TIDMNANO
RNS Number : 8009M
Nanoco Group PLC
02 May 2018
NANOCO GROUP PLC
("Nanoco" or the "Group")
Nanoco Group PLC launches new business, Nanoco 2D Materials
Ltd
Nanoco 2D Materials Ltd raises seed funding and announces
collaboration with The University of Manchester and Nobel Laureate,
Professor Konstantin Novoselov
Nanoco Group plc (LSE: NANO), a world leader in the development
and manufacture of cadmium-free quantum dots and nano-materials,
announces the launch of Nanoco 2D Materials Ltd "2D Materials", a
wholly owned subsidiary focused on the development and
commercialisation of a new generation of nano-materials.
Two dimensional nano-particles are a platform technology which
are one or two atoms thick and a few nanometres wide and represent
a burgeoning field of material science. Currently there is no
cost-effective way to produce these 2D materials on a commercial
scale nor any reliable method to ensure consistent properties
suitable for the wide range of potential electronics, industrial
and other applications.
For the past year Nanoco has been collaborating with Professor
Novoselov, 2010 winner of the Nobel Prize for Physics for his work
on graphene, with the goal to establish feasibility for these
exciting new materials. Based on the positive results seen to date,
2D Materials has been created to formalise the partnership between
the two groups, ensure funding is in place and continue the
development of the technology.
The GBP400,000 funding comes from The University of Manchester
in the form of a 10-year convertible loan note which carries a 6.5%
coupon.
Dr Nigel Pickett, CTO and co-founder of Nanoco, said:
"By combining Nanoco's expertise with the knowledge base from
Professor Novoselov's lab we have been able to push the boundaries
of material science to come up with a new generation of versatile
2D nano-particles and are now utilising Nanoco's 15 years of
scale-up expertise on methods to produce them at commercial scale.
Potential commercial applications for these materials span across a
wide range of sectors including novel catalysts, photo-detectors,
photovoltaics, inverters and light emitting devices."
Professor Novoselov added:
"It is exciting to see how quickly 2D materials, beyond
graphene, has accelerated from the early research stage to the
technology we now have. Working with a very knowledgeable and
dedicated Nanoco team continues to be a very refreshing experience.
The ability of our combined teams to focus on particular
technological and performance parameters is allowing the rapid
development of these 2D Materials."
Clive Rowland, CEO of the University's innovation company UMI3,
commented:
"Part of the University's strategy for commercialising graphene
and its sister 2D materials is to work with existing companies and
entrepreneurs to help them set-up R&D centres and new companies
close to the campus to create a technology innovation ecosystem
here - Graphene City(R). I'm delighted that we are working with
Nanoco, which itself is a spin-out from the University. Its
experience in the handling and scaling up of nanomaterials and
access to its relevant facilities were key factors in us deciding
to support this initiative."
About the convertible note:
The GBP400,000 funding comes from The University of Manchester
in the form of a 10-year convertible loan note which carries a 6.5%
coupon. Interest payments are accrued until conversion or repayment
of the loan takes place. The loan note is convertible into new
shares of 2D Materials and any conversion event is dependent on an
additional GBP1m of third party investment into 2D Materials or
sale or flotation of 2D Materials.
For further information, please contact:
Nanoco Tel: +44 (0) 161
6037900
Michael Edelman, Chief Executive
Officer
David Blain, Chief Financial
Officer
Caroline Watson, Investor Tel: + 44 (0) 7799
Relations Manager 897357
cwatson@nanocotechnologies.com
Peel Hunt Tel: +44 (0) 20
7418 8900
Adrian Trimmings
George Sellar
MHP Communications Tel: +44 (0) 20
3128 8788
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.
About UMI3
The University of Manchester I3 Ltd (www.umi3.com) is The
University of Manchester's agent for intellectual property
commercialisation. UMI3 is wholly owned by the University which has
over a 30 year history of IP commercialisation.
UMI3's role is to bring as much of the University's
ground-breaking inventions and software, as is relevant, into the
commercial world. This we do principally by attracting
entrepreneurs, investors and corporate venture partners to our
campus and Innovation Centre (www.umic.co.uk) and then, through
engagement with our academic colleagues, licensing or spinning out
companies.
Since 2004 over 4,000 invention disclosures have been received.
UMI3 has set up 41 spin-out companies and 51 social enterprise
spin-outs, staff start-ups and assisted student start-ups. Over
7,500 licences and assignments have been brokered and over GBP360M
has been invested by 3(rd) party venture funders in University of
Manchester spin-outs, a number of which have received national and
regional enterprise awards. It currently has over 100 projects in
its portfolio at various stages of development.
The University's IP enterprises have generated over GBP115M to
the University through the sale of shares in spin-outs, licensing
income and through IP grants and contracts activity.
For more information, please visit www.umip.com
This information is provided by RNS
The company news service from the London Stock Exchange
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