Nanoco Group signs development project with European electronics customer

Nanoco Group signs development project with European electronics customer

LONDON: Nanoco Group plc (LON: NANO) has signed an agreement for a development project with an important European electronics customer.

Nanoco Group plc (LON: NANO) is a world leader in the development and manufacture of cadmium-free quantum dots and other nano-materials emanating from its technology platform.

The project began in May 2020 and was the first piece of work to be performed under the long-term Quantum Dot Material Supply Agreement (‘QDMSA’ or ‘Agreement’).

The project extension moves the successful Phase 1 development work to the next stage. Nanoco will continue working on a range of materials for a number of potential applications.

The extension increases the Board’s expectation for revenue in FY21 by approximately 40% with the balance of the project revenue to be earned in the first quarter of FY22. The contribution generated allows us to maintain our current operational business for the duration of the extension and our overall cash runway to H2 of calendar year 2022.

Brian Tenner, Nanoco’s CEO, commented: “This is an important next step in our work with electronics materials. Successful delivery of the next stages of the project will further demonstrate the interest of the electronics industry in Nanoco’s technology in the medium term.

“Growth in mega-trends in a number of sectors utilising infra-red sensors accelerated very significantly across the globe in the second half of 2020. Nanoco’s technology adds significant capability and enhanced functionality for devices in those sectors. This creates a promising landscape for the exploitation of our materials and the leveraging of our electronic materials production facility in Runcorn.”

Nanoco Group plc (LON: NANO) harnesses the power of nano-materials. Nano-materials are materials with dimensions typically in the range 1 – 100 nm.

Nano-materials have a range of useful properties, including optical and electronic. Quantum dots are a subclass of nano-material that have size-dependent optical and electronic properties. The Group produces quantum dots. Within the sphere of quantum dots, the Group exploits different characteristics of the quantum dots to target different performance criteria that are attractive to specific markets or end-user applications such as the Display and Electronics markets. One of the interesting properties of quantum dots is photoluminescence: the emission of longer wavelength light upon excitation by light of a shorter wavelength. The colour of light emitted depends on the particle size.

Nanoco’s CFQD quantum dots are free of cadmium and other toxic heavy metals and can be tuned to emit light at different wavelengths across the visible and infrared spectrum, rendering them useful for a wide range of applications including displays, lighting and biological imaging.

Nanoco was founded in 2001 and is headquartered in Manchester, UK, with a US subsidiary, Nanoco Inc., in Concord, MA. Nanoco continues to build out a world-class, patent-protected IP portfolio generated both by its own innovation engine, as well as through acquisition.

Nanoco is listed on the Main Market of the London Stock Exchange and trades under the ticker symbol NANO.

Nanoco Group PLC share price

27.77 GBX −0.23 (0.82%)

12 May, 4:43 pm GMT+1 · Disclaimer

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