SmartKem, Inc. Announces Joint Development Agreement with RiTdisplay
MANCHESTER, United Kingdom, Oct. 12, 2021 /PRNewswire/ -- SmartKem, Inc. (OTCQB: SMTK), a company seeking to reshape the world of electronics with a revolutionary new organic semiconductor platform that enables a new generation of displays, announced that it has entered into a joint development agreement with RiTdisplay Corp. (TWSE: 8104), a leading developer of optoelectronic solutions, visual displays and PMOLED displays. Pursuant to this agreement, the parties will collaborate on the production of a full color demonstration AMOLED display.
RiTdisplay CEO, D.C. Wang, commented, "We're very pleased to announce this joint development agreement with SmartKem. This partnership signifies RiTdisplay's new opportunity in AMOLED displays."
Leading display analyst and DSCC (Display Supply Chain Consultants) CEO, Ross Young, commented, "This is a win-win for both companies. RiTdisplay will be able to broaden its product line to include AMOLEDs at a lower cost and SmartKem gains a highly motivated partner looking to commercialize its technology. We congratulate both companies and look forward to seeing their products in the market soon."
SmartKem CEO, Ian Jenks, commented, "We're excited to announce this joint development agreement with RiTdisplay. This partnership furthers SmartKem's commitment to explore opportunities in Asia to produce the next generation of displays. We're confident that the collaboration of our unique materials will enable us to successfully develop a full color demonstration AMOLED display."
Through the application of its unique TRUFLEX® technology, SmartKem will provide OTFT backplanes to enable the manufacture of an AMOLED display using RiTdisplay's frontplane (OLED) and drive electronics. TRUFLEX® materials are developed for standard process equipment sets that has the benefit of both lower material and equipment costs. This makes high performance and stable display backplane technology accessible to manufacturers at a lower capital costcompared to inorganic TFT technology.
RiTdisplay envisions the integration of its high efficiency OLED technology with SmartKem, Inc.'s high performance organic thin film transistor technology (OTFT) to create an even higher brightness and resolution display; the addition of OTFT technology is also expected to enable RiTdisplay to produce products with better reliability and larger in size. With this completely organic device structure, RiTdisplay believes it will be able to produce OTFT-AMOLED displays that provide super slim and bendable characteristics.
RiTdisplay hopes to develop OTFT-AMOLEDs that have better performance characteristic than PMOLEDs while retaining better cost effectiveness than current LTPS-AMOLEDs as its path into a new blue ocean market.
SmartKem's OTCQB information can be found on the OTC Markets website: www.otcmarkets.com/stock/SMTK/overview
SOURCE SmartKem, Inc.
Company Codes: OTC-PINK:SMTK, Taiwan:8104, OTC-QB:SMTK
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