Partner Article

Investment in printable electronics could create 1,500 jobs

A £20m investment in a Durham based technology company will help “drive the region’s economy forward”, and create 250 North East jobs.

The Printable Electronics Technology Centre (PETEC), a division of CPI, will receive £12m funding from the government’s Advanced Manufacturing strategy, as well as £8m from One North East.

The plans will unfold over the next four years, creating an estimated 1,500 jobs nationwide as knowledge and new technology leads to new companies in the UK.

Alan Welby, Director of Strategy for One North East, said: “This announcement is a major boost for the North East and confirms the region’s position at the cutting edge of UK manufacturing.

“One North East has been investing in PETEC for some time now, having identified printable electronics as one of the emerging industries that can drive the region’s economy forward.”

The centre, found at NETPark in Sedgefield, is to become the national base for printable electronics, which will produce more low-cost electronics.

The global printable electronics sector is forecast to grow to £15bn by 2015, and £125bn by 2025.

Director of PETEC, Tom Taylor, said: “This is fantastic news and underlines the outstanding success of CPI and One North East’s investment in the Strategy for Success.”

This was posted in Bdaily's Members' News section by Ruth Mitchell .