Last checked at 15 Dec 2016 07:00
For immediate release | 15 December 2016 |
NANOCO GROUP PLC
("Nanoco" or the "Company")
AGM Statement
Nanoco Group plc (LSE: NANO), a world leader in the development and manufacture of cadmium-free quantum dots and other nanomaterials, will hold its Annual General Meeting ("AGM") later this morning at its headquarters in Manchester.
Dr Chris Richards, Nanoco's Chairman, will make the following statement:
"I am excited by the progress that Nanoco has made following the announcement of our preliminary results in October. We continue to benefit from our decision to adopt a non-exclusive strategy in the display market. Our progress will be underlined at next month's CES, the consumer electronics show in Las Vegas, where we will showcase televisions using our CFQD® Fine Color film.
"This film has been produced by our film coating partner, Wah Hong Industrial Corporation ("Wah Hong"), using cadmium-free quantum dots manufactured in Runcorn. Wah Hong is manufacturing film under Nanoco's CFQD® Fine Color film brand and supplying the film to potential customers for televisions of up to a 60 inch screen size. Commercial discussions are ongoing with various Asian display OEMs for use of the CFQD® Fine Color film.
"Based on high market demand and rapid progress to date, Wah Hong has decided to bring forward by 12 months its planned investment in a further film coating production line. The new line is expected to be operational by the second quarter of calendar year 2017 and will allow Wah Hong to supply film for display screens of up to 100 inches.
"Nanoco's improved production process for green CFQD®s, which has significantly increased quality and yield at our Runcorn production facility, has been successfully transferred to The Dow Chemical Company ("Dow"), which is making good progress in customer sampling under the TREVISTA™ quantum dot brand. The transfer of Nanoco's CFQD® technology to Merck is also progressing well. Merck is already producing small scale volumes of CFQD®s, whilst planning a new, large scale manufacturing facility.
"The development of Nanoco's own commercial manufacturing business continues apace and we are very pleased to announce today that we have been awarded ISO 9001:2015 certification for our production and supply processes. This certification is significant as it provides reassurance to both major and specialist customers that the Company's quality systems are robust.
"We look forward to the year ahead with confidence."
For further information, please contact:
Nanoco | Tel: +44 (0) 161 603 7900 |
Michael Edelman, Chief Executive Officer |
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David Blain, Chief Financial Officer |
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Caroline Watson, Investor Relations Manager | Tel: + 44 (0) 7799 897357 |
cwatson@nanocotechnologies.com |
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Peel Hunt | Tel: +44 (0) 20 7418 8900 |
Adrian Trimmings |
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George Sellar |
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Buchanan | Tel: +44 (0) 20 7466 5000 |
Mark Court / Sophie Cowles / Stephanie Watson |
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Notes for editors:
About Nanoco Group plc
Nanoco is a world leader in the development and production of cadmium-free quantum dots and other nanomaterials for use in multiple applications including LCD displays, lighting, solar cells and bio-imaging. In the display market, Nanoco has a non-exclusive manufacturing and marketing licensing agreements with The Dow Chemical Company, Merck KGaA and Taiwan's Wah Hong Industrial Corporation. Nanoco also has a strategy of direct sales in display and in its other target markets, including lighting.
Nanoco was founded in 2001 and is headquartered in Manchester, UK. It has production facilities in Runcorn, UK, and a US subsidiary, Nanoco Inc, based in Concord, MA. Nanoco also has business development executives in Japan, Korea and Taiwan. Its technology is protected worldwide by a large and growing patent estate.
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.nanocogroup.com.