Smartkem and Jericho Energy Ventures Extend Letter Of Intent for Proposed All-Stock Merger to Form U.S.-Owned, AI-Focused Infrastructure Company
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 20 2025
0mins
Source: PRnewswire
Proposed Transaction Overview: Smartkem has extended its non-binding Letter of Intent for an all-stock business combination with Jericho Energy Ventures, aiming to create a U.S.-owned AI infrastructure company that integrates energy and semiconductor technologies.
Strategic Importance: The merger is expected to leverage Smartkem's advanced semiconductor materials and Jericho's scalable energy platform to meet the growing demand for AI compute capacity, potentially unlocking significant value in the converging energy and AI sectors.
Executive Insights: Both companies' executives expressed enthusiasm for the merger, highlighting the complementary capabilities that could enhance performance and power needs for next-generation AI infrastructure.
Conditions and Risks: The transaction is subject to various conditions, including obtaining additional capital, stockholder approvals, and satisfactory completion of due diligence, with no guarantee that the merger will ultimately be completed.
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Analyst Views on SMTK
About SMTK
SmartKem, Inc. provides disruptive organic thin-film transistors, which have the potential to drive the displays. The Company’s patented TRUFLEX semiconductor and dielectric inks, or electronic polymers, are used to make transistors. Its inks enable low temperature printing processes, which are compatible with existing manufacturing infrastructure to deliver displays. Its semiconductor platform is used in various display technologies, including micro-light-emitting diode (MicroLED), LCD and AMOLED, as well as in applications in advanced computer and artificial intelligence (AI) chip packaging, sensors, and logic. The Company designs and develops its materials at its research and development facility in Manchester, the United Kingdom and provides prototyping services at the Centre for Process Innovation (CPI) in Sedgefield, the United Kingdom. The Company has an intellectual property portfolio, including 140 granted patents across 17 patent families and 40 codified trade secrets.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Smartkem Unveils World's First All-Organic Transistor Biometric Sensor
- Technological Breakthrough: Smartkem's collaboration with Shanghai Jiao Tong University has resulted in the world's first all-organic transistor biometric sensor, significantly enhancing optical detection sensitivity for fingerprint and palm recognition on curved surfaces, thereby addressing challenges like fingerprint spoofing.
- Application Potential: This sensor employs advanced liveness detection techniques to capture subtle signals that distinguish real fingerprints from fakes, which not only opens new applications for flexible biometric devices but also enhances market competitiveness.
- Academic Publication: A paper detailing this innovation will be presented at the IEEE International Electron Devices Meeting on December 10, 2025, showcasing Smartkem's advancements in organic transistor technology and solidifying its leadership in the semiconductor field.
- Market Potential: Smartkem's TRUFLEX® semiconductor polymers can be utilized across various display technologies, with expectations to drive the commercialization of a new generation of lightweight, high-performance bio and optical sensors, thereby expanding its market share.
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Smartkem Unveils World's First All-Organic Biometric Sensor
- Technological Breakthrough: Smartkem's collaboration with Shanghai Jiao Tong University has led to the development of the world's first all-organic transistor biometric sensor, significantly enhancing optical detection sensitivity for fingerprint recognition on curved surfaces, addressing challenges like fingerprint spoofing and advancing biometric technology.
- Application Prospects: This sensor employs advanced liveness detection techniques to capture subtle signals, not only improving the differentiation between real and fake fingerprints but also potentially opening new application scenarios in flexible biometric devices, thereby enhancing market competitiveness.
- Academic Publication: A paper co-authored by Smartkem's CTO Simon Ogier will be published at the IEEE International Electron Devices Meeting on December 10, 2025, showcasing the academic value and industry impact of this technology, further elevating the company's standing in the sector.
- Market Potential: Smartkem's all-organic transistor platform not only outperforms conventional inorganic sensors in sensitivity but also paves the way for the next generation of lightweight, high-performance bio- and optical sensors, indicating broad market application potential.
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