Nanoco Group PLC Progress Update (5114U)
July 30 2015 - 02:03AM
UK Regulatory
TIDMNANO
RNS Number : 5114U
Nanoco Group PLC
30 July 2015
For immediate release 30 July 2015
NANOCO GROUP PLC
("Nanoco" or the "Company")
Progress Update
Nanoco Group plc (LSE: NANO), a world leader in the development
and manufacture of cadmium-free quantum dots and other
nanomaterials, provides the following update on progress with the
commercialisation of its technology.
Nanoco is making very significant progress in the display
industry where it is working with a wide range of display OEM
customers based in Korea, China, Japan, Taiwan and the US. In
total, Nanoco is actively working with 11 display OEMs, ranging
from major multi-national companies, such as LG Electronics, to
emerging consumer electronics brands.
The work is focused on the incorporation of Nanoco's
cadmium-free quantum dots into the OEM customers' display products,
predominantly large screen televisions but also tablets and other
devices. Sample materials to support these OEMs are being supplied
from Nanoco's Runcorn production facility.
The pace of this work with display OEMs has increased in the
run-up to The Dow Chemical Company ("Dow"), Nanoco's worldwide
licensing partner for display applications, commissioning its mass
production plant in South Korea. As announced earlier this month,
Dow has completed construction of the plant and is currently
commissioning it ahead of customer sampling expected during Q3
2015.
Nanoco is also making progress in the commercialisation of its
CFQD(R) quantum dot technology in lighting and has recently
formally established its lighting division as a focus for
activities in this sector. The Company has already received orders
through its relationship with Marl International Limited, a niche
lighting supplier, and continues to work with Osram under a joint
development agreement.
Michael Edelman, Nanoco's Chief Executive Officer, commented:
"We are continuing to make excellent progress with the
commercialisation of our technology in the display industry and are
currently working with 11 display OEM organisations in Asia and the
US. The Dow mass production plant in Cheonan, South Korea, is
currently being commissioned and we look forward to the start of
commercial production from the plant.
"We are continuing to work on the commercialisation of our
technologies in our other target areas, with lighting being the
most advanced to date. The use of Nanoco's CFQD(R) quantum dots in
a range of lighting products has grown to the point that has
justified the formation of a standalone division to accelerate
commercialisation in this area."
For further information, please contact:
Nanoco Tel: +44 (0) 161
603 7900
Michael Edelman, Chief Executive
Officer
Mark Sullivan, Interim Chief
Financial Officer
Canaccord Genuity - Joint Broker Tel: +44 (0) 20
7523 8000
Simon Bridges
Mark Whitmore
Richard Andrews
Liberum - Joint Broker Tel: +44 (0) 20
3100 2000
Neil Patel
Richard Bootle
Steven Tredget
Buchanan Tel: +44 (0) 20
7466 5000
Mark Court / Sophie Cowles
/ Stephanie Watson
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, it has an exclusive
manufacturing and marketing licensing agreement with The Dow
Chemical Company.
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.nanocotechnologies.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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