Smartkem (NASDAQ:SMTK) Enters Collaboration Agreement with AUO for Advanced Micro-LED Display Development

Smartkem, Inc., a company specializing in organic thin-film transistor technology, announced on November 19, 2024, that its wholly owned subsidiary, SmartKem Limited, has entered into a collaboration agreement with AUO. The Collaboration Agreement sets the foundation for the joint development of an advanced rollable transparent micro-LED information screen, to be manufactured on the Industrial Technology Research Institute’s Gen 2.5 pilot line in Taiwan.

Under this agreement, both SmartKem and AUO will commence work on the project starting January 1, 2025. The Parties will independently bear the costs associated with the project and subsequently submit separate claims for grant funding reimbursements. Moreover, any intellectual property generated during the collaboration will be divided between the two Parties.

This Collaboration Agreement outlines customary representations, warranties, and confidentiality provisions and is bound to terminate either on January 1, 2028, or upon the completion of the Project. Each Party retains the option to terminate the agreement in case of a material breach that is not rectified within a specified duration or if insolvency-related events occur.

Additionally, on November 25, 2024, Smartkem issued a press release to announce the formalization of the Collaboration Agreement with AUO. The collaboration is poised to pioneer the development of a groundbreaking micro-LED display product leveraging Smartkem’s innovative technologies.

The strategic partnership between Smartkem and AUO has received a grant from the 2024 Taiwan-UK Research & Development Collaboration initiative. Supported by The Taiwanese Ministry of Economic Affairs and Innovate UK, this collaborative effort is anticipated to contribute to the enhancement of technological advancements within the display industry.

Smartkem’s disruptive organic thin-film transistors have the potential to revolutionize the display sector, offering cost-effective, thin, transparent, flexible, and lightweight solutions. The utilization of Smartkem’s low-temperature transistor technology allows processing directly on microLEDs, eliminating conventional mass transfer and laser welding processes.

Smartkem’s pioneering approach is expected to introduce a new “Chip-First” architecture to the display market. The collaboration with AUO is seen as a significant step forward for Smartkem in its journey towards commercialization and advancing micro-LED display technology using its unique platform.

This collaboration signifies a major stride in the display industry, presenting exciting possibilities for the production of next-generation micro-LED displays with enhanced performance metrics.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Smartkem’s 8K filing here.

About Smartkem

SmartKem, Inc, together with its subsidiaries, develops materials and processes used to make organic thin-film (OTFT) transistors for the manufacture of flexible electronics. The company offers TRUFLEX semiconductor and dielectric inks, which uses low temperature printing processes to make transistors for the display industry.