Smartkem (NASDAQ: SMTK) shares gained ground Thursday. The company out of Manchester, England, which is “seeking to change the world of electronics using its disruptive organic thin-film transistors”, has signed a multi-year agreement with FlexiIC, a company providing innovation in the design of flexible integrated circuits and systems, to begin a new project to develop a new generation of CMOS for smart sensors.
The goal of the two-year project is the development of custom circuitry using Smartkem's organic thin-film transistor (OTFT) technology and n-type oxide TFT to make low-power CMOS enabled sensor devices. The devices are expected to incorporate mixed signal and digital IPs, such as RISC-V cores (a circuit type which uses an open-source instruction set), as well as utilizing machine learning (ML), a type of artificial intelligence (AI) that allows machines to learn and improve from data without being explicitly programmed, to improve processing of signals.
CEO Ian Jenks commented, "This project with FlexiIC furthers Smartkem's technology for potential use in the field of large area, low power consumption electronics suitable for the internet-of-things (IOT), a market which is expected to grow to approximately $4,062.34 billion by 2032, a CAGR or 24.3% from 2024.
SMTK grabbed 12 cents, or 2.9%, to $4.13.
