In recent trading, shares of SmartKem, Inc. (NASDAQ: SMTK) is experiencing a significant uptick, climbing 16.34% to trade $5.91 per share. This increase comes in the wake of company’s announcement regarding a strategic joint development agreement (JDA) with Shanghai Chip Foundation Semiconductor Technology Co., Ltd.
SmartKem Formed A Strategic Collaboration
Shanghai Chip Foundation Semiconductor Technology, a well-known producer of integrated circuits and semiconductors, has partnered with SmartKem. The goal of this collaboration is to develop a new generation of LCD backlight technology based on microLEDs.
As per the terms of the agreement, Redistribution Layer (RDL), a patented organic dielectric single-layer material from SmartKem, will be merged with microLED devices from Chip Foundation. The goal is to co-develop innovative microLED-based device structures that enhance display technology.
Development of High-Performance MiniLED Packages
The joint project will see SmartKem focusing on the development of insulating materials that Chip Foundation will use to integrate its microLED devices into high-performance miniLED packages.
These packages are designed to feature four microLEDs wired in series, promising high brightness and exceptional current efficiency. This advancement is expected to minimize power losses in backlight systems and improve illumination uniformity across displays.
SMTK Enhancing Commercial Viability And Future Prospects
The JDA is poised to validate SmartKem’s dielectric single-layer materials in the competitive display industry. This collaboration closely follows SMTK’s technology partnership with the Industrial Technology Research Institute (ITRI) in Taiwan, which focuses on product prototyping on ITRI’s Gen 2.5 hybrid pilot line.
Together, these alliances reflect SmartKem’s ongoing commitment to advancing its commercialization strategy. Recognized as a leading provider of organic thin-film transistor (OTFT) solutions, SmartKem brings extensive expertise in organic dielectric and semiconductor materials.
The electronic polymer platform of the firm finds use in various display technologies such as microLED, miniLED, and AMOLED displays for the upcoming television generation, laptops, smartwatches, smartphones, and virtual reality (VR) headsets.
The synergy between SmartKem’s solution coating technology and Chip Foundation’s specialized mini/microLED processes is expected to accelerate the adoption of cutting-edge display technologies in the industry.
