Skip to main content

EU signs off major microelectronics project

(Image credit: Shutterstock/Bakhtiar Zein)

The UK, together with a couple of other European countries and commercial businesses, will be investing in a joint project that aims to build chips and other microelectronic, internet-connected devices. According to a Reuters (opens in new tab)report, the UK will be joined by Germany, Italy and France, and together they'll invest $2 million in the project.

The European Commission, which greenlighted the project, said it expects private investors to add additional $6.8bn to the pool.

A total of 29 companies and research organisations will also be part of the effort, it was said, including Robert Bosch, Infineon, STMicroelectronics, Osram, Carl Zeiss, GlobalFoundries and Murata. The project should be completed by 2024.

“Innovation in microelectronics can help the whole of Europe leap ahead in innovation,” European Competition Commissioner Margrethe Vestager said. “That’s why it makes sense for European governments to come together to support such important projects of common European interest, if the market alone would not take the risk.”

Reuters says the project will be focusing on energy efficient chips, power semiconductors, smart sensors, advanced optical equipment and compound materials.

“In particular, the project is expected to stimulate additional downstream research and innovations in particular in relation to the broad area of the Internet of Things and to connected or driverless cars,” the European Commission confirmed (opens in new tab).

Image Credit: Shutterstock/Bakhtiar Zein

Sead Fadilpašić is a freelance tech writer and journalist with more than 17 years experience writing technology-focussed news, blogs, whitepapers, reviews, and ebooks. And his work has featured in online media outlets from all over the world, including Al Jazeera Balkans (where he was a Multimedia Journalist), Crypto News, TechRadar Pro, and IT Pro Portal, where he has written news and features for over five years. Sead's experience also includes writing for inbound marketing, where he creates technology-based content for clients from London to Singapore. Sead is a HubSpot-certified content creator.