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2.50 0.00 (0.00%)

Bid:

2.50

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2.80

Spread: 0.30 (12.00%)

Market Cap: £4.56m

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Nanoco Extends Contract With US Client To Develop Runcorn Facility

Fri, 25th Jan 2019 11:24

LONDON (Alliance News) - Nanoco Group PLC on Friday said it has signed a contract extension to deliver additional services and materials to an undisclosed US company.

The stock was trading 5.2% higher on Friday at 45.87 pence a share.

The cadmium-free quantum dots manufacturer said the deal follows on the material development & supply agreement signed in February last year, under which Nanoco has completed a number of technical milestones and upgraded the Runcorn energy-from-waste facility in England.

The contract extension will run from January to December. During that period, Nanoco will carry out stress testing and process optimization on the new production facility.

Looking ahead, the company said it remains in active discussion on additional potential commercial agreements with a number of parties.

"This extension is a clear demonstration of Nanoco's unique capabilities and value proposition with respect to designing and producing complex nano-materials," said Nanoco Chief Executive Michael Edelman.

"We look forward to further strengthening and deepening the relationship with the US customer," added Edelman.