Last checked at 24 Dec 2018 07:00
24 December 2018
NANOCO GROUP PLC
("Nanoco" or the "Group")
Milestone Achieved
Nanoco Group plc (LSE: NANO), a world leader in the development and manufacture of cadmium-free quantum dots and other specific nanomaterials emanating from our technology platform, today announces that it has completed a significant milestone established as part of the Material Development and Supply Agreement announced in February 2018 with its undisclosed US Customer (the "US Company").
This milestone (the third of three) has been completed within with the timetable set out in the agreement and reflects the significant progress being made. The total value of all milestones in this programme triggered to date is £4.2m with this third milestone valued at £1.6m.
Michael Edelman, Chief Executive of Nanoco, said:
"We are pleased to announce the delivery of the third and final milestone for our US Customer. We continue to discuss other potential services and deliverables and our aim is to deepen and lengthen our relationship with this important collaboration."
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For further information, please contact:
Nanoco Group PLC:
Brian Tenner, COO & CFO +44 (0) 161 603 7900
Caroline Watson, Investor Relations Manager +44 (0) 7788 897 357
cwatson@nanocotechnologies.com
MHP Communications: +44 (0) 203 128 8570
Reg Hoare / Giles Robinson / Pete Lambie
nanoco@mhpc.com
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. 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 and Electronics markets. One of the interesting properties 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® 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 has non-exclusive manufacturing and marketing licensing agreements in display with The Dow Chemical Company, Merck KGaA of Germany and Wah Hong Industrial Corporation of Taiwan.
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.nanocogroup.com.