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Smartkem Partners with AUO to develop the world’s first rollable, transparent MicroLED display – the first display in production using Smartkem’s technology
The company has an extensive IP portfolio including 140 granted patents across 17 patent families, 14 pending patents and 40 codified trade secrets.
SMTK has entered into multiple strategic collaborations and agreements with industry-leading display manufacturers in Asia, North America, and Europe
Smartkem Signs Letter of Intent with Carbonium Core, Inc. to Expand Advanced Materials Portfolio into Nuclear-Grade Graphite
READ THE INVESTOR PRESENTATION HERE
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Hello Everyone,
We have something that we wanted to bring to your attention for today’s session. This one has been beat up a little bit over the past few weeks but the potential to bounce is strong after yesterdays drop. This could be the perfect time to have SMTK on your radar.
If you have been a member for a while then you should remember SMTK as it was one of our biggest profiles of 2024.
We brought SMTK to your attention way back then when we saw it open up at $3.91 an jump the next day to $10.95 for a potential 180% move. That was a while ago and a lot has changed for SMTK.
Smartkem is seeking to reshape the world of electronics with its disruptive organic thin-film transistors (OTFTs) that have the potential to revolutionize the display industry.
In seeking to enable the adoption and mass commercialization of next generation MicroLED displays, Smartkem’s low temperature (80°C) process allows its liquid transistors to be poured directly onto the MicroLEDs, eliminating many of the high-cost, low-yield manufacturing processes used in traditional production.
This innovation reduces defects, enhances yield and integrates seamlessly into existing manufacturing processes, making MicroLED displays more commercially viable across sectors including smartphones, wearables, automotives and digital signage.
Smartkem develops its materials at its research and development facility in Manchester, UK and provides prototyping services at the Centre for Process Innovation (CPI) at Sedgefield, UK. It has a field application office in Taiwan. The company has an extensive IP portfolio including 138 granted patents across 17 patent families, 16 pending patents and 40 codified trade secrets.
SMTK has entered into a number of joint agreements with outside companies, including:
- February 2024: Shanghai-based Tianma Microelectronics “to integrate Smartkem’s Organic Thin-Film Transistor (OTFT) technology with Tianma’s oxide transistors to develop OTFT-based microarray biochips.”
- March 2024: Taiwan-based RiTdisplay “for the manufacture of a new type of active-matrix OLED (AMOLED) display.”
- March 2024: The Industrial Technology Research Institute (ITRI) in Taiwan to enable customers access to product prototyping on its Gen2.5 line using Smartkem’s OTFT technology.
- September 2024: Shanghai-based Chip Foundation “to co-develop a new generation of microLED-based backlight technology for Liquid Crystal Displays.”
- November 2024: Smartkem and AUO Partner to Develop a New Generation of Rollable, Transparent MicroLED Displays
- December 2024: Smartkem Signs Multi-Year Agreement with FlexiIC to Develop a New Generation of CMOS for Smart Sensors
- March 2025: Signed MOU with RiTdisplay to Integrate Smartkem’s OTFT process onto its Gen2.5 Line to commercialize the next generation of AMOLED displays using OTFT technology
- May 2025: Announced collaboration with Manz Asia, a “developer of production solutions for semiconductor advanced packaging manufacturing sectors” that “includes the demonstration of inkjet printable dielectric layers for use in advanced computer and AI chip packaging solutions.”
- January 2025: Signed proof-of-concept agreement with “a global consumer electronics leader” to “develop next-generation smart wearables that incorporate a conformable MicroLED display utilizing Smartkem’s proprietary organic thin-film transistor (OTFT) technology.” [emphasis added]
Dr. Maosheng Hao, chairman of Chip Foundation, said:
“Smartkem is widely recognized as a leading provider of OTFT solutions, with deep expertise and extensive experience in organic dielectric materials, organic semiconductor materials, and related processes. ….
“We believe that this collaboration between our two companies has the potential to expedite the advancement and widespread adoption of this technology by the display industry.”
Those are just a few key agreements. If you check out the companies website and news feed you are going to find several more.
Using its TRUFLEX® organic semiconductor and dielectric inks, or liquid polymers, Smartkem has developed a complete six-layer transistor stack and fabrication process. Smartkem’s core chemistry enables its electronic polymers to be processed at temperatures as low as 80oC, which by electronic industry standards is very low. The inks are solution deposited, onto low-cost plastic or glass substrates.
Breakthrough Technology
The TRUFLEX® materials stack is a breakthrough technology comprising six individually designed material formulations encompassing every layer in the device, starting from the initial planarising base layer, all the way through to the final passivation layer chemistry. The ink set includes the active organic semiconductor material and a series of orthogonal passive interlayer inks (Base layer, Self-Assembled Monolayer, Organic Gate Insulator, Sputter Resistant Layer and Passivation layer). Smartkem’s proprietary materials set is covered by an extensive IP portfolio comprising 125 granted patents across 19 patent families and 40 codified trade secrets.
Smartkem Signs Letter of Intent with Carbonium Core, Inc. to Expand Advanced Materials Portfolio into Nuclear-Grade Graphite
MANCHESTER, United Kingdom, Feb. 02, 2026 (GLOBE NEWSWIRE) — Smartkem, Inc. (Nasdaq: SMTK), (“Smartkem”), a developer of advanced materials, today announced that it has entered into a non-binding letter of intent (“LOI”) to acquire 100% of the outstanding shares of Carbonium Core, Inc., a U.S.-based advanced materials company focused on the production of nuclear-grade graphite for advanced reactor technologies.
In connection with this transaction, Smartkem has mutually agreed to terminate its previously announced LOI with Jericho Energy Ventures, with no penalties or disputes arising from the termination. The Company views this transaction as a strategic progression aligned with its long-term materials roadmap.
Under the terms of the LOI, Smartkem intends to acquire all outstanding shares of Carbonium Core, Inc. in exchange for shares of Smartkem Series B Convertible Preferred Stock, subject to the execution of definitive agreements, completion of due diligence, and customary closing conditions. The LOI includes a customary exclusivity period and is non-binding with respect to the consummation of the proposed transaction.
Strategic Fit and Materials Capability Alignment
Carbonium Core, Inc. is a U.S.-based developer of nuclear-grade graphite for advanced reactor systems, focused on converting domestically sourced carbon feedstock into reactor-qualified graphite through fully U.S.-based processing and manufacturing. The proposed transaction combines Smartkem’s materials chemistry and manufacturing scale-up capabilities with Carbonium Core, Inc.’s vertically integrated domestic production platform to establish a secure, U.S.-controlled supply chain for a critical nuclear material, reduce reliance on foreign-controlled sources, and directly support national energy security, supply-chain resilience, and advanced nuclear deployment objectives.
Leadership Commentary
“This transaction would expand our materials portfolio into a new and exciting market,” said Ian Jenks, Chairman and Chief Executive Officer of Smartkem. “We believe that nuclear-grade graphite is a strategically critical market with significant technical complexity and long-term demand drivers. Carbonium Core, Inc.’s capabilities align strongly with our ambition to build differentiated, high-value materials platforms that address global supply-chain challenges.”
“Being one of the first domestic companies to take coal all the way to nuclear-grade graphite is a milestone for Carbonium Core, Inc. and for the U.S. It proves that advanced materials, once thought to be imported necessities, can be engineered domestically with precision, responsibility, and vision,” added Suren Ajjarapu, Chief Executive Officer of Carbonium Core, Inc. “Smartkem is a world-class advanced materials company that brings deep expertise and process innovation, and we believe this combination can accelerate our mission to deliver a secure, domestic supply of nuclear-grade graphite for the next generation of U.S. reactor technologies.”
Proposed Transaction Highlights
- Expansion into a Critical New End Market: The proposed transaction is intended to expand Smartkem’s advanced materials portfolio into nuclear-grade graphite, a strategically critical material required for next-generation nuclear reactor technologies.
- Alignment with Long-Term Energy and Industrial Trends: Advanced nuclear is expected to play a growing role in energy security and decarbonisation, driving sustained demand for high-performance, reactor-qualified materials with long qualification cycles and high barriers to entry.
- Strong Technical and Manufacturing Fit: Management believes that Carbonium Core, Inc.’s graphite purification and processing capabilities are highly complementary to Smartkem’s expertise in materials engineering, process integration, and manufacturing scale-up.
- Domestic Supply Chain Opportunity: The combination is intended to support the development of a secure, U.S.-based supply chain for nuclear-grade graphite, reducing reliance on foreign sources for a strategically sensitive material.
- Portfolio Diversification with Technical Continuity: The proposed transaction represents a logical extension of Smartkem’s core competencies into a new market with attractive technical complexity and long-term commercial potential.
Terms of the Proposed Transaction
Smartkem has signed a non-binding letter of intent to acquire 100% of the outstanding shares of Carbonium Core, Inc.
The proposed transaction contemplates aggregate consideration to be paid by Smartkem to Carbonium Core shall consist of newly created Series B Convertible Preferred Stock of SmartKem having an aggregate stated and liquidation value of $120,000,000 (the “Preferred Stock Consideration”), which Preferred Stock Consideration shall be issued as follows:
- 50% of the Preferred Stock Consideration shall be issued at Closing; and
- The remaining 50% of the Preferred Stock Consideration shall be issued upon the Company achieving certain milestones to be defined in the definitive agreement.
The Series B Convertible Preferred Stock shall be convertible into such number of shares of Common Stock of the Smartkem as is determined by dividing the Preferred Stock Consideration by $1.00 per share.
The Series B Convertible Preferred Stock shall not have any voting rights.
The Series B Convertible Preferred Stock shall be convertible, at any time commencing after the six (6) month anniversary of the Closing Date, into such number of shares of Common Stock of Smartkem as is determined by dividing the Preferred Stock Consideration by $1.00 per share.
The Series B Convertible Preferred Stock shall contain beneficial ownership limitations such that each holder and its affiliates shall not be able to convert the Series B Convertible Preferred Stock into more than 4.99% of Smartkem’s Common Stock and it will not be exercisable into Smartkem’s Common Stock until the date on which any stockholder approval is obtained in accordance with the rules of the NASDAQ Stock Market (“Stockholder Approval”).
The parties currently anticipate completing the proposed transaction on or before February 5, 2026, subject to extension by mutual agreement. Carbonium Core, Inc. has agreed to a 90-day exclusivity period, during which it will not solicit or engage in discussions regarding alternative transactions. Completion of the proposed transaction is subject to satisfactory due diligence, execution of definitive agreements, receipt of required approvals, and other customary closing conditions. There can be no assurance that any definitive agreements will be negotiated or executed, that the proposed transaction will be consummated on the terms described herein, or at all, or as to the timing or final terms of any transaction.
Following the completion of the proposed transaction, Smartkem’s board of directors is expected to consist of five members, with two appointed by Carbonium Core, Inc. and three by Smartkem, subject to definitive documentation and stockholder approval in accordance with the rules and regulations of the NASDAQ Stock Market.
Either party may terminate the LOI under customary circumstances, including failure to complete due diligence or by mutual written consent, without the imposition of any break-up fees.
E.F. Hutton & Co. is serving as exclusive M&A advisor to Smartkem.
Smartkem Signs Proof of Concept Agreement with Global Consumer Electronics Giant for MicroLED Wearables
Agreement marks validation of Smartkem’s transistor technology and could lead to the introduction of a novel MicroLED display architecture to the smart wearables market
MANCHESTER, England, Jan. 06, 2026 (GLOBE NEWSWIRE) — Smartkem, Inc. (Nasdaq: SMTK), a company developing a new class of organic semiconductor technology, today announced that it has entered into a 12-month paid proof-of-concept agreement with a global consumer electronics leader to develop next-generation smart wearables that incorporate a conformable MicroLED display utilizing Smartkem’s proprietary organic thin-film transistor (OTFT) technology.
The collaboration is expected to develop curved surface wearable devices built around OTFT-based MicroLED display technology that addresses some of the most difficult challenges in wearables: extreme miniaturization, low power consumption, outdoor visibility and high impact resistance. The program will integrate Smartkem’s proprietary OTFT technology with MicroLEDs using its “chip-first” architecture to address one of the smallest and most demanding form factors in consumer electronics.
“This agreement validates industry interest in Smartkem’s technology and, if successful, moves Smartkem beyond platform validation and into product-level execution for wearable devices,” said Ian Jenks, Chairman and Chief Executive Officer of Smartkem. “Compact wearables are among the most demanding form factors in consumer electronics, and MicroLED is increasingly recognized as the technology best suited to deliver the high brightness and efficiency they require.”
“The wearable devices being developed through this collaboration can be manufactured at scale on Gen2.5 production lines, similar to those on which we have already developed and proven our processes at the Industrial Technology Research Institute (ITRI) in Taiwan, making this an ideal commercial application of our “chip-first” approach in the wearables market. The global wearable technology market is already significant and is projected to more than double from approximately $84 billion today to nearly $186 billion by 2030, growing at a CAGR of 13.6%1.”
Under the agreement, Smartkem will work with its global consumer electronics partner to design and develop a MicroLED display architecture optimized for smart wearables that interface with smart phones, leveraging Smartkem’s OTFT technology to enable thin, flexible and power-efficient backplanes compatible with scalable manufacturing processes. The project is expected to run over a 12-month period, culminating in a proof-of-concept demonstration.
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MANAGEMENT
Ian Jenks
Chairman and Chief Executive Officer
Ian has more than 30 years of board-level experience in the industrial technology industry and has served as chief executive officer of companies operating in the United States and Europe. Ian was formerly the president of Uniphase Inc, Chairman of Oplink Communications Inc which he took public on the NASDAQ and spent seven years as a partner of Crescendo Ventures llp. Ian founded and since August 2010 has acted as the CEO of Ian Jenks Limited, a consulting company providing consulting services to companies in the industrial technology industry. Ian has been a director of Techstep ASA, a provider of managed mobile services in the Nordics, Paysafe plc., an international provider of payment processing services, and Brady plc, a provider of commodity trading software. He also has served and continues to serve as a director of a number of private companies. Ian received a B.Sc. in Aeronautical Engineering from Bristol University.
Beverley Brown
Chief Scientist
Prior to joining Smartkem, Beverley held a number of research and development positions in the technology field of advanced materials at Imperial Chemical Industries Ltd. (“ICI”), Zeneca Group PLC and at the Avecia Group PLC. She formed BAB Consultants Ltd in 2006 and for approximately eight years provided consulting services to a number of chemical companies, as well as to the UK government and to the UK’s Centre for Process Innovation, CPI. Beverley has worked in the field of organic semiconductor technology and in printable electronics for almost 20 years. Beverley holds a Ph.D. in Organic Chemistry from the University of Glasgow.
Barbra Keck
Director and Chief Financial Officer
Barbra Keck was formerly the Chief Financial Officer of Deverra Therapeutics, Inc., a developer of cell therapies. Prior to that, she held positions of increasing responsibility at Delcath Systems, Inc., a Nasdaq-listed interventional oncology company, starting as Controller in 2009 and ultimately becoming chief financial officer in February 2017, a position which she held until 2020.
Simon Ogier
Chief Technology Officer
Simon joined Smartkem as CTO in 2019 and is an internationally recognized expert in the field of organic thin-film transistors. Since 2001 he has worked to develop high performance organic semiconductors for transistor applications within companies such as Avecia, Merck, CPI and more recently with NeuDrive Limited. From 2007 whilst at CPI Simon had a major role in establishing the UK’s National Printable Electronics Centre (PETEC), housing a range of state-of-the-art fabrication equipment for pilot scale production of plastic electronic devices. The facility includes £35m of capital equipment capable of processing substrates up to 370 x 470mm in size. He currently manages a team of 19 engineers and scientists using the equipment for Smartkem’s process development and prototype fabrication. Simon has co-authored 30 journal articles and has been co-inventor on 16 patent families. He serves as the project leader for the standard IEC62899-203 “Semiconductor ink” within IEC TC119 WG2 (Printed Electronics – Materials) and has previously participated in IEEE standards for the organic transistor measurement.
Jonathan Watkins
Chief Operating Officer
Jonathan Watkins has over 30 years’ experience commercialising and scaling novel material technologies and working across large multinational companies. He has played pivotal roles in managing complex technical product portfolios and developing global supply chains.
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