Quinas Technology Receives Investment Approval From Malta Government Venture Capital

MGVC approved the investment under its co-investment framework to support the growth of the UK-based company. While the funding amount has not been disclosed, it is conditional on matching investment and will be used to support Quinas Technology’s planned expansion in Malta.

The company is currently preparing for its Seed funding round.
Founded in 2023 as a spinout from Lancaster University’s Physics Department, Quinas Technology was established by James Ashforth-Pook, Dr Peter Hodgson (CTO), and Prof. Manus Hayne.

The company is developing ULTRARAM™, a patented ultra-low power non-volatile memory technology designed to combine the speed and endurance of DRAM with the data retention of flash memory.

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The innovation targets key performance and efficiency bottlenecks in AI, edge computing, and other high-performance digital systems.

Quinas collaborates with academic and industrial partners to advance memory solutions for AI, edge devices, and secure computing applications.

Its technology is positioned within a broader effort to enable faster, more energy-efficient computing architectures.

MGVC, which supports high-growth, innovation-driven companies through equity and quasi-equity investments, said the backing aligns with Malta’s strategy to attract advanced technology firms and strengthen its capabilities in semiconductor research, intellectual property development, and commercialisation.

As part of its international expansion strategy spanning the UK, Europe and Asia, Quinas Technology is establishing a presence in Malta. The company says Malta will support corporate structuring, strategic operations and future commercial activities, contributing to its wider global growth plans.

Quinas completed an Innovate UK-funded project under the UKRI “Developing Semiconductor Hardware for Critical Technologies” programme, exploring applications of its ULTRARAM™ technology in neuromorphic computing.

“We are delighted to receive this commitment from the Malta Government Venture Capital. It 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,” said James Ashforth‑Pook, co‑founder and CEO of Quinas Technology.

A spokesperson for Malta Government Venture Capital added “Semiconductors are a foundational technology for economic resilience and national competitiveness. Quinas Technology represents the type of high‑value IP‑driven company that aligns with Malta’s long term vision to attract advanced technology investment and talent.”