TIDMNANO
RNS Number : 6687J
Nanoco Group PLC
30 June 2017
30th June 2017
NANOCO GROUP PLC
("Nanoco" or the "Company")
Nanoco receives first commercial order for the supply of CFQD(R)
resin
Order placed by leading global manufacturer Wah Hong
Nanoco Group plc (LSE: NANO), the leading developer and
manufacturer of cadmium-free quantum dots and other nanomaterials,
is today pleased to announce that it has received its first
commercial order from Wah Hong Industrial Corporation ("Wah Hong"),
one of the world's largest manufacturers of optical films and
sheets for the display industry, for the supply of resins
containing Nanoco's cadmium-free quantum dots (CFQD(R)).
The CFQD(R) resin products, which will be produced in Nanoco's
manufacturing facility in Runcorn and delivered to Wah Hong, will
be converted into films by Wah Hong and supplied to an Original
Equipment Manufacturer (OEM) for usage in TV and monitor
products.
This first order is for initial production, which is expected to
ramp up over the coming months. Nanoco and Wah Hong expect that
cutting edge branded products containing Nanoco's CFQD(R) resin
will begin appearing in the international display market during the
second half of the 2017 calendar year.
Further demonstrating the Group's continued momentum, Nanoco
today confirms that its CFQD(R) technology is now being evaluated
in 16 active TV and monitor programmes with 13 major OEMs (4 April
2017: 14 active programmes with 9 OEMs).
C P Yeh, President of Wah Hong Industrial Corp, said:
"We are pleased to announce our first orders for Nanoco's
CFQD(R) resin following an extensive trial sampling programme
performed over recent months. As a business, we recently invested
in a new, wider coating line that will enable films large enough to
fit 100 inch TVs to be produced and we remain on track to commence
production of CFQD(R) films for our customers during the second
half of 2017."
Michael Edelman, CEO of Nanoco, said:
"After announcing in April that Nanoco is engaged with more near
term commercial opportunities than at any time in its history, I am
delighted to confirm the first commercial orders of our CFQD(R)
resin for delivery in July 2017. This represents a significant
milestone for our business and justification of the commercial
potential for Nanoco's cadmium-free quantum dot technology in the
international display industry. We are confident that the scale of
orders should increase over the coming months.
"In light of increasing global regulations restricting the use
of cadmium, including the imminent ban by the European Commission
of cadmium in display products, manufacturers across the world are
seeking more sustainable solutions that still deliver outstanding
color performance."
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations.
- ENDS -
For further information, please contact:
Nanoco Tel: +44 (0) 161 603 7900
Dr Michael Edelman, Chief Executive Officer
David Blain, Chief Financial Officer
Caroline Watson, Investor Relations Manager Tel: + 44 (0) 7799
897357
cwatson@nanocotechnologies.com
Peel Hunt Tel: +44 (0) 20 7418 8900
Adrian Trimmings
George Sellar
MHP Communications Tel: +44 (0) 20 3128 8570
Reg Hoare / Andrew Leach / Giles Robinson / Pete Lambie
nanoco@mhpc.com
Notes to Editors
ABOUT WAH HONG INDUSTRIAL CORPORATION
Wah Hong is the world's largest optical film coating and cutting
company. Based in Taiwan, Wah Hong serves global customers in the
display industry from five factories in China, one in Malaysia and
one in Indonesia. It has a reputation for quality and has strong
customer relationships among display companies in Taiwan, China and
Japan. Its LCD product range includes all types of optical film
including diffusion, reflection, prismatic and multi-function films
along with light guide sheets and other products.
Wah Hong is quoted on the Taipei Exchange. For further
information: www.wahhong.com.
ABOUT NANOCO
Nanoco (LSE: NANO) harnesses the power of nano-technology to
create a brighter, more sustainable future. Based on breakthrough
science, Nanoco's proprietary manufacturing process enables the
large-scale production of its cadmium-free CFQD(R) quantum dots for
multiple applications including LCD display, lighting, healthcare
and solar.
Nanoco has non-exclusive manufacturing and marketing licensing
agreements in display with The Dow Chemical Company, Merck KGaA of
Germany, and Wah Hong Industrial Corporation of Taiwan.
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.nanocogroup.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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June 30, 2017 02:01 ET (06:01 GMT)
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