IQE plc

Reach

Cardiff, UK

6 October 2022

IQE announces partnership with MICLEDI to develop microLEDs for AR products

IQE plc (AIM:  IQE, "IQE" or the "Group"), the leading supplier of compound semiconductor wafer products and advanced material solutions to the global semiconductor industry, is pleased to announce it has entered into a partnership with MICLEDI Microdisplays ("MICLEDI") focused on the large-scale commercialisation of microLED technology.

MICLEDI is a leading fabless semiconductor design and technology company developing unique, high-performance microLED displays with a primary focus on augmented reality ("AR") products. Under this agreement, IQE will provide MICLEDI with a 200mm (8-inch) platform to scale and commercialise this technology to achieve high-volume production for red microLEDs. This geometry allows for compatibility with both standard 200mm and 300mm silicon foundries, which enables the partnership to deliver economies of scale.

Americo Lemos, Chief Executive Officer of IQE, commented:

"MicroLEDs are the future of immersive display technologies and this agreement expands IQE's position in a market which is poised for multi-billion dollar growth across a range of end-market applications, including everyday consumer electronics. Compound semiconductors are a critical enabler of scale in this market and we are pleased to be partnering with MICLEDI to offer a differentiated solution."

Sean Lord, Chief Executive Officer of MICLEDI, commented:

"By combining MICLEDI's unique microLED arrays with IQE's innovative 8-inch platform, we have formed a natural partnership to commercialise and scale our solution to address the high-growth microLED market. Our augmented reality products will enable new user experiences and we look forward to delivering this innovative technology under our new partnership."

Contacts:

IQE plc

+44 (0) 29 2083 9400

Americo Lemos

Tim Pullen

Amy Barlow

Headland Consultancy (Financial PR)
+ 44 (0) 20 38054822

Andy Rivett-Carnac: +44 (0) 7968 997 365

Antonia Pollock: +44 (0) 7789 954 356

Marta Parry-Jones: +44 (0) 7884742400

ABOUT IQE

http://iqep.com

IQE is the leading global supplier of advanced compound semiconductor wafers and materials solutions that enable a diverse range of applications across:

·    handset devices

·    global telecoms infrastructure

·    connected devices

·    3D sensing

As a scaled global epitaxy wafer manufacturer, IQE is uniquely positioned in this market which has high barriers to entry. IQE supplies the whole market and is agnostic to the winners and losers at chip and OEM level. By leveraging the Group's intellectual property portfolio including know-how and patents, it produces epitaxy wafers of superior quality, yield and unit economics.

IQE is headquartered in Cardiff UK, with c. 685 employees across eight manufacturing locations in the UK, US and Taiwan, and is listed on the AIM Stock Exchange in London.

ABOUT MICLEDI

https://www.micledi.com

MICLEDI Microdisplays is a fabless developer of microLED display modules for the augmented reality (AR) market. The company was spun-out from IMEC, a highly respected Belgian R&D center, in 2019. MICLEDI's technology is based on an innovative combination of III/V materials processing, 3D integration and 300mm silicon-based processing combined with a proprietary ASIC to provide a self-contained, compact monolithic AR display with high image quality and power efficiency. For more information, visit www.micledi.com.