Smartkem Recaps 2024 Achievements and Sets 2025 Goals

MANCHESTER, England, Jan. 14, 2025 /PRNewswire/ -- Smartkem (Nasdaq: SMTK), which is seeking to change the world of electronics using its disruptive organic thin-film transistors (OTFTs), recapped its key accomplishments for 2024 and set its goals 2025.

CEO Statement
Smartkem Chairman and Chief Executive Officer, Ian Jenks commented, "2024 was a pivotal year for Smartkem. In December, we raised $7.65 million and, together with our collaboration partner, were awarded a $1.1 million grant for a project to develop the world's first rollable, transparent microLED display. We uplisted to Nasdaq, increasing trading liquidity and broadening access to investors. We made significant strides in our plans to commercialize our proprietary semiconductor materials with strategic partnerships and collaborations with industry-leaders. We believe we have strengthened our position as a key player in the market for microLED displays, as well as packaging solutions for advanced computing and AI chips and CMOS for smart sensors. Looking toward 2025, we are focused on achieving qualifications and design wins with existing and new collaborations. We believe our technology will help drive adoption of advanced display and other technologies, with the microLED industry projected to grow from $150 million in 2024 to over $4 billion by 2031.¹"

Smartkem 2024 Highlights:

• Entered multiple strategic partnerships and collaborations with industry-leading display manufacturers in Asia, North America, and Europe:
  • AUO to jointly develop the world's first advanced rollable, transparent microLED display;
  • FlexiIC to develop low-cost, rapid turnaround custom circuits using organic transistor technology and a new generation of low-power CMOS-enabled smart sensor devices;
  • ITRI (Industrial Technology Research Institute) to enable product prototyping on its Gen 2.5 equipment;
  • Chip Foundation to co-develop a new generation of microLED-based backlight technology for Liquid Crystal Displays;
  • Shanghai Tianma Microelectronics to develop OTFT-based microarray biochips to amplify and process signals generated by TFT-based sensor devices; and
  • RiTdisplay to manufacture a new type of active-matrix OLED display.
• Increased IP to 138 patents and 40 codified trade secrets, strengthening Smartkem's competitive advantage in the rapidly evolving organic materials electronics industry.
• Uplisted to Nasdaq.
• Awarded a grant in partnership with AUO from the 2024 Taiwan-UK Research & Development Collaboration.
• Exhibited and presented at key trade events, including Touch Taiwan 2024 and Display Week 2024 in San Jose, where CEO Ian Jenks gave the DSCC / SID Business Conference keynote speech.

2025 Goals:

• Ship the first installment of Smartkem's materials to Chip Foundation under our collaboration to develop a new generation of microLED-based backlight technology for Liquid Crystal Displays.
• Sign a Joint Development Agreement (JDA) for a chip-first microLED display.
• Complete qualification of Gen 2.5 ITRI process line.
• Enter into additional collaborations and/or co-development agreements that further advance our technology toward commercialization.

"We thank our stockholders for their continued support and look forward to updating you on our progress throughout the year," concluded Jenks.