Successfully demonstrated first printed integrated system with rewritable memory: Completion of printed temperature sensor prototype marked the achievement of a major technical milestone and broadened customer interest to new markets and applications.
Secured commercial agreement in toys & games: Entered into commercial agreement with Hasbro, Inc. ("Hasbro"), a Fortune 600 toy manufacturer, for supply of printed electronics components.
International awards and recognition: In October, Thinfilm won the World Technology Award in Materials and placed as runner-up in Wall Street Journal's 2012 Innovation Award. In the same month, named by GigaOm as one of the most innovative companies in mobile.
Complete manufacturing supply chain established: Increased commercial delivery capacity substantially by establishing high-volume processes for conversion and labeling of printed memory tags (subsequent manufacturing steps to printing and testing).
The fourth quarter of 2012 marked a strong finish to a significant year for Thinfilm in commercializing printed memory and integrated systems; Major technical achievements and continued strong commercial momentum.
In December 2012, Thinfilm demonstrated the world's first printed integrated electronic system with rewritable memory. The temperature sensor prototype combined printed memory, sensor and logic to detect when critical temperature thresholds have been exceeded and then recorded the data digitally for later retrieval and display. Such low-cost temperature tags can deliver item-level tracking of quality data for goods such as pharmaceuticals and perishable foods. Raghu Das, head of IDTechEx, a leading consultancy in printed electronics, cited the Thinfilm temperature sensor as "a significant commercial breakthrough for the printed electronics industry." The proof-of-concept demonstration triggered substantial interest across a range of industries. "The prototype was developed according to the original plan and delivered on time. This achievement demonstrates the strength and competence of our technical staff and partner ecosystem, and validates our product roadmap," says Davor Sutija, Thinfilm CEO.
Also in December 2012, Thinfilm announced a commercial agreement with Hasbro, one of the largest toy makers in the world, for supply of printed electronics components. "This commercial agreement underscores the attractiveness and competitiveness of Thinfilm's technology in cost-focused industries such as toys and games," says Jennifer Ernst, EVP Global Sales and Business Development. The agreement with Hasbro also includes a limited exclusive consulting relationship.
In October, Thinfilm won the World Technology Award in Materials and placed as runner-up in Wall Street Journal's 2012 Innovation Award. In the same month, the company was named by GigaOm as one of the 15 companies most likely to radically transform mobile in the years ahead.
During fourth quarter of 2012, Thinfilm established a complete manufacturing supply chain for its stand-alone printed memory tags. By adding high-volume processes for conversion and labeling to the already existing and preceding manufacturing steps (printing and testing), Thinfilm increased its commercial delivery capacity for printed memories substantially. "This extension of our supply chain is an important accomplishment. It reduces cost and risk of large memory deliveries to prospective customers, and it will accelerate time to market for the printed integrated systems and smart tags that Thinfilm currently is developing," says Torgrim Takle, Thinfilm CFO.
Thinfilm continued to strengthen its internal capabilities during the fourth quarter of 2012. Thinfilm increased staff by approximately 20% during the quarter (mainly technical staff to accelerate development of printed integrated systems), and expanded the laboratory facilities in Sweden, including commissioning of a 1000m² class 100 cleanroom for high-definition printing. Thinfilm is in the process of provisioning pilot scale gravure printing equipment with capacity to handle initial commercial orders.