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I think the cost being prohibitive is probably right.

In their presentations STMicro/Jonathan Steckel have stressed the low cost of the technology. Clearly it is a critical factor.

As much as I struggle to see AVPs being as ubiquitous as the iPhone, I don't think Apple would be entering the market if it didn't believe it could revolutionise it.

I agree though that getting excited about AVP sale volumes is premature. Getting dots into a smartphone would be massively better for Nanoco.

No mention of it using QDs and in another article it says the sensor reaches a QE of 38% at 940nm, apparently "the highest level of QE in the industry".

Well, with QDs you can get QE of 55% at 940, so it seems that the sensor isn't using QDs and a competitor QD sensor would thrash it on QE.

I know completely agree. The only sensor which has some specific information to hang your hat on is the VD55G1 which claims 55% QE at 940nm, which is well about normal silicon QE and exactly in line with Jonathan Steckel's presentations showing the QE with NIR QDs.

As I've said before, begs the question why they aren't disclosing the QD film. I've speculated (1) they don't contain QDs (2) they don't want to highlight the lead element of the QDs (3) they want to keep the tech as secret as possible.

Nanonano, I'm not sure that sensor has QDs as it is being shipped from China and I think all the QD sensors are coming from France which is the centre of the QD r&d and production. May be wrong though (and happy to be so).

Sorry I meant to say that I honestly wouldn't even be that excited if the projected sales were 100 million in 2027. That's the same as one popular phone.

Please everyone, the value of the Vision Pro using QDs is not about future sales figures but about other, higher volume devices, seeing QDs being used and copying it, and good publicity which should boost the share price to an unknown extent.

Honestly, I wouldn't

1. With the 1.22 hedge secured, they should return 12p. I don't see any reason to return less.

2. I don't think a significant premium i.e. over 5% on a buyback/tender offer is wise. More than anything, LOAM recently made a big purchase at 15p, so if they start buying back at above the market rate it could raise serious MAR questions if LOAM sell anything. The last thing we need is more conjecture from Mr Hamoodi.

3. Giving shareholders the option of a capital vs income return, if achievable, sounds good.

You're right Nanonano. I look at it from the perspective of comparing other growth stocks, many of whom have no revenue, larger market caps and only the promise of revolutionary tech. By contrast, Nanoco is fully funded and has a reasonable, even likely, chance of significant growth in its materials.

Anyway, I'm not bothered by the low price. When/if volumes rise there will be a rerating.

Is it really that vague at this moment in time? The fact that two materials are in volume production and are being supplied to STMicro?

It's impossible to predict as with trading volume so low you only need a couple of significant buyers to send the share price much higher.

The fact that the "market" has shrugged its shoulders at the first commercial order suggests imho that the capital return is unlikely to do much, but who knows.

Credit where credit's due, the 1.22 hedge looks like it could save the company over 2 million quid.

Thanks for that clarification IDL70

We haven't had confirmation yet that the European customer has signed a JDA for the second gen materials, but it would be very surprising if it didn't.

The Asian customer could well be incentivised by the first gen materials being on the market to accelerate its own development.

Thanks Nanonano.

I'm not sure, but presumably high enough to make InGaas unviable given that they're taking images of the person's face?

This is an interesting article: https://www.newelectronics.co.uk/content/news/trinamix-demonstrates-consumer-spectroscopy-solution/

Trinamix have developed a spectroscopy feature that detects light in the 1000-3000nm range. I am pretty sure that's the SWIR range but can anyone confirm?

If so, that would presumably need QDs since InGaas would be too expensive. No mention of who is providing the sensor, but since Trinamix and STMicro are collaborating on under-Oled facial recognition there's a good chance it's STMicro.

It's a complete unknown how the share price might react to the disclosure that Nanoco's dots are in the Vision Pro.

If the share price is still trading around cash levels you could certainly see it surging if there's lot of hype. On the other hand, the first commercial order was supposed to be an inflection point and nothing's happened there. It's anyone's guess.

Not wanting to curb your enthusiasm TG2D, but I really don't see why it matters whether the Vision Pro comes out in January, March or November next year. The sales numbers are going to be small for the next few years. The only real upside is good publicity from being associated with Apple, and who knows how much that will help. This all assumes the device uses QDs.

Presumably an error

A teardown by a third party would be helpful in identifying whether there are any STMicro chips. And the Vision Pro datasheet may well state that SWIR/NIR sensors are being used. But it would.require Nanoco to do its own teardown before it could notify the market that its dot were in the device.