Key Takeaways
- • Quinas Technology, a London-based DeepTech semiconductor startup, secured investment approval from Malta Government Venture Capital (MGVC) on May 7, 2026, under a co-investment framework with funding contingent on match financing.
- • The company is developing ULTRARAM™, a patented ultra-low power non-volatile memory technology that combines DRAM-like speed and endurance with flash memory persistence, addressing critical bottlenecks in AI and edge-compute systems.
- • ULTRARAM™ exploits quantum-mechanical resonant tunnelling to deliver non-volatility with fast, energy-efficient write and erase cycles and high endurance—a performance combination previously considered unachievable.
- • Quinas Technology was founded in 2023 as a spinout from Lancaster University's Physics Department by James Ashforth-Pook (CEO), Dr. Peter Hodgson (CTO), and Prof. Manus Hayne; the company is currently preparing its Seed funding round.
- • The MGVC investment reflects Malta's strategic focus on supporting deep-tech semiconductor innovation and provides foundational capital for Quinas Technology's commercial expansion of ULTRARAM™.
Summary
Quinas Technology, a London-based semiconductor startup specializing in advanced memory technologies for artificial intelligence and edge computing, has received investment approval from Malta Government Venture Capital. The investment was approved on May 7, 2026, under MGVC's co-investment framework. While the specific funding amount was not disclosed, the commitment is contingent on match financing and targets the company's expansion activities in Malta.
Founded in 2023 as a spinout from Lancaster University's Physics Department, Quinas Technology was established by James Ashforth-Pook (CEO and co-founder), Dr. Peter Hodgson (CTO), and Prof. Manus Hayne. The company is developing ULTRARAM™, a proprietary ultra-low power non-volatile memory technology designed to address critical performance and energy efficiency challenges in AI infrastructure and edge-computing systems. According to company materials, ULTRARAM™ achieves a technological combination long considered impossible: the non-volatility of flash memory with performance characteristics exceeding traditional DRAM.
The core innovation underlying ULTRARAM™ is its exploitation of quantum-mechanical resonant tunnelling, which enables the technology to deliver non-volatility alongside fast, energy-efficient write and erase operations with high endurance. This positions the technology as a potential solution for applications requiring both persistent data storage and rapid computational performance—a critical requirement in modern AI and data center architectures.
CEO James Ashforth-Pook stated that the MGVC commitment "reflects Malta's ambition to support deep-tech companies at the forefront of semiconductor innovation and provides an important foundation as we continue to scale ULTRARAM™ towards commercial deployment." The company is currently preparing its Seed funding round, indicating that the MGVC investment serves as validation ahead of broader capital raising efforts. The approval signals institutional confidence in the company's technology and commercial trajectory within the European venture capital ecosystem.
Founded in 2023 as a spinout from Lancaster University's Physics Department, Quinas Technology was established by James Ashforth-Pook (CEO and co-founder), Dr. Peter Hodgson (CTO), and Prof. Manus Hayne. The company is developing ULTRARAM™, a proprietary ultra-low power non-volatile memory technology designed to address critical performance and energy efficiency challenges in AI infrastructure and edge-computing systems. According to company materials, ULTRARAM™ achieves a technological combination long considered impossible: the non-volatility of flash memory with performance characteristics exceeding traditional DRAM.
The core innovation underlying ULTRARAM™ is its exploitation of quantum-mechanical resonant tunnelling, which enables the technology to deliver non-volatility alongside fast, energy-efficient write and erase operations with high endurance. This positions the technology as a potential solution for applications requiring both persistent data storage and rapid computational performance—a critical requirement in modern AI and data center architectures.
CEO James Ashforth-Pook stated that the MGVC commitment "reflects Malta's ambition to support deep-tech companies at the forefront of semiconductor innovation and provides an important foundation as we continue to scale ULTRARAM™ towards commercial deployment." The company is currently preparing its Seed funding round, indicating that the MGVC investment serves as validation ahead of broader capital raising efforts. The approval signals institutional confidence in the company's technology and commercial trajectory within the European venture capital ecosystem.
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