Nanoco Group PLC Material Development and Supply Agreement (2474E)
February 08 2018 - 2:00AM
UK Regulatory
TIDMNANO
RNS Number : 2474E
Nanoco Group PLC
08 February 2018
This announcement contains inside information as defined in EU
Regulation No. 596/2014 and is in accordance with the Company's
obligations under Article 17 of that Regulation.
NANOCO GROUP PLC
("Nanoco" or the "Company")
Material Development and Supply Agreement
New partnership includes infrastructure investment, development,
milestones and commercial supply agreement
Nanoco Group plc (LSE: NANO), a world leader in the development
and manufacture of cadmium-free quantum dots and nanomaterials,
announces that it has signed a Material Development and Supply
Agreement with a large, undisclosed US listed corporation (the
"Partner").
Under this agreement, Nanoco will scale-up and mass produce
novel nano-particles for advanced electronic devices and supply
them from its state-of-the-art production facility in Runcorn, UK.
In preparation for the quantity of materials needed for these
markets, the Partner will fund the capital expenditure required to
expand Nanoco's Runcorn facility. The commercial terms of the
agreement include payments for success based milestones, and
commercial supply of materials, both of which will strengthen
Nanoco's balance sheet. Based on the current timelines, commercial
supply is anticipated to begin early 2019.
Michael Edelman, Chief Executive of Nanoco, said:
"This transaction not only exemplifies the potential of our
technology, but also the recognition that Nanoco can continue to
pursue broad partnerships in diverse markets.
Our deep expertise in the development and mass production of
highly differentiated nanoparticles has enabled us to create
partnerships, and future revenue streams, with partners around the
globe. We are very pleased to announce today's agreement, and we
look forward to updating you on our progress."
For further information, please contact:
Nanoco Group PLC Tel: +44 7788 897 357
Caroline Watson, Investor Relations Manager
Cwatson@nanocotechnologies.com
MHP Communications Tel: +44 (0) 20 3128 8570
Reg Hoare / Andrew Leach / Giles Robinson / Pete Lambie
nanoco@mhpc.com
The person responsible for arranging for the release of this
announcement on behalf of the Company is David Blain, Chief
Financial Officer.
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 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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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