Nanoco Group PLC Expansion of Material Development Agreement (6970L)
23 Abril 2018 - 3:00AM
UK Regulatory
TIDMNANO
RNS Number : 6970L
Nanoco Group PLC
23 April 2018
This announcement contains inside information as defined in EU
Regulation No. 596/2014 and is in accordance with the Company's
obligations under Article 17 of that Regulation.
NANOCO GROUP PLC
("Nanoco" or the "Company")
Expansion of Material Development Agreement
Expanded contract with US listed partner for the development of
next generation nano-materials with applications for advanced
electronic devices
Nanoco Group plc (LSE: NANO), a world leader in the development
and manufacture of cadmium-free quantum dots and nano-materials,
confirms that it has signed a second agreement with its undisclosed
US listed partner (the "Partner"), further to the Material
Development and Supply Agreement between the two companies
announced on 8 February 2018. The terms of the new agreement
include additional success based milestone payments and
development-based funding.
Under this expanded agreement, and in parallel with all current
commitments to the Partner, Nanoco will develop next generation
nano-materials for applications in future technologies including
advanced electronic devices. This development activity will begin
immediately and will be conducted at Nanoco's Manchester, UK
R&D facility.
As previously disclosed, the Partner is funding the capital
expenditure required to expand the manufacturing capabilities of
Nanoco's existing Runcorn facility in order to supply the Partner
with commercial volumes of product. This process is already
underway, with an agreement reached in March to take over 10,000
sq. ft. of additional space in Runcorn to build a state-of-the-art
production facility in order to commence commercial supply in
January 2019. All timelines for the agreement announced on 8
February remain on schedule.
Michael Edelman, Chief Executive of Nanoco, said:
"We are extremely pleased to announce today's development
agreement with our new US listed Partner which further demonstrates
the significant momentum we are seeing across our business and the
potential applications of our technology across multiple end
markets.
"As a business, we are proud to be innovators in the development
of nano-materials, with extensive intellectual property and
specialist knowledge that gives us a clear competitive lead in this
technology. Under this new agreement we will be developing an
exciting new generation of nano-materials for use in future
technologies."
For further information, please contact:
Nanoco Group PLC Tel: +44 (0) 7799 897 357
Caroline Watson, Investor Relations Manager
Cwatson@nanocotechnologies.com
MHP Communications Tel: +44 (0) 20 3128 8570
Reg Hoare / Giles Robinson / Pete Lambie
nanoco@mhpc.com
Notes for editors:
About Nanoco Group plc
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,
nano-materials 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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