The company is planning to create 500 jobs at its bases in Durham and in Cambridge over the next few years
Princess Anne has visited the North East today to officially open a cutting-edge microchip factory backed by massive investment from around the world.
The Pragmatic Semiconductor plant at Durham has developed technology that allows it to make the crucial chips that power a huge range of products quicker, at low cost and using less energy and water. The company is hoping to create 500 jobs at Durham and in Cambridge over the next few years as it increases production.
Pragmatic Park, at Meadowfield, has capacity to host up to nine fabrication lines, each capable of producing billions of chips per year. Its plans were boosted last year when it secured more than £180m in investment from groups including Northern Gritstone, Latitude and MVolution Partners, British Patient Capital, Cambridge Innovation Capital and Prosperity7 Ventures. Backing also came from the UK Infrastructure Bank.
The company was formed in Cambridge but first set up production facilities at NETPark in Sedgefield, taking advantage of facilities already available through the High Value Manufacturing Catapult centre. The unit at Meadowfield has significant capacity beyond what is currently in use to allow for expansion in the coming years.
