The Archer Materials Ltd (ASX: AXE) share price is taking off following an update on the company’s ‘lab-on-a-chip’ technology.
The company recently integrated a graphene layer that is just one atom thick with silicon electronics. Now, the microscopic graphene electronic properties have been found to be retained post-processing and integration with silicon.
At the time of writing, the Archer Materials share price is 97 cents, 11.49% higher than its previous close.
Though, earlier today it surged 19.5% to trade at $1.04.
Let’s take a closer look at the news driving the materials technology company’s stock higher on Thursday.
One step closer to creating ‘lab-on-a-chip’
The Archer Materials share price is in the green on news the tech company has successfully measured and confirmed the electronic transport in the integrated graphene device.
The device is part of the development of the company’s biochip. The biochip is expected to see droplets of biological specimens analysed and processed using graphene-based sensors.
If all goes to plan, the biochip will allow for ultrasensitive detection and analysis of diseases.
The direct electronic measurements results announced by the company today are an important step towards building graphene-based transistors.
Such transistors are integral to the operation of Archer’s biochip technology.
“Prior to this latest work, Archer had achieved the integration of graphene in silicon electronics,” said Archer Materials CEO Dr Mohammad Choucair.
Archer has now successfully performed complex post-integration lithography and atom-thick materials’ device processing that preserve graphene’s advanced electronic properties.
The electronic transport measurements performed by the Archer team are the fundamental link with respect to using graphene in transistor technology intended for future biosensing operations in Archer’s biochip devices.
Archer Materials share price snapshot
Sadly, today’s gains haven’t been enough to boost the Archer Materials share price back into the green on the ASX.
Right now, the company’s stock is trading for 19% less than it was at the start of 2022.
Though, it’s 12% higher than it was this time last year.
The post ‘Fundamental link’: Here’s why the Archer Materials (ASX:AXE) share price is surging 11% appeared first on The Motley Fool Australia.
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Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
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