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.
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SOURCE Amcor