TIDMNANO
RNS Number : 4599Y
Nanoco Group PLC
13 May 2021
FOR IMMEDIATE RELEASE 13 May 2021
Nanoco Group PLC
( " Nanoco, the " Group", or the " Company")
Project Extension
Nanoco Group plc (LSE: NANO), a world leader in the development
and manufacture of cadmium-free quantum dots and other
nanomaterials emanating from its technology platform, today
announces that it has signed an agreement for a development project
with an important European electronics customer.
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."
- Ends -
For further information, please contact:
Nanoco Group PLC :
Brian Tenner, CEO +44 (0) 161 603 7900
Liam Gray, UK FD and & Company Secretary +44 (0) 161 603
7900
Caroline Watson, Investor Relations Manager +44 (0) 161 603
7900
cwatson@nanocotechnologies.com
Peel Hunt:
Edward Knight
+44 (0) 20 7418 8900
Nick Prowting
MHP Communications : +44 (0) 203 128 8570
Reg Hoare
Giles Robinson
Pete Lambie
nanoco@mhpc.com
The person responsible for arranging for the release of this
announcement on behalf of Nanoco is Liam Gray, Company
Secretary.
MAR
The information contained within this announcement is considered
by the Company to constitute inside information as stipulated under
the Market Abuse Regulation (EU) No. 596/2014. Upon the publication
of this announcement via a Regulatory Information Service, this
inside information will be considered to be in the public
domain.
FORWARD LOOKING STATEMENTS
This announcement (including information incorporated by
reference in this announcement) and other information published by
Nanoco may contain statements about Nanoco that are or may be
deemed to be forward looking statements. Such statements are
prospective in nature. All statements other than historical
statements of facts may be forward looking statements. Without
limitation, statements containing the words "targets", "plans",
"believes", "expects", "aims", "intends", "will", "may",
"anticipates", "estimates", "projects" or "considers" or other
similar words may be forward looking statements.
Forward looking statements inherently contain risks and
uncertainties as they relate to events or circumstances in the
future. Important factors such as business or economic cycles, the
terms and conditions of Nanoco's financing arrangements, tax rates,
or increased competition may cause Nanoco's actual financial
results, performance or achievements to differ materially from any
forward looking statements. Due to such uncertainties and risks,
readers are cautioned not to place undue reliance on such forward
looking statements, which speak only as of the date hereof. Nanoco
disclaims any obligation to update any forward looking or other
statements contained herein, except as required by applicable
law.
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 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.nanocotechnologies.com .
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END
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