Member Info for Nanonano

"What was the total investment for the new fab? "

According to the Edison interview, about $500k. New equipment would have been several $m.

"embellish- make (a statement or story) more interesting by adding extra details that are often untrue."

"nanoco spent a packet on a new factory"

Runcorn facility was built to manufacture dots, paid for by the US customer and is now several years old. Clearly there are costs to rent the facility, but they've reduced expenditure by closing the Manchester Office and integrating all operations into one building.

"now have a factory producing zero dots and a sunk cost! "

We don't know the volume of dots being produced at Runcorn, but safe to say it isn't zero, but clearly not huge volumes either.

"saved a bob or two fitting it out with second hand equipment"

The wafer equipment is really more aligned with R&D than production and to accelerate adoption with existing and (hopefully) future customers, I consider that a very good use of funds.

TG2D has been following this company for long enough to know all this.

Whether the rest of the speculation proves to be the case we will have to wait and see.

I think you are embellishing rather more than has been presented TG2D.

I think it's very possible STM were working with a specific customer initially, and perhaps that customer's expectations for their own product has not been met, therefore they have now delayed further orders until demand increases or they can find further custom.

For the latter, the lack of promotion by STMicro regarding this technology is strange though, IMO.

"This board would be silent if posters would only stick to the facts"

The board will liven up on news, good or bad.

The 2nd July RNS clearly was news, but the content was bound to provoke discussions.

However too many parties like to take the argument ad hominem, but I think it's a bit rich to come on here moaning about all the noise when you're such a major contributor to that, TW.

"Nanonano it depends on the definition of the word 'device' I believe the 'device' BT referred to as the global shutter camera itself and not a end user consumer device such as a mobile or AVP."

I haven't considered any of the company communications are referring to AVP or any other thrid party device. I simply consider that the use of the sensors was most likely to be something like the AVP. The company have said a VR headset would be a likely candidate for low volume use in its presentations.

I still think the Gen 1 materials are linked to the AVP.

Media reports are that sales of the device have not yet reached 100k in North America, and have not met expectations, so this could certainly influence a follow up order for devices from component suppliers.

I realise BT poured cold water on the idea with regards to production timescales, but the addition of the QD film looks like a later stage of the production process, so perhaps STM could have got the devices ready quicker than Nanoco realise.

I still struggle to think of a more suitable alternative device for the current technology.

Here's my view on things with regards to risk.

1. Gen 1 delayed. Why? We don't know.

2. Zero visibility of Gen 1 intended use beyond prototype showcases, either in chip form or final product.

3. Delays eat into existing capital. The company has £20m cash after buyback, but in two or three years, how much then?

4.Gen 2 at least two years away (I think it could be more like three to four years), all assuming it gets to the point of production.

5. Presently no visibility of business in display. Companies don't appear to be beating a path to Nanoco to switch supply post IP validation.

STMicro were initially named, then wished to be referred to as the European customer thereafter leading up to validation of Gen 1 materials.

However for Gen 2 materials they seem to be willing to be named. Will this change when/if the materials get closer to validation, if not then it begs the question why the secret squirrel mandate with Gen 1?

From what I’ve seen of the various technologies being worked on, there are a myriad of differences in approach and they all seem to have various pros and cons. Rather like OLED I suspect small screen microled screens may take a very different path to large screen devices.

I was looking more for evidence of possible adoption of cad free QD’s in existing tech like QD enhanced LCD.

That text was taken directly from the RNS, hence the use of quotation marks.

The delay in orders was used with the computer monitors, in the end the customers went with cadmium dots. I recall Nanoco had to be directly questioned to follow up about this.

Reference to the ‘anchor customer is to referenced to display, not sensing.

“ · The Group continues with some small-scale commercial engagements for customers interested in display materials, although no new anchor customer has been signed at this time.”

AirPods have incorporated SWiR sensors for sometime, but they’re ingaas based and of very low resolution. They’re used to sense when the pods are in the ear.

https://www.patentlyapple.com/2022/07/details-behind-apples-skin-detect-sensor-introduced-with-their-3rd-gen-airpods-has-been-revealed-in-new-patent.html

If they have a shindig for happy shareholders, it'll be a small affair at present.

Regardless of the settlement, what business have they managed to secure since then? Very little by the looks of it, and since the RNS on the 2nd July, a recurring income from Gen 1 sensing is looking exceedingly shaky and no sign of a partner in display.

Samsung was supposed to be a cherry on a cake, cake now looks like a stale bun.

If it turns out that Gen 1 has been give boot by STM, I think the company may come under pressure to seek out a buyer.

Plenty here who've been invested for far longer, and haven't traded in and out of the share.

Personally am disappointed in the (lack of) organic growth and information around it. Too many shadows, not enough light, and the decent money always seems to be two years away.

Without any good news, I think the buyback is presently preventing the price sliding down towards cash value

"The article below says you can achieve over 90% NIR QE using thicker silicon."

At 850nM. AT 940nM efficiency is hugely lower for silicon, and above 1000nM almost non-existent. However a lot of research is going into extending silicone into upper NIR and lower SWIR bandwidths.

"I. Leclerc said there are other product releases that they won’t be discussing

II. There are more products coming

Read into that what you will."

No mention of QD's, so doesn't really mean much at all.

I tend to think either the materials sent to STMicro are sitting on a shelf somewhere, or they've been used in a small contract for an exclusive product which has not met original sales expectations.

If STMicro are looking to punt these new sensors about, they're doing a terrible job, so something doesn't add up.

Think we'd do well to bear in mind the II's have sold as much of their holding as they could within the parameters of the tender offer, and as of yet have not bought back in.