CHARLOTTE, N.C., April 1, 2025 /PRNewswire/ — Honeywell (NASDAQ: HON) announced today that its Board of Directors has elected Stephen Williamson, 58, current Senior Vice President and Chief Financial Officer of Thermo Fisher Scientific Inc., to its Board of Directors as an independent Director and Audit Committee member, effective April 1, 2025. 

Williamson was named Senior Vice President and Chief Financial Officer of Thermo Fisher Scientific in August 2015 and is responsible for the company’s finance, tax, M&A, treasury and global business services functions.  After joining Thermo Fisher Scientific in July 2001, he held a variety of finance leadership roles including Vice President of Financial Operations, leading the finance support function company-wide, and Vice President, European Financial Operations, overseeing integration activities across Europe. 

Prior to working at Thermo Fisher Scientific, Williamson held various finance positions at Honeywell, including Vice President and Chief Financial Officer, Asia Pacific and other corporate development and operational finance roles.  Williamson began his career with Price Waterhouse in the transaction support group and the audit practice.    

“We are delighted to welcome Stephen to our Board of Directors. He brings extensive financial expertise and significant international business experience,” said Vimal Kapur, Chairman and Chief Executive Officer of Honeywell. “Stephen’s broad industry knowledge and M&A experience will be invaluable to Honeywell as we pursue our transformational objectives and continue to drive growth and innovation globally.” 

Williamson holds a bachelor’s degree in accounting and finance from the University of Wales and is a member of the Institute of Chartered Accountants of England and Wales.

About Honeywell

Honeywell is an integrated operating company serving a broad range of industries and geographies around the world. Our business is aligned with three powerful megatrends – automation, the future of aviation and energy transition – underpinned by our Honeywell Accelerator operating system and Honeywell Forge IoT platform. As a trusted partner, we help organizations solve the world’s toughest, most complex challenges, providing actionable solutions and innovations through our Aerospace Technologies, Industrial Automation, Building Automation and Energy and Sustainability Solutions business segments that help make the world smarter, safer, as well as more secure and sustainable. For more news and information on Honeywell, please visit www.honeywell.com/newsroom. 

We describe many of the trends and other factors that drive our business and future results in this release. Such discussions contain forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the Exchange Act). Forward-looking statements are those that address activities, events, or developments that management intends, expects, projects, believes, or anticipates will or may occur in the future. They are based on management’s assumptions and assessments in light of past experience and trends, current economic and industry conditions, expected future developments, and other relevant factors, many of which are difficult to predict and outside of our control. They are not guarantees of future performance, and actual results, developments and business decisions may differ significantly from those envisaged by our forward-looking statements. We do not undertake to update or revise any of our forward-looking statements, except as required by applicable securities law. Our forward-looking statements are also subject to material risks and uncertainties, including ongoing macroeconomic and geopolitical risks, such as lower GDP growth or recession, capital markets volatility, inflation, and certain regional conflicts, that can affect our performance in both the near- and long-term. In addition, no assurance can be given that any plan, initiative, projection, goal, commitment, expectation, or prospect set forth in this release can or will be achieved. These forward-looking statements should be considered in light of the information included in this release, our Form 10-K and other filings with the Securities and Exchange Commission. Any forward-looking plans described herein are not final and may be modified or abandoned at any time.

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SOURCE Honeywell

ROSH HAAYIN, Israel, April 1, 2025 /PRNewswire/ — Scodix (TASE: SCDX) the pioneer and global leader in digital embellishment, today announced its financial results and key milestones for the year ending December 31, 2024, marking a significant turning point in the company’s history.

2024 was a year of unprecedented growth and achievement for Scodix, highlighted by the company achieving operational profitability for the first time. The company reported a record $32.1 million in total revenue, representing a 23% year-over-year increase. This growth was fuelled by a 39% surge in system sales and a 4% rise in recurring revenue, demonstrating the strong demand for Scodix’s innovative technology and services.

Key financial highlights include:

Operational Profitability: Achieved for the first time in company historyGross Margin: Reached a robust 40.5%Positive Cash Flow from Operations: Generated $4.41 million

“2024 marks a pivotal moment for Scodix,” said Eli Grinberg, Scodix’s CEO and Co-founder. “We have successfully transitioned to profitability-driven growth, validating our strategic focus on innovation, customer success, and operational excellence. The launch of our next-generation Ultra SHD technology at Drupa 2024, coupled with strategic partnerships with global packaging leaders has significantly strengthened our market position.”

Key Milestones of 2024:

Drupa 2024 Success: Launched the groundbreaking Scodix Ultra 6500 SHD and Ultra 2500 SHD, along with new applications, securing $13 million in pre-signed orders for 17 systems.Expanding Partnerships and Customer Reach: Secured deals with dozens of new global customers and significantly expanded its global network of partners:Secured multi-system deals with Celebrate Company and welcomed new global customers including Jujin (China), Peer Print Ltd (Israel), LPF (France), and Hampden (USA).Partnered with leading substrate and material suppliers: Winter & Company, Fedrigoni, Gmund Paper, and Mondi, which demonstrate Scodix’s ability to attract and serve major players in the packaging industry and highlight its cutting-edge capabilities, including printing on diverse substrates such as canvas and leather-like materials, among many others.Financial solutions provider: PEAC Solutions, a leading multi-national asset finance platform.Expanded distribution network: New distributors worldwide, increasing Scodix’s reach in additional countries.Investment in Open House Events: Implemented targeted, high-ROI marketing events, strengthening customer engagement through training and demonstrations.Customer Success Division: Established a dedicated division to enhance post-sale customer engagement and satisfaction.

“Our commitment to innovation and customer success is driving our momentum,” added Grinberg. “The strong pipeline for analog-to-digital transitions and the expansion of our recurring revenue streams position us for continued growth. We are planning to scale our success and maximize value for our stakeholders.”

Market Growth and Sustainability:

Scodix is capitalizing on the rapidly expanding digital embellishment market, which boasts a 14.2% CAGR[i], the highest growth rate in the industry. This surge is driven by increasing demand for custom packaging, short runs, luxury solutions, and security printing. Scodix stands at the forefront of this growth, leveraging its innovative technology to meet these evolving market needs.

The company’s strategic market leadership is further solidified by its transition to profitability, a historic first, and its ability to capture significant portions of the >$2.5 billion yearly consumables[ii] and >$6 billion total system markets (TAM)[iii]. With over 40 registered patents and 400 installed systems worldwide, Scodix continues to pioneer digital print enhancement solutions. The company’s successful business model, evidenced by 37% of revenue from recurring sales and a 23% YoY revenue growth, underscores the company’s robust market position.

Scodix continues to lead the charge in sustainability, offering the most eco-friendly digital embellishment solution in the industry. The company’s technology boasts an 80% lower environmental impact compared to competitors, significantly reducing carbon emissions, water consumption, and pollutants. LCA studies confirm a 7x lower carbon footprint than analog methods, highlighting Scodix’s commitment to driving a transition to more eco-friendly materials.

This sustainability leadership is particularly relevant in the packaging sector, the fastest-growing segment with an 8% CAGR[iv], where demand for eco-conscious premium solutions is rapidly increasing.

The expansion of Scodix’s partner network and customer base, combined with the positive reception of the Ultra SHD technology at Drupa 2024, creates a strong foundation for the company’s future growth and its position as a market leader.

About Scodix:

Scodix Ltd. is a global leader in digital print embellishment, offering advanced presses that empower print service providers and converters to create value-added products. With 16 embellishment applications – embossing, varnish, foil, variable data, Cast & Cure, glitter, braille, metallic, security, uncoated, and crystal – Scodix solutions enable brands to differentiate while promoting sustainability.

Copyright 2025. All brand names are the property of their respective owners and may or may not be trademarked. Scodix is traded on the Tel Aviv Stock Exchange (SCDX).

Media Contact:
Nick Jones
PR
nick.j@scodix.com

i Business Research Insights; internal analysis
ii Polaris Market Research; internal analysis
iii Grand View Research; internal analysis
iv Mordor Intelligence; internal analysis 

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SOURCE Scodix

MANCHESTER, England, April 1, 2025 /PRNewswire/ — Smartkem (Nasdaq: SMTK), which is seeking to change the world of electronics with a new class of transistor technology, today provides a business update and reports financial results for the three and twelve months ended December 31, 2024.

Smartkem Chairman and CEO, Ian Jenks, commented: “During the fourth quarter of 2024, Smartkem made bold strides towards commercializing our advanced semiconductor materials, which enable flexible, transparent and lightweight MicroLED displays, an industry projected to grow to over $4 billion by 2030.1   We delivered on every key milestone during the quarter, and in December, we raised $7.65 million in equity financing and received a $1.1 million grant from Innovate UK – critical funding to supercharge our momentum, expand our resources, and support our ongoing programs.

“Our commercialization strategy is built on three pillars: advancing our polymer materials, developing EDA tools, and establishing scalable manufacturing processes. Concentrating on executing this strategy, we established some key goals for 2025, which included:

Commencing development work on a rollable, transparent MicroLED display with our partner, AUO;Completing first sale of our TRUFLEX® materials to Chip Foundation under the terms of our co-development agreement;Extending Technology Transfer Agreement with RiTdisplay to transfer Smartkem’s OTFT process from ITRI to RiTdisplay’s Gen2.5 line;Entering into a joint development agreement for a “chip-first” MicroLED display;Entering into additional collaboration and/or co-development agreements that further advance our technology toward commercialization; andProducing a demonstration of a MicroLED display using our OTFT technology.

“Our early wins in 2025, including the project commencement with AUO and the first commercial sales of our TRUFLEX® advanced semiconductor materials show our focus on accelerating towards commercialization of our technology. We are well on our way to delivering further objectives set out including additional joint development agreements and product demonstrations at upcoming industry events. I look forward to updating you of our progress throughout the year as we continue to solidify our position as a global leader in organic transistor technology that has the potential to change the world of electronics,” added Jenks.

Recent Business Highlights

Advanced strategic partnership with RiTdisplay Corporation, a leading developer of optoelectronic solutions, visual displays and passive-matrix OLED displays, in a new phase toward commercialization, including the planned integration of Smartkem’s OTFT process on to RiTdisplay’s Gen 2.5 Pilot Line.Positioned to unveil the first MicroLED-in-a-Package (MiP) Backlight using Smartkem’s unique and proprietary technology at this year’s Touch Taiwan conference in Taipei City, Taiwan which runs from April 16-18th 2025.Completed first sale of TRUFLEX® semiconductor materials to joint development partner, Chip Foundation, a manufacturer of semiconductor and integrated circuit devices, for use in the co-development of a new generation of MicroLED-based backlight technology for Liquid Crystal Displays.Signed multi-year agreement with FlexiIC, a company providing innovation in the design of flexible integrated circuits and systems, to begin a new project to develop a new generation of CMOS for smart sensors.Partnered with AUO, the largest display manufacturer in Taiwan, to jointly develop the world’s first advanced rollable, transparent MicroLED display.Appointed Jonathan Watkins as Chief Operating Officer (COO), with responsibility for global operations and strategic partnerships.Participated at SEMICON® Korea 2025.

Full Year 2024 Financial Highlights:

Completed concurrent public and private offerings in December 2024 for aggregate proceeds of $7.65 million.Received and accepted a £900,000 (USD 1.1 million) grant from Innovate UK for a project partnership with AUO to develop a rollable, transparent MicroLED display.Cash and cash equivalents were $7.1 million as of December 31, 2024, compared to $8.8 million as of December 31, 2023.Revenues were $82 thousand for the year ended December 31, 2024, up compared to $27 thousand for the same period of 2023, primarily due to an increase in the sale of demonstrator products to potential partners, as the company sought to expand its marketing efforts.Operating expenses were $11.5 million for the year ended December 31, 2024, compared to $10.8 million for the same period of 2023.

About Smartkem

Smartkem is seeking to change the world of electronics with a new class of transistor using its proprietary advanced semiconductor materials. Its technology can be used in a range of applications including MicroLED, LCD and AMOLED displays, as well as advanced computer and AI chip packaging, and a new type of sensor.

In seeking to enable the adoption and mass commercialization of MicroLED displays, Smartkem’s low temperature (80C) process allows its liquid transistors to be poured directly onto the MicroLEDs, eliminating many of the high-cost, low-yield manufacturing processes used in traditional production. This innovation reduces defects, enhances yield and integrates seamlessly into existing manufacturing infrastructure, making MicroLED displays more commercially viable across sectors including smartphones, wearables, automatives and digital signage.

Smartkem develops its materials at its research and development facility in Manchester, UK and provides prototyping services at the Centre for Process Innovation (CPI) at Sedgefield, UK. It has a field application office in Taiwan. The company has an extensive IP portfolio including 138 granted patents across 17 patent families, 16 pending patents and 40 codified trade secrets. For more information, visit our website or follow us on LinkedIn.

Forward-Looking Statements

All statements in this press release that are not historical are forward-looking statements, including, among other things, its market position and market opportunity, expectations and plans as to its product development, manufacturing and sales, and relations with its partners and investors. These statements are not historical facts but rather are based on Smartkem, Inc.’s current expectations, estimates, and projections regarding its business, operations and other similar or related factors. Words such as “may,” “will,” “could,” “would,” “should,” “anticipate,” “predict,” “potential,” “continue,” “expect,” “intend,” “plan,” “project,” “believe,” “estimate,” and other similar or elated expressions are used to identify these forward-looking statements, although not all forward-looking statements contain these words. You should not place undue reliance on forward-looking statements because they involve known and unknown risks, uncertainties, and assumptions that are difficult or impossible to predict and, in some cases, beyond the Company’s control. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described in the Company’s filings with the Securities and Exchange Commission. The Company undertakes no obligation to revise or update information in this release to reflect events or circumstances in the future, even if new information becomes available.

Industry Representatives and Media
Selena Kirkwood
Head of Communications for Smartkem
T: +44 (0) 7971 460 364
s.kirkwood@smartkem.com

Analysts and Investors
David Barnard, CFA
Alliance Advisors Investor Relations
T: 1 415 433 3777
dbarnard@allianceadvisors.com

1 2024 Omdia Report

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