Thinfilm Receives Funding to Help Create Open-Source “Internet of Things” Platform
By Business Wire News
By Business Wire News
Thin Film Electronics ASA (“Thinfilm” or “the Company”) (OSE:THIN.OL; OTCQX:TFECY), a global leader in printed electronics and smart systems, today announced that the Company has been awarded a grant from the European Commission as part of its Horizon 2020 research and innovation initiative. The grant will fund the “TagItSmart” project, through which Thinfilm will partner with global technology, consumer packaged goods (CPG), and smart-products leaders to create the world’s first “Internet of Things” (IoT) platform featuring open-source, open API (Application Programming Interface) architecture. For its part in the project, Thinfilm will receive EUR 472,312 (approximately USD 511,000) over three years.
The focus of TagItSmart will be to create a global-scale IoT platform – built using open-source architecture – to support trillions of intelligent items and the data they generate. The platform will provide compelling functionality and full interoperability in order to seamlessly integrate with a vast array of IoT-centric tools, technologies, and software. Ultimately, TagItSmart will help organizations effectively address challenges regarding the management of IoT products and related services as they seek to capitalize on the growing “sensorization” of objects. TagItSmart will deliver a range of functional capabilities, including 1) the creation of smart markers using NFC or functional codes, 2) the secure acquisition and consumption of contextual data, and 3) the efficient creation and deployment of IoT-based services. To boost platform adoption, a set of industrial use cases will be identified and demonstrated.
Thinfilm’s NFC OpenSense™ technology will be featured as a key component of the TagItSmart platform, and end-users will be able to access several related use cases that highlight commercial deployment of NFC OpenSense in market.
“We’re pleased to be selected by the European Commission for participation in this exciting initiative,” said Davor Sutija, CEO of Thinfilm. “The TagItSmart project aligns well with our mission of making trillions of everyday objects smart through the use of printed electronics, and we look forward to working closely with our project partners.”
Thinfilm will collaborate with several key partners on the TagItSmart project, including global technology powerhouse, Siemens; multi-national consumer goods leader, Unilever; IoT smart-products innovator, EVRYTHNG; Northern Europe’s largest multi-disciplinary research organization, VTT; and distinguished research institution, the University of Surrey.
About Thin Film Electronics ASA
Thinfilm is a leader in the development and commercialization of printed electronics and smart systems. The first to commercialize printed, rewritable memory, the Company is creating printed systems that include memory, sensing, display, and wireless communication, all at a low cost unmatched by any other electronic technology. Thinfilm’s roadmap integrates technology from a strong and growing ecosystem of partners to enable the Internet of Everything by bringing intelligence to disposable goods.
Thin Film Electronics ASA (“Thinfilm”) is a publicly listed Norwegian company with headquarters in Oslo, Norway; product development and production in Linköping, Sweden; product development, production, and business development in San Jose, California, USA; and sales offices in the United States, Hong Kong, and Singapore. www.thinfilm.no
Thin Film Electronics ASA
Bill Cummings, +1 408-503-7312
VP, Marketing & Communications
Blanc & Otus for Thinfilm
Jennifer Smith, +1 415-856-5152