News: LEDs
25 August 2025
Plessey Semiconductors acquired by Haylo Labs
Plessey Semiconductors Ltd of Plymouth, UK — which develops embedded micro-LED technology for augmented-reality and mixed-reality (AR/MR) display applications — has been acquired by London-based Haylo Labs, which has been established by Haylo Ventures (a venture operator founded in 2023 to build and scale deep-tech businesses) to focus specifically on the micro-LED, optical compute, and interconnect sectors.
Haylo Labs has committed to investing over £100m in the UK over the next five years to scale manufacturing capacity and grow the workforce in Plymouth and beyond.
The global micro-LED market is forecast to grow from £2.7bn ($3.7bn) in 2024 to over £592bn ($800bn) by 2034, driven by demand across augmented reality (AR) and virtual reality (VR), automotive displays, premium consumer electronics (such as VR headsets and smart glasses) and optical computing. This comes at a pivotal moment for the sector, where these technologies are becoming embedded in everyday products, driving demand for advanced, ultra-efficient displays and optical computing units to unprecedented levels.
Founded in 1956 and with a 270-strong team, Plessey Semiconductors has developed a fully integrated platform capable of designing, manufacturing and engineering next-generation display technologies entirely in-house. This end-to-end control, combined with a strong intellectual property portfolio, positions Plessey to scale micro-LEDs from laboratory innovation to high-volume production, the firm reckons.
Plessey’s acquisition by Haylo Labs is expected to strengthen the UK’s position in immersive computing and next-generation technology.
“Plessey has built the world’s most advanced micro-LED platforms, with the highest efficiency to date, and is one of the only facilities in the world that can offer customers an end-to-end design and manufacturing facility with technology and talent that surpasses rivals anywhere globally,” reckons Haylo Labs’ chief executive & co-founder David Hayes. “This acquisition is not just about backing British innovation — it’s about unlocking its global potential in one of the fastest-growing markets over the next decade,” he adds.
“This important investment in Plessey will secure Plymouth’s position as a global leader in manufacturing some of the most advanced and in-demand technology in the world,” comments Rebecca Smith MP, Member of Parliament for South West Devon.
The processes and tools used to fabricate micro-LEDs can also be repurposed to create optical processing units (OPUs), which are suited to performing the complex mathematical calculations required by AI operations that currently consume vast amounts of energy. Optical computing units (OCUs) represent a new generation of light-based chips that are faster, cooler and more energy-efficient than existing silicon devices. Plessey says that it is committed to leveraging its expertise to develop real-world optical computing solutions at scale.
“This acquisition is about enabling the future of AI-powered devices that are lightweight, energy-efficient, and wearable in the real world,” says Haylo Labs’ co-founder Claire Valoti. “The UK has the opportunity to lead, not follow, the next wave of global computing. Our investment will fuel innovation and expand the local talent pool, creating opportunities at a time when skilled jobs in advanced manufacturing are critically needed.”
“The Haylo Labs acquisition will accelerate Plessey’s commercial scaling, bringing transformative micro-LED and optical computing technologies to the global market,” says Plessey Semiconductors’ chief executive Keith Strickland. “We are focused on expanding our manufacturing footprint here in Plymouth and strengthening our engineering talent pool,” he adds. “This investment underscores our commitment to sustainable growth and innovation in the UK.”
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