REG - Nanoco Group PLC - Joint Development Agreement with Asian Customer

NanocoAnnouncement

07/11/2023 07:00

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RNS Number : 5466S  Nanoco Group PLC  07 November 2023

FOR IMMEDIATE
RELEASE
                                7 November 2023

 

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 Asian Customer

 

Nanoco Group plc (LSE: NANO), a world leader in the development and
manufacture of cadmium-free quantum dots and other specific nanomaterials
emanating from its technology platform, is pleased to announce it has signed a
major new JDA with its important Asian Chemical customer (the "Customer").

The two-year programme has now commenced and creates a longer term and deeper
collaboration between the two companies, who have been working together since
June 2021.

The JDA follows on from the successful delivery of all technical milestones in
the six short development projects previously undertaken for the Customer
which were focused on delivering a novel second generation nanomaterial for
use in infra-red sensing. With proof of concept now achieved, the key goal of
the JDA is to optimise the material for the performance required by a number
of global electronics applications. Once this is successfully delivered, the
subsequent stage will involve scale up to industrial production levels during
2026 and 2027.

The JDA helps to underpin the Board's expectations for non-license fee income
in FY24, which are in line with FY23 and is also expected to deliver
additional sales of test materials during FY24 and FY25.

Brian Tenner, Nanoco's CEO, commented:

"The JDA marks a significant milestone during our collaboration with an
important customer and in delivering world leading levels of performance for
our new second generation sensing material.

"The extended commitment highlights our Customer's confidence and belief in
Nanoco and the applicability of quantum dot technology to the significant
global infra-red sensing markets in which it operates. Our customer is a very
significant player in electronics supply chains and extends Nanoco's reach to
their many customers.

"We are encouraged that both of our current key customers continue to show
strong momentum in their engagements with Nanoco and continue to feed our
pipeline of new material development to ensure future commercial production
income streams. We look forward to developing these relationships further as
progress continues."

 

- Ends -

The person responsible for arranging for the release of this announcement on
behalf of Nanoco is Liam Gray, Chief Financial Officer.

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:
 
 
 
+44 (0) 1928 761 422

Brian Tenner, CEO

Liam Gray, CFO & Company Secretary

 

Peel Hunt (Joint Corporate
Broker):                                                                                    +44
(0) 20 7418 8900

Paul Gillam

Richard Chambers

James Smith

 

Turner Pope Investments (Joint Corporate Broker):
                                     +44 (0) 20 3657 0050

Andrew Thacker

James Pope

 

MHP:
 
                                      +44 (0) 20 3128 8793

Reg Hoare/Matthew Taylor/Christian Harte

nanoco@mhpgroup.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 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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