLC
26 June 2020
IQE plc
RNS Reach
Cardiff, UK
26 June 2020
IQE plc (AIM: IQE, "IQE" or the "Group"), the leading
manufacturer of advanced semiconductor wafer products for the
global semiconductor industry, today welcomes the UK Government's
approval of a major GBP43.74m project with South Wales' compound
semiconductor cluster. This comes as part of the first wave of
funding through UK Research and Innovation's flagship Strength in
Places Fund (SIPF).
The project's twelve partners include key Welsh Anchor Companies
(IQE plc, Newport Wafer Fab (NWF) and SPTS), two universities (lead
partner Cardiff University and Swansea University), CSC and several
government organisations, including the Compound Semiconductor
Applications Catapult.
The initiative is one of seven chosen to be supported by the UK
Government as part of a broader GBP400m investment programme being
announced today.
The CSConnected project is based around integrating research
excellence with the unique regional supply chains in advanced
semiconductor manufacturing.
Compound semiconductors are critical components across a wide
range of new technologies and the primary aim of the CSConnected
project is to develop a competitive advantage in key enabling
technologies which will allow the UK to increase trade globally in
critical sectors such as optical communications, 5G, autonomous and
electric vehicles, aerospace, robotics and medical devices.
Secretary of State for Business, Energy and Industrial Strategy,
Alok Sharma, said:
"Today's announcement will ensure some of our country's most
promising R&D projects get the investment they need to take off
and thrive.
Working with the private sector our world-class universities,
we're backing new and innovative ideas that will create jobs and
boost skills in every part of the UK for years to come."
Dr Drew Nelson, Chief Executive Officer of IQE, commented :
"The UK has a huge opportunity to put high-tech manufacturing at
the heart of its industrial strategy and supercharge economic
growth. The UK leads the world in the design and manufacturing of
compound semiconductor wafers. This funding from the UK Government
is welcome and serves as recognition of the potential of the
cluster which remains the world's first for compound
semiconductors, and will be crucial in helping the UK to fulfil its
technology potential. Compound semiconductors are the most advanced
semiconductor materials available with a range of unique
properties, and will be at the heart of almost every major
industrial sector of the 21(st) century".
IQE has become a regional flagship for the global compound
semiconductor industry in Wales since it was established more than
30 years ago, and has been the key driver in championing the
formation of CSConnected.
Despite its global footprint, IQE has firm roots in Wales. The
company is headquartered in Cardiff and has made a major commitment
to the region with its investment in a new facility in Newport
which will become the world's largest compound semiconductor
epi-foundry.
The Strength in Places (SIP) programme is a multi-year project
that aims to strengthen the South Wales' cluster on the world
stage. IQE will continue to play a key role in establishing world
leading technologies for next generation applications.
The GBP43m SIP investment includes four key collaborative
research and development projects, one of which will be led by IQE,
but the company will play an important role in materials
development across each of the four projects.
Dr Wyn Meredith, CSC and lead author of the SIPF application,
commented:
"Today's announcement is excellent news for Wales and the UK,
providing a unique opportunity to harness the excellent research
and innovation capabilities in a way that translates into
world-class UK based manufacturing for new and emerging global
technology markets".
Contacts:
IQE plc
+44 (0) 29 2083 9400
Drew Nelson
Tim Pullen
Amy Barlow
CSconnected
Chris Meadows - chrismeadows@csconnected.com
Cardiff University (Lead partner for CSconnected programme):
JeffriesHV1@cardiff.ac.uk
Headland Consultancy (Financial PR)
+ 44 (0) 20 38054822
Andy Rivett-Carnac: +44 (0) 7968 997 365
Tom James: +44 (0)78 1859 4991
ABOUT IQE
http://iqep.com
IQE is the leading global supplier of advanced compound
semiconductor wafers and materials solutions that enable a diverse
range of applications across:
-- handset devices
-- global telecoms infrastructure
-- connected devices
-- 3D sensing
As a scaled global epitaxy wafer manufacturer, IQE is uniquely
positioned in this market which has high barriers to entry. IQE
supplies the whole market and is agnostic to the winners and losers
at chip and OEM level. By leveraging the Group's intellectual
property portfolio including know-how and patents, it produces
epitaxy wafers of superior quality, yield and unit economics.
IQE is headquartered in Cardiff UK, with c. 650 employees across
nine manufacturing locations in the UK, US, Taiwan and Singapore,
and is listed on the AIM Stock Exchange in London.
ABOUT CSCONNECTED
CSconnected represents the world's first global centre of
excellence for Compound Semiconductors, a unique eco-system of high
technology capability leading the way in applied research, advanced
applications, collaborative innovation putting Wales and the UK at
the forefront of new and emerging material and device to
market.
CSconnected is a cluster of academic institutions, innovation
organisations and industrial partners collaborating to providing
thought leadership and expertise to foster and promote the role of
Compound Semiconductors as a key enabling technology.
Visit www.csconnected.com to learn more, and connect with us on
LinkedIn and Twitter.
ABOUT UK RESEARCH AND INNOVATION
UK Research and Innovation works in partnership with
universities, research organisations, businesses, charities, and
government to create the best possible environment for research and
innovation to flourish. We aim to maximise the contribution of each
of our component parts, working individually and collectively. We
work with our many partners to benefit everyone through knowledge,
talent and ideas.
Operating across the whole of the UK with a combined budget of
more than GBP7 billion, UK Research and Innovation brings together
the seven research councils, Innovate UK and Research England.
www.ukri.org
ABOUT STRENGTH IN PLACES FUND
Led by UK Research and Innovation, Strength in Places Fund
(SIPF) is a competitive funding scheme that takes a place-based
approach to research and innovation funding, to support significant
local economic growth.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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