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

NanocoAnnouncement

12/01/2024 10:00

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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®) 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® 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™ 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 (http://www.nanocotechnologies.com)

 

 

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