REG - Nanoco Group PLC - Additional Work Package for European Customer

NanocoAnnouncement

17/03/2022 07:00

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RNS Number : 0584F  Nanoco Group PLC  17 March 2022

FOR IMMEDIATE
RELEASE
                                17 March 2022

Nanoco Group PLC

("Nanoco, the "Group", or the "Company")

 

Additional Work Package for significant 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 further
agreement with its important European electronics customer (the "Customer")
for the delivery of an enhanced and scaled up version of its technology.

As a result of the additional agreement, the Board now expects revenue in FY22
(the financial year ending 31 July 2022) to exceed the £2.1m of revenue
generated in FY21. The revenue from this fourth work package with the Customer
will contribute to the Group's performance in the third quarter of FY22.

Brian Tenner, Nanoco's CEO, commented:

"This agreement is a further important milestone on Nanoco's path to
commercial production of materials for sensing applications. As part of that
path, the Board has decided to re-locate R&D and scale up activities from
the Manchester R&D centre to our Runcorn production site. This move will
streamline product development as we prepare our Runcorn facility for
commercial production.

"Global interest continues to grow in the use of Nanoco's nanomaterials in a
very wide range of potential infra-red sensing applications. We remain focused
on our short to medium term goal of commercialising Nanoco's nanomaterials
with meaningful production volumes, subject to final customer adoption of the
technology in end use devices."

 

- Ends -

For further information, please contact:

Nanoco Group PLC:

Brian Tenner, CEO
 
                    +44 (0) 161 603 7900

Liam Gray, CFO & 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

James Smith

 

MHP
Communications:                                                                                                      +44
(0) 203 128 8990

Reg Hoare

Pete Lambie

Charlie Protheroe

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 and other
nano-materials. 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, Sensor and Electronics markets. An interesting property of
quantum dots is their absorption spectrum. Nanoco's HEATWAVE™ quantum dots
can be tuned to absorb light at different wavelengths across the near-infrared
spectrum, rendering them useful for applications including image sensors.
Another interesting property 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. For further information please visit:
www.nanocotechnologies.com.

 

 

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