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IQE plc: SIPF funding of South Wales cluster
IQE plc: SIPF funding of South Wales cluster.
About this update from Iqe Plc
[{"type":"text","content":"\n \n \n RNS Number : 1980R\n IQE PLC\n 26 June 2020\n \n \n \n \n IQE plc \n \n \n RNS Reach\n \n \n Cardiff, UK\n \n \n 26 June 2020\n \n \n \n \n \n IQE plc (AIM: IQE, \"IQE\" or the \"Group\"), the leading manufacturer of advanced semiconductor wafer products for the global semiconductor industry, today welcomes the UK Government's approval of a major £43.74m project with South Wales' compound semiconductor cluster. This comes as part of the first wave of funding through UK Research and Innovation's flagship Strength in Places Fund (SIPF). \n \n \n The project's twelve partners include key Welsh Anchor Companies (IQE plc, Newport Wafer Fab (NWF) and SPTS), two universities (lead partner Cardiff University and Swansea University), CSC and several government organisations, including the Compound Semiconductor Applications Catapult. \n \n \n The initiative is one of seven chosen to be supported by the UK Government as part of a broader £400m investment programme being announced today. \n \n \n The CSConnected project is based around integrating research excellence with the unique regional supply chains in advanced semiconductor manufacturing.\n \n \n Compound semiconductors are critical components across a wide range of new technologies and the primary aim of the CSConnected project is to develop a competitive advantage in key enabling technologies which will allow the UK to increase trade globally in critical sectors such as optical communications, 5G, autonomous and electric vehicles, aerospace, robotics and medical devices.\n \n \n Secretary of State for Business, Energy and Industrial Strategy, Alok Sharma, said: \n \n \n \"Today's announcement will ensure some of our country's most promising R&D projects get the investment they need to take off and thrive.\n \n \n Working with the private sector our world-class universities, we're backing new and innovative ideas that will create jobs and boost skills in every part of the UK for years to come.\"\n \n \n \n Dr Drew Nelson, Chief Executive Officer of IQE, commented\n \n :\n \n \n \"The UK has a huge opportunity to put high-tech manufacturing at the heart of its industrial strategy and supercharge economic growth. The UK leads the world in the design and manufacturing of compound semiconductor wafers. This funding from the UK G...