TIDMNANO
RNS Number : 5427Z
Nanoco Group PLC
12 January 2024
FOR IMMEDIATE RELEASE
12 January 2024
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (596/2014/EU) AS THE
SAME HAS BEEN RETAINED IN UK LAW AS AMENDED BY THE MARKET ABUSE
(AMENDMENT) (EU EXIT) REGULATIONS (SI 2019/310) ("UK MAR").
Nanoco Group PLC
( " Nanoco", the " Group", or the " Company")
Joint Development Agreement ("JDA") with the European
Customer
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 a Statement of Work with significant
joint development activities (the "JDA") with STMicroelectronics,
an important European electronics customer ("ST").
The JDA is a two year programme to optimise the performance of a
second generation sensing material to be developed by Nanoco. The
new JDA will include revenue for services that Nanoco will soon be
able to offer in the extended Runcorn facility, particularly in
device testing and analytical services.
If all of the technical milestones in the two years of the JDA
are achieved, the next step in the process will be to scale the new
material into an industrialised process capable of supporting high
volume applications.
The JDA helps to underpin the Board's expectations for
non-license fee income in FY24, which are in line with FY23. The
JDA is also expected to deliver additional sales of test materials
during FY24 and FY25.
Brian Tenner, Nanoco's CEO, commented:
"The Group's significantly improved financial position allows us
to proactively invest to accelerate development of new materials
and new service capabilities. The new 200mm wafer device capability
is one such example. This expanded range of services has created a
compelling offering for ST who will be the first to take advantage
of these new capabilities in the future.
"Further production orders received for first generation sensing
materials will be in parallel with this JDA. ST's commitment to
developing a second generation material, emphasises Nanoco's
ability to be a robust partner in complex electronics supply
chains."
- Ends -
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 contain inside information for the purposes of UK
MAR. Upon the publication of this announcement via a Regulatory
Information Service, this inside information will be considered to
be in the public domain.
For further information, please contact:
Nanoco Group PLC :
Brian Tenner, CEO +44 (0)1928 761 404
Liam Gray, CFO & Company Secretary
Cavendish Capital Markets Limited (Financial Adviser & Joint
Corporate Broker):
Ed Frisby / George Lawson (Corporate Finance)
+44 (0) 20 7220 0500
Tim Redfern / Charlie Combe (Corporate Broking)
Jasper Berry (Sales)
Turner Pope Investments (Joint Corporate Broker):
Andrew Thacker +44 (0) 20 3657 0050
James Pope
MHP :
+44 (0) 203 128 8100
Reg Hoare
Matthew Taylor
Christian Harte
nanoco@mhpgroup.com
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) is a nano-material production company,
specialising in the production of its patented cadmium free quantum
dots (CFQD(R)) and other patented nano-materials for use in the
electronics industries.
Founded in 2001 and headquartered in Runcorn, UK, Nanoco
continues to build out a world-class, patent-protected IP portfolio
alongside the scaling of the production for commercial orders.
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. 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 Sensor, Electronics and Display
markets. 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 display applications.
Nanoco's HEATWAVE(TM) quantum dots can be tuned to absorb light at
different wavelengths across the near-infrared spectrum, rendering
them useful for applications including cameras and image
sensors.
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.
visit: www.nanocotechnologies.com
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END
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