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50.80 -0.20 (-0.39%)

Bid:

49.95

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50.30

Spread: 0.35 (0.701%)

Market Cap: £670.89m

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IQE completes joint quantum-powered universal memory project

Mon, 16th Jun 2025 15:20

(Alliance News) - IQE PLC on Monday said it has completed a GBP1.1 million joint project funded by Innovate UK to develop a scalable production method for the world's first quantum-powered universal memory, ULTRARAM.

The Cardiff-based supplier of advanced wafer products for the semiconductor industry said the project was completed as part of a consortium, which included Lancaster and Cardiff Universities.

The universities were awarded a grant for the one-year project, with semiconductor company Quinas Technology coordinating the work and the majority of funding deployed with IQE.

The ULTRARAM project partners are now exploring further industrialisation and pilot production with foundries and strategic collaborators.

"We have successfully achieved our goal of developing a scalable epitaxy process for ULTRARAM, a milestone towards industrial production of packaged chips. This project represents a unique opportunity to bring the next generation of compound semiconductor materials to life in the UK and we are proud of our work with Quinas, Lancaster and Cardiff Universities to advance commercial production and create world-leading universal memory devices," said IQE Chief Executive Officer Jutta Meier.

Shares in IQE were up 2.5% at 10.52 pence each in London on Monday afternoon. The stock remains down 62% over the past year.

By Emily Parsons, Alliance News reporter

Comments and questions to newsroom@alliancenews.com