Malta Backs UK Chip Startup Quinas Tech with Key Investment

Jan de Vries · 2026-05-08

Quinas Technology, a London-based DeepTech semiconductor startup, just got a big vote of confidence from Malta. The company, which builds memory tech for AI, data centers, and edge computing, has secured investment approval from Malta Government Venture Capital (MGVC). On May 7, 2026, MGVC gave the green light under its co-investment framework. The exact amount? They're keeping that under wraps for now. But here's the kicker: the funding depends on match financing and will fuel Quinas's expansion into Malta. The startup is also gearing up for its Seed round. ### What This Means for Quinas James Ashforth-Pook, co-founder and CEO, put it simply: "We're thrilled to get this commitment from MGVC. It shows Malta's serious about backing deep-tech companies at the cutting edge of semiconductor innovation. This gives us a solid foundation as we push ULTRARAM toward commercial deployment." Quinas was spun out of Lancaster University's Physics Department in 2023. The founding team includes Ashforth-Pook, Dr. Peter Hodgson (CTO), and Prof. Manus Hayne. They're all-in on ULTRARAM, a patented ultra-low power non-volatile memory technology. ### The Tech Behind ULTRARAM So, what makes ULTRARAM special? It claims to combine the speed and endurance of DRAM with the persistence of flash memory. That's a big deal for AI and edge-compute systems, where bottlenecks are a constant headache. Here's the science bit: it uses a quantum-mechanical process called resonant tunneling. This lets ULTRARAM deliver non-volatility with fast, energy-efficient writes and erases, plus high endurance. The company says this combo was thought impossible until now. Think of it as flash memory that acts like DRAM but doesn't forget when the power goes off. ### Why Malta's Involved Malta Government Venture Capital backs innovative, high-growth companies that boost the country's economy and tech priorities. They do it through equity and quasi-equity investments. This deal is part of Malta's bigger plan: attract high-value, knowledge-intensive tech firms. They want to strengthen their position in advanced semiconductor research, IP development, and commercialization. For Quinas, that means a path to real-world deployment. A spokesperson for MGVC added: "Semiconductors are foundational for economic resilience and national competitiveness. Quinas Technology is exactly the kind of high-value, IP-driven company that fits Malta's long-term vision to attract advanced tech investment and talent." ### Quinas's Global Game Plan Quinas is setting up a Maltese presence as part of a broader strategy spanning the UK, Europe, and Asia. Malta will handle corporate structuring, strategic operations, and future commercial activity. Earlier this year, in April, Quinas wrapped up an Innovate UK-funded project exploring ULTRARAM for neuromorphic computing. That program ran under the UKRI "Developing Semiconductor Hardware for Critical Technologies" scheme. ### The Big Picture This investment isn't just about one startup. It signals how smaller nations like Malta are carving out niches in the global semiconductor race. By backing deep-tech innovators, they're betting on IP and talent over manufacturing scale. For Quinas, it's a launchpad. For the rest of us, it's a glimpse into the future of memory tech.