Smoltek Nanotech Holding AB (publ) announced its intention to enter into a license and services agreement between its subsidiary Smoltek Semi AB (Smoltek Semi) and KEMET Electronics Corporation (KEMET), a subsidiary of YAGEO Group, which would grant YAGEO a global, exclusive right to manufacture and sell discrete and embedded capacitor products based on Smoltek's patented technology platform for ultra-thin carbon nanofiber capacitors (CNF-MIM). Under the intended terms of the Agreement, Smoltek Semi would receive a royalty on industry market terms based on product sales, and Smoltek Semi would receive fees from KEMET for providing specific technical support services to KEMET for its contribution to the continued joint commercialization of CNF-MIM-based products. Furthermore, YAGEO is considering an equity-based investment in Smoltek Semi and/or Smoltek.

The Agreement will replace the need to set up a JV-entity as previously planned by the parties, enabling YAGEO to more efficiently allocate resources to the collaboration with Smoltek as appropriate, thus facilitating a faster road to market for CNF-MIM based products. The parties intend to finalize the terms and sign the Agreement during the first quarter of 2024.