TIDMNANO
RNS Number : 1401O
Nanoco Group PLC
28 May 2020
FOR IMMEDIATE RELEASE 28 May 2020
Nanoco Group PLC
( " Nanoco, the " Group ", or the " Company")
Quantum Dot Material Supply Agreement
Agreement with STMicroelectronics further underpins cash runway
to 2021
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 Quantum Dot Material Supply
Agreement ('QDMSA' or 'Agreement') with STMicroelectronics
International NV ('ST').
The QDMSA is a framework agreement that covers both development
work and commercial supply of nano-materials for use in various
infra-red sensing applications over an initial five-year period.
The Agreement extends the collaboration that was in place while
both companies were working for our mutual significant US
Customer.
Orders for development work on material for a new application
and small scale volumes of an existing material have already been
received. The first phase of the development work which started in
April is scheduled to last until December 2020.
The new purchase orders are material in size for Nanoco and
underpin the extended operational cash runway to Q2 2021, as
recently announced in our Interim Results on 30 April 2020. Any
further purchase orders will improve that position. The QDMSA also
commits ST to certain minimum volumes in the event that future
commercial production orders are required.
Dr Michael Edelman, Nanoco's CEO, commented:
"We are very pleased with this latest development in our
collaboration with ST. Both companies have been working actively to
generate value from our previous two years of investments in
developing new materials, devices, and mass production capabilities
for use in infra-red sensing. The Agreement now enables us find new
routes to market in the short term, and potential new applications
in the medium term.
"ST's deep knowledge of the sensing markets and multiple
potential applications and customers makes them an ideal strategic
customer for Nanoco. Nanoco's materials deliver a very significant
performance enhancement to ST's silicon based infra-red sensors. A
medium term roadmap to commercial production volumes, enabled by
our newly developed materials, is taking shape. This will allow us
to leverage the value from our recent investment in our new Runcorn
electronics materials production facility."
- Ends -
For further information, please contact:
Nanoco Group PLC :
Michael Edelman, CEO
+44 (0) 161 603 7900
Brian Tenner, COO & CFO
+44 (0) 161 603 7900
Caroline Watson, Investor Relations Manager +44 (0) 7799 897
357
cwatson@nanocotechnologies.com
Peel Hunt:
Edward Knight
+44 (0) 20 7418 8900
Nick Prowting
MHP Communications : +44 (0) 203 128 8570
Reg Hoare
Giles Robinson
Pete Lambie
nanoco@mhpc.com
The person responsible for arranging for the release of this
announcement on behalf of Nanoco is Brian Tenner, Chief Financial
Officer.
MAR
The information contained within this announcement is considered
by the Company to constitute inside information as stipulated under
the Market Abuse Regulation (EU) No. 596/2014. Upon the publication
of this announcement via a Regulatory Information Service, this
inside information will be considered to be in the public
domain.
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) 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. 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 and Electronics markets. One of the interesting properties
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(R) 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 .
About STMicroelectronics
ST is a global semiconductor leader delivering intelligent and
energy-efficient products and solutions that power the electronics
at the heart of everyday life. ST's products are found everywhere
today, and together with our customers, we are enabling smarter
driving and smarter factories, cities and homes, along with the
next generation of mobile and Internet of Things devices. By
getting more from technology to get more from life, ST stands for
life.augmented.
In 2019, the Company's net revenues were US$9.56 billion,
serving more than 100,000 customers worldwide. Further information
can be found at www.st.com .
For further information, please contact:
INVESTOR RELATIONS:
Céline Berthier
Group VP, Investor Relations
Tel: +41.22.929.58.12
celine.berthier@st.com
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
AGRSEUFAWESSEEI
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