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Classified in: Science and technology, Business
Subject: VEN

Amcor announces strategic investment in PragmatIC Semiconductor


ZURICH, Jan. 20, 2022 /PRNewswire/ -- In its continuing efforts to discover and develop innovative technologies for the packaging industry, Amcor (NYSE: AMCR; ASX: AMC) announced today its strategic investment in PragmatIC Semiconductor, a world leader in ultra, low-cost electronics.

Based in the United Kingdom, PragmatIC Semiconductor develops flexible, integrated circuits beyond the scope of conventional electronics. Their ConnectIC® family of radio frequency identification and near-field communications (RFID/NFC) integrated chips can be embedded into packaging to store and relay information to devices such as smartphones. This technology will enable smart packaging applications across the entire product lifecycle ? from manufacturing and supply chain management to consumer engagement and even material recovery.

Frank Lehmann, Vice President Open Innovation and Corporate Venturing at Amcor, said, "As the global diversified packaging leader, Amcor is well-positioned to tap into early-stage, cutting-edge innovation around sustainability and digitization. We are delighted to partner with PragmatIC Semiconductor to explore ways to leverage and integrate these flexible, integrated circuits into our portfolio of more sustainable packaging solutions."

Scott White, PragmatIC Semiconductor CEO, said, "We are pleased to partner with an industry leader like Amcor. This investment is a testament to the value Amcor continues to place on innovation and our collective vision on how packaging can be used to connect customers and consumers with the information they need."

Amcor's USD$5 million investment was part of the Series C funding round of more than USD$90 million for PragmatIC Semiconductor. This investment follows the recent investment by Amcor Corporate Venturing in ePac in April of 2021.

About Amcor
Amcor is a global leader in developing and producing responsible packaging for food, beverage, pharmaceutical, medical, home and personal-care, and other products. Amcor works with leading companies around the world to protect their products and the people who rely on them, differentiate brands, and improve supply chains through a range of flexible and rigid packaging, specialty cartons, closures, and services. The company is focused on making packaging that uses less materials, is increasingly recyclable and reusable, and is made with more recycled content. Around 47,000 Amcor people generate $12.5 billion in annual sales from operations that span about 230 locations in 40-plus countries. NYSE: AMCR; ASX: AMC

About PragmatIC Semiconductor
PragmatIC Semiconductor is a world leader in ultra-low-cost flexible electronics. The unique technology platform enables innovators to create novel solutions to everyday problems that are beyond the scope of conventional electronics. The proprietary flexible integrated circuits (FlexICs) are thinner than a human hair and extend proven applications such as RFID and NFC into mass market use cases, enabling the potential for trillions of smart objects that can engage with consumers and their environments. PragmatIC is headquartered in Cambridge, UK, with manufacturing operations in the North East. Shareholders include Cambridge Innovation Capital, Arm, Avery Dennison, Amcor and a select group of individual investors with significant experience in the semiconductor industry.

 

SOURCE Amcor


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News published on 20 january 2022 at 05:00 and distributed by: