13th May 2014 12:47
LONDON (Alliance News) - IQE PLC said Tuesday that it had joined a consortium to establish European supply chain for the production of vertical cavity surface emitting lasers for illumination, data communications, gesture recognition and industrial heating products.
The consortium includes Koninklijke Philips NV, STMicroelectronics NV and Sick UK Ltd and Sidel UK Ltd, and will be funded by the European Commissions Nanoelectronics Initiative Advisory Council programme. IQE will receive "significant" support from the Welsh Government, it said.
"IQE offers a strong track record in the manufacture of compound semiconductor wafers and laser devices and the consortium also includes a number of end customers who have and will expand the design of VCSELs into their existing and new families of products," said Chief Executive Drew Nelson in a statement.
No financial details were disclosed.
Shares in IQE were trading up 0.7% at 22.90 pence Tuesday afternoon.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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