A high-tech manufacturer of flexible electrical circuits that are thinner than a human hair is launching a £68m ($90m) factory in County Durham.
PragmatIC Semiconductor - which already runs a production line at nearby NETPark - has secured £68m series C funding including £3.8m ($5m) from Swiss packaging company Amcor and will launch the North East manufacturing facility which is estimated to double its workforce, creating 125 highly skilled jobs by the end of this year.
Work is currently under way to build the factory and commission the FlexLogIC fabrication line which expected to ramp up production to billions of circuits by 2023.
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The investment is PragmatIC's largest to date and the new site - called PragmatIC Park - will provide space for at least four additional production lines to support continued growth in demand for its products.
The firm's tiny circuits can be invisibly embedded in objects, meaning innovators can create novel solutions to everyday problems that conventional electronics cannot.
For example, the products can be embedded into packaging to store and relay information to devices such as smartphones, opening up a range of uses from manufacturing to supply chain management and even consumer engagement.
PragmatIC said the Durham facility will become "the nucleus of a worldwide network" for major international customers and that it intends to draw suppliers to the site.
The firm's technology has already been adopted by a variety of companies across the consumer goods, retail, healthcare, pharmaceutical, gaming and security sectors.
Scott White, CEO of PragmatIC Semiconductor, said: “We are very excited to announce PragmatIC Park as our new site. As well as providing an ideal home for our second FlexLogIC fab, we will also be inviting selected ecosystem partners to work with us at the Park to create a centre of excellence for flexible semiconductor design and integration.”
Business Minister Lee Rowley said: “It has never been more important to see investment in semiconductor innovation and production. As we roll out digital technologies that will boost productivity and sustainability across the economy, demand for semiconductors is set to continue to grow.
“PragmatIC Park will help to address this growing need, while bringing skilled career opportunities to Durham, helping to level up the region and further build its high-value manufacturing base.”
Semiconductor IP specialist Arm participated in the recent funding round and its chief technology officer, Dipesh Patel, said there was huge potential in the field.
He said: “Billions of everyday objects could benefit from being part of the Internet of Things, but to continue to scale sustainably we need to explore new approaches for embedding intelligence into everyday objects.
“Flexible electronics can extend the range and scope of what is possible today and we see massive potential for it to be creatively adopted by the Arm ecosystem, leading to innovation with global impact.”
