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      Skywater Tech Inc. (SKYT) Stock Skyrockets Following Expansion of Existing Agreement with Rockley Photonics - Stocks Telegraph

      By Shimrez Hyder

      Published on

      August 24, 2021

      3:38 PM UTC

      Skywater Tech Inc. (SKYT) Stock Skyrockets Following Expansion of Existing Agreement with Rockley Photonics - Stocks Telegraph

      Skywater Tech Inc. (SKYT) stock prices surged by 26.23% shortly after market trading commenced on August 24th, 2021. This brought the price per share up to USD$25.99 early on in the trading day.

      Expansion of SKYT Stock’s Agreement

      August 24th, 2021 saw SKYT stock announce having expanded their engagement with Rockley Photonics, a leading global silicon photonics tech company. The trusted tech realization partner’s agreement includes wafer back-end-of-line processing for Rockley’s spectrophotometer-on-a-chip health monitoring solution. The expanded relationship is part of the multi-sourcing efforts at Rockley and will enhance the partner company’s manufacturing network reliability and scalability.

      About Rockley Photonics

      During its development phase, Rockley made use of SKYT stock’s Advanced Tech Services, after which it transitioned to production Wafer Services for front-end processing. Now the company makes use of back-end-of-line assembly capabilities at SKYT’s advanced packaging facility in Florida. The company’s Technology as a Service (TaaS) model sees the combination of process research and development, wafer fabrication, and advanced packing tech services. These serve to provide customers with powerful competitive advantages. This includes, but is not limited to, supply chain transparency, robust IP protection, and an accelerated time to market.

      SKYT Stock’s Synergy with Rockley

      Rockley is provided with a domestic U.S source for advanced wafer local components by SKYT stock. This is a critical part of the partner company’s multi-source supply-chain strategy. Consolidating its partnership with SKYT is a critical step in facilitating the expansion of Rockley’s manufacturing ecosystem as the company targets high-volume consumer and industrial applications. The expansion of the existing multi-year collaboration with Rockley demonstrates the companies’ shared vision for Rockley’s unique silicon photonics platform.

      Scope of Skywater Tech Stock’s Partnership

      Rockley has facilitated the detection of biomarkers that were previously undetectable by consumer devices using non-invasive technologies. the company expects to be able to overcome the main issues faced with mobile wellness monitoring. Existing wearable consumer electronic devices use green light-emitting diodes to monitor heart rate. The company’s infrared spectrophotometers have the ability to detect and monitor a myriad of biomarkers. This could serve to dramatically increase the functionality of wearable services.

      Future Outlook for SKYT

      The company reported a promising quarter, consolidated by the recent expansion of its agreement with Rockley Photonics. The company is keen to leverage the resources at its disposal to usher in organic growth over the long term. Investors are confident in management’s ability to facilitate consistent increases in shareholder value.

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