Silex subsidiary Translucent Inc developed a novel set of semiconductor materials known as ‘crystalline Rare Earth Oxides’ (cREO™) for application to the manufacturing of advanced semiconductor devices (such as wireless and optical communications) which use high performance compound semiconductor materials rather than silicon. The cREO™ technology is a potentially enabling technology that could create a step change in the integration of various compound semiconductor devices with large scale silicon wafer-based production techniques. This has the potential to improve performance and lower the cost of production of compound semiconductor devices such as chips for wireless communications equipment and power electronics devices.

The cREO™ technology was purchased by UK-based IQE (AIM: IQE) in early 2018 in accordance with the 2015 License and Assignment  Agreement  between Translucent and IQE. As a result, payment of US$5 million was received in September 2018 (in IQE stock). In addition, a perpetual royalty of at least 3% will be payable to Translucent on the sale of any IQE products that utilise the cREO™ technology. The agreement also provides for the payment of annual minimum royalties over the period 2019 to 2024, with the first minimum royalty of US$400,000 paid to Translucent in March 2020.

The cREO™ technology was successfully transferred in late 2015 to IQE’s Greensboro, North Carolina manufacturing facility for the continuation of product development and commercialisation activities. IQE continues to progress the development of cREO™ based high frequency filters for 5G handset applications.

IQE is the global leader in the design and manufacture of advanced compound semiconductor wafers and substrates used in the production of many of today’s semiconductor devices, such as smart phones and optical sensors, and is a key supplier to the emerging 5G wireless technologies market. IQE operates manufacturing facilities in the US, UK and Asia.



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