SmartKem Inc.

Smartkem Welcomes State-Level Support for Carbonium Core’s Proposed Nuclear Graphite Manufacturing Unit

Proposed transaction with Carbonium Core, Inc. to establish domestic nuclear-grade graphite manufacturing in Tennessee, USA

*for illustrative purposes only

MANCHESTER, United Kingdom, Feb. 03, 2026 (GLOBE NEWSWIRE) -- Smartkem, Inc. (Nasdaq: SMTK), (“Smartkem” or the “Company”), a leader in advanced materials, today announced that Carbonium Core, Inc. (“Carbonium Core”), with whom Smartkem recently announced a non-binding letter of intent (“LOI”), has received state-level support for its proposed nuclear graphite manufacturing unit. Carbonium Core is a U.S.-based advanced materials company focused on the domestic production of nuclear graphite.

State Senator Jessie Seal, Vice-Chairman of the Tennessee Senate Energy, Agriculture and Natural Resources Committee welcomed Carbonium Core’s planned nuclear graphite manufacturing presence in Tennessee’s Cumberland Gap region and cited its potential to drive job creation and economic growth.

“This upcoming manufacturing unit is a major win for our local community,” Senator Seal said. “This development will bring many quality jobs, outstanding economic growth, and new opportunities for our communities. I would like to offer my full support to Carbonium Core, Inc. and I look forward to working closely with them to ensure everyone’s long-term success.”

If completed, the proposed transaction would combine Smartkem’s advanced materials and process expertise with Carbonium Core’s vertically integrated platform for producing nuclear graphite, a critical material used in next-generation nuclear reactor technologies, including small modular reactors (SMRs) and Generation IV designs.

Carbonium Core is focused on establishing a fully domestic supply chain for nuclear graphite, encompassing purification, graphitization, shaping, and finishing. This end-to-end approach is intended to ensure consistent quality, performance, and security of supply, while reducing reliance on overseas sources of reactor-grade graphite.

“We welcome the strong support from Tennessee leadership for Carbonium Core’s planned nuclear graphite manufacturing presence in the state,” said Ian Jenks, Chief Executive Officer of Smartkem. “If completed, the proposed transaction would bring together Carbonium Core’s vertically integrated nuclear graphite capabilities with Smartkem’s advanced materials and process innovation to help establish a secure, domestic supply chain for a material that is critical to the future of nuclear energy.”

Subject to completion, the transaction is expected to support the development of a U.S.-based nuclear graphite manufacturing footprint in Tennessee, leveraging the state’s industrial infrastructure, skilled workforce, and proximity to advanced energy and manufacturing supply chains. The project is designed to support U.S. energy security objectives through domestic production of nuclear graphite using environmentally responsible processing methods.

Completion of the proposed transaction is subject to satisfactory due diligence, execution of definitive agreements, receipt of required approvals, and other customary closing conditions. There can be no assurance that any definitive agreements will be negotiated or executed, that the proposed transaction will be consummated on the terms described herein, or at all, or as to the timing or final terms of any transaction. Smartkem will provide further updates as appropriate, in accordance with applicable disclosure requirements.

About Smartkem
Smartkem is seeking to change the world of electronics with a new class of transistors developed using its proprietary advanced semiconductor materials. Our TRUFLEX^® semiconductor polymers enable low temperature printing processes that are compatible with existing manufacturing infrastructure to deliver low-cost, high-performance electronics. Our semiconductor platform can be used in a range of technologies including MicroLED, LCD and AMOLED, as well as in applications in advanced computer and AI chip packaging, sensors, and logic.  

Smartkem designs and develops its materials at its research and development facility in Manchester, UK and operates a field application office in Hsinchu, Taiwan, close to collaboration partner, The Industrial Technology Research Institute (ITRI), where it provides prototyping services. Smartkem is developing a commercial-scale production process and Electronic Design Automation (EDA) tools to demonstrate the commercial viability of manufacturing a new generation of displays using its materials.   

The company has an extensive IP portfolio including 141 granted patents across 17 patent families, 15 pending patents and 40 codified trade secrets. 

For more information, visit the Smartkem website or follow on LinkedIn.  

About Carbonium Core, Inc.
Carbonium Core, Inc. is a U.S.-based advanced materials company focused on producing nuclear-grade graphite for 4th-generation reactors. Its mission is simple – to secure a resilient, sustainable, and competitive domestic supply of this critical material through science, innovation, and responsible sourcing.

Carbonium Core, Inc. combines: cutting-edge materials engineering, exclusive purification technology, vertically integrated supply chain – from mine to reactor, and sustainable and scalable production – reducing waste, cost, and carbon footprint.

For more information, visit the Carbonium Core, Inc. website.

Forward-Looking Statements
All statements in this press release that are not historical are forward-looking statements, including, among other things, statements regarding the anticipated timing, proposed terms and the Company’s ability to close the proposed transaction with Carbonium Core; the anticipated benefits of the proposed transaction with Carbonium Core; Carbonium Core’s planned nuclear graphite manufacturing presence in Tennessee’s Cumberland Gap region and the facility’s potential to drive job creation and economic growth; Smartkem Inc.’s 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 uncertainties inherent in the negotiation of business transactions, the ability to satisfy closing conditions as well as other risks 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, except as required by law.  

Contacts
Selena Kirkwood
Head of Communications for Smartkem
s.kirkwood@smartkem.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/9831ee03-d1a5-4f2e-8478-382d336be55b