Nanoco Group PLC US Customer partnership update (9660C)
21 Giugno 2019 - 8:00AM
UK Regulatory
TIDMNANO
RNS Number : 9660C
Nanoco Group PLC
21 June 2019
21 June 2019
NANOCO GROUP PLC
("Nanoco", the "Company" or the "Group")
US Customer partnership update
Nanoco Group plc (LSE: NANO), a world leader in the development
and manufacture of cadmium-free quantum dots and other specific
nanomaterials emanating from our technology platform, today updates
the market on its business with its US Customer (the 'US
Company').
In January 2019, the Group announced a major contract extension
to its initial agreement with the US Customer, covering a range of
stress testing and commissioning services of the Runcorn facility
in the twelve month period to December 2019.
The US Customer has now informed Nanoco that the project will
not continue beyond the current contract, for reasons wholly
unconnected to the performance of our materials and our service
delivery. Other potential uses for the technology are being
explored with a range of customers, including the US Customer. The
Group also continues to work on a number of opportunities in a
range of sectors including display.
This decision does not affect the current contract which runs
until the end of December 2019. The Group still expects to deliver
a cash breakeven positon, as previously announced, for the twelve
months ending December 2019 and to have a cash balance of
approximately GBP6.0m at that time.
At this time, revenues and associated cash flows under contract
for the next financial year ending 31 July 2020 amount to
approximately GBP4.0m, the majority of which are included in the
forecast cash position at 31 December 2019.
This announcement contains inside information as defined in EU
Regulation No. 596/2014 and is in accordance with the Group's
obligations under Article 17 of that Regulation.
The person responsible for arranging for the release of this
announcement on behalf of the Group is Brian Tenner, Chief
Operating Officer and Chief Financial Officer.
For further information, please contact:
Nanoco Group PLC Tel: +44 (0) 161 603 7900
Michael Edelman, Chief Executive
Officer
Brian Tenner, Chief Financial Officer
Caroline Watson, Investor Relations Tel: + 44 (0) 7799 897357
Manager
cwatson@nanocotechnologies.com
MHP Communications Tel: +44 (0) 20 3128 8570
Reg Hoare / Giles Robinson / Pete
Lambie
nanoco@mhpc.com
Notes for editors:
About Nanoco Group plc
Nanoco (LSE: 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(R) 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 has non-exclusive manufacturing and marketing licensing
agreements in display with The Dow Chemical Company, Merck KGaA of
Germany and Wah Hong Industrial Corporation of Taiwan.
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. For further information
please visit: www.nanocogroup.com.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
UPDFMGZVFGNGLZZ
(END) Dow Jones Newswires
June 21, 2019 02:00 ET (06:00 GMT)
Grafico Azioni Nanoco (AQSE:NANO.GB)
Storico
Da Giu 2024 a Lug 2024
Grafico Azioni Nanoco (AQSE:NANO.GB)
Storico
Da Lug 2023 a Lug 2024