Additional Work Package for European Customer

RNS Number : 5206R

Nanoco Group PLC

05 November 2021

 

FOR IMMEDIATE RELEASE    5 November 2021

Nanoco Group PLC

( " Nanoco, the " Group", or the " Company")

Additional Work Package for European Customer

Nanoco Group plc (LSE: NANO), a world leader in the development and manufacture of cadmium-free quantum dots and other nanomaterials emanating from its technology platform, today announces that it has signed an agreement with an important European electronics customer (the "Customer") for the delivery of an enhanced version of its technology.

This additional delivery supports the Board's revenue expectations for FY22 (the financial year ending 31 July 2022), which are consistent with the £2.0m of revenue generated in FY21. The revenue from the third work package will contribute to the Group's performance in the first half of FY22.

Brian Tenner, Nanoco's CEO, commented:

"This is an important next step in our electronics materials' development project with this Customer. Each successful delivery of work package milestones takes us closer to potential product validation and commercial production orders in the short to medium term.

"Favourable trends continue in significant global sectors utilising infra-red sensors. Our confidence in the viability and applicability of Nanoco's nano-materials grows steadily as we advance through each development stage, subject to final customer adoption of the technology in end use devices."

- Ends -

For further information, please contact:

Nanoco Group PLC :

Brian Tenner, CEO      [phone]

Liam Gray, UK FD and & Company Secretary                                                                           [phone]

Caroline Watson, Investor Relations Manager  [phone]

[e-mail]

Peel Hunt:

Edward Knight                                                                                                                                [phone]

James Smith

MHP Communications :                                                                                                               [phone]

Reg Hoare 

Pete Lambie

[e-mail]

The person responsible for arranging for the release of this announcement on behalf of Nanoco is Liam Gray, Company Secretary.

MAR

The information contained within this announcement is considered by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014.  Upon the publication of this announcement via a Regulatory Information Service, this inside information will be considered to be in the public domain.

FORWARD LOOKING STATEMENTS

This announcement (including information incorporated by reference in this announcement) and other information published by Nanoco may contain statements about Nanoco that are or may be deemed to be forward looking statements.  Such statements are prospective in nature.  All statements other than historical statements of facts may be forward looking statements.  Without limitation, statements containing the words "targets", "plans", "believes", "expects", "aims", "intends", "will", "may", "anticipates", "estimates", "projects" or "considers" or other similar words may be forward looking statements.

Forward looking statements inherently contain risks and uncertainties as they relate to events or circumstances in the future.  Important factors such as business or economic cycles, the terms and conditions of Nanoco's financing arrangements, tax rates, or increased competition may cause Nanoco's actual financial results, performance or achievements to differ materially from any forward looking statements.  Due to such uncertainties and risks, readers are cautioned not to place undue reliance on such forward looking statements, which speak only as of the date hereof.  Nanoco disclaims any obligation to update any forward looking or other statements contained herein, except as required by applicable law.

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 and other nano-materials. 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, Sensor and Electronics markets. An interesting property of quantum dots is their absorption spectrum. Nanoco's HEATWAVE™ quantum dots can be tuned to absorb light at different wavelengths across the near-infrared spectrum, rendering them useful for applications including image sensors. Another interesting property 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 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.nanocotechnologies.com.

 

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