TIDMNANO
RNS Number : 6838N
Nanoco Group PLC
06 June 2022
FOR IMMEDIATE RELEASE 6 June 2022
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")
Major Work Package for 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 major work package (the "Work
Package") with its important European electronics customer (the
"Customer"). This follows on from the previous four work packages
for the Customer that were successfully delivered over the last two
years.
The Work Package commenced on 1 May 2022 and is for one year.
The contract delivers a monthly revenue run rate equivalent to that
delivered in H1 FY22 and further underpins our cash runway to H1
CY23. Additionally, the working capital arrangements in the
contract support Nanoco establishing a more robust supply chain of
raw materials. As a result, the Board now expects to exceed its
recently increased revenue expectations for FY22.
Brian Tenner, Nanoco's CEO, commented:
"This is a very important step for Nanoco. It creates a
significantly more stable financial environment for operations and
business planning compared to the previous series of short,
quarterly, work packages. The addition of new materials to the
development pipeline emphasises the long-term nature of our
relationship with our customer.
"Furthermore, the support for working capital will enhance our
readiness for visibility of potential commercial production orders
in the second half of CY22. Any production orders received will be
in addition to this work package. We continue our efforts to
consolidate our R&D and scale up activities in our Runcorn
production facility ahead of final product validation and potential
commercial orders.
"While we take nothing for granted with regard to commercial
orders, we remain focused on our short to medium term goal of
commercialising Nanoco's nanomaterials with meaningful production
volumes, subject to final customer adoption of the technology in
end use devices."
- Ends -
For further information, please contact:
Nanoco Group PLC :
Brian Tenner, CEO
+44 (0) 161 603 7900
Liam Gray, CFO & Company Secretary +44 (0) 161 603 7900
Peel Hunt:
Edward Knight +44 (0) 20 7418 8900
James Smith
MHP Communications :
+44 (0) 203 128 8990
Reg Hoare
Pete Lambie
Charlie Protheroe
nanoco@mhpc.com
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.
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 and other
nano-materials. 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, Sensor and
Electronics markets. An interesting property of quantum dots is
their absorption spectrum. Nanoco's HEATWAVE(TM) quantum dots can
be tuned to absorb light at different wavelengths across the
near-infrared spectrum, rendering them useful for applications
including image sensors. Another interesting property 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.
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.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
CNTBBGDLLBGDGDU
(END) Dow Jones Newswires
June 06, 2022 02:01 ET (06:01 GMT)
Nanoco (AQSE:NANO.GB)
Gráfico Histórico do Ativo
De Jun 2024 até Jul 2024
Nanoco (AQSE:NANO.GB)
Gráfico Histórico do Ativo
De Jul 2023 até Jul 2024