Smartkem Completes First Sale Of TRUFLEX Materials To Chip Foundation

(RTTNews) - Smartkem (SMTK), a pioneer in organic thin-film transistors aiming to revolutionize electronics, has announced its first sale of TRUFLEX semiconductor materials.

The materials were supplied to its joint development partner, Shanghai Chip Foundation Semiconductor Technology Co., Ltd. Chip Foundation, a manufacturer of semiconductor and integrated circuit devices. The collaboration focuses on co-developing a next-generation microLED-based backlight technology for Liquid Crystal Displays.

As part of the partnership, Smartkem is providing its proprietary organic dielectric single-layer material, also known as the Redistribution Layer, to Chip Foundation. This material will be integrated with Chip Foundation's microLED devices to jointly develop innovative microLED-based device structures.

The resulting chips are expected to deliver high brightness, improved current efficiency, reduced power losses, and enhanced illumination uniformity, paving the way for more efficient and advanced backlight technology.

SMTK closed Thursday's trading at $3.80, down 8.43 percent or $0.35 on the Nasdaq.