clearsudden
10 years ago
3 Things to Note About Nanoco
http://www.nanalyze.com/2013/10/3-things-to-note-about-nanoco/
October 25, 2013 By Nanalyze Leave a Comment
Nanoco_Logo
In a previous article published in July, we highlighted Nanoco (LON:NANO), a pure-play publicly traded company for investors looking for exposure to the quantum dot story. Since our last article, Nanoco has made several significant announcements and released their preliminary results just several weeks ago.
Mid-Year Revenue Analysis
Revenue for the first 6 months of the year increased by 33% to $6.3 million USD compared to the same period in 2012. Included within this revenue was $1 million USD from Dow Chemical earned under the license agreement signed in January 2013. A breakdown of Nanoco’s 2013 revenues so far this year can be seen below in British pounds:
Nanoco_Revenues
Nanoco_Revenues2
Included within the “rendering of services” revenue category is revenue from two material customers amounting to £1,573,000. Included within “royalties and licences” is revenue from two material customers amounting to £1,702,000.
Increased Production Capacity
Nanoco has completed the expansion of its quantum dot production facility with the installation of two Semi-Tech lines at a planned cost of approximately $2 million USD. The company also announced that the terms of its global licensing agreement with DOW have been amended to waive the requirement for Nanoco to contribute capital to the production plant Dow is preparing to build in Asia. In return, the royalty rate that Nanoco would receive from Dow’s sale of quantum dots has been reduced.
Recent Fund Raising
As of the end of 2012 Nanoco had around $16 million USD cash available. In the preliminary results issued on October 14, management stated that based on forecasts made up to 31 December 2014 the company would not need to raise equity finance. These forecasts assumed that Dow received a customer commitment, commissioned its production facility and would be able to start shipping CFQD material in the first half of 2014. Management stated that in the event that there were delays in a customer commitment or in the commissioning of Dow’s new production facility or no customer commitment was achieved, the Group would either find cost or capital savings or would need to raise equity finance. Just a day after these statements were released along with the preliminary results, Nanoco announced the closing of a $16 million share placement. Based on the prior statements made, it could be assumed that there have been delays in Dow securing a customer commitment and/or delays in commissioning the new production facility.
On the contrary, in a October 14th article published by Investor’s Chronicle, Nanoco’s chief executive, Michael Edelman, is quoted as saying Nanoco expects their first commercial contract – probably with the big Korean TV manufacturers – “soon”. In this same article Liberum Capital expects Nanoco to achieve a $5.6 million pre-tax profit in 2015. Liberium also expects LED lighting projects, high-tech solar film and cancer imaging are also likely to make big contributions further down the line. Nanoco has a joint development agreement with Osram, one of the world’s largest lighting companies, and an agreement with Tokyo Electron for the on-going development of a printable, nanomaterial-based solar film. Nanoco recently announced achieving a solar cell efficiency of 12-13% nearing the 15% mark which is deemed commercially viable. Nanoco is stated by Investor’s Chronicle to be currently a “speculative buy”.
clearsudden
11 years ago
Dow deal helps drive Nanoco revenues by 34%
MANCHESTER-based nanotechnology firm Nanoco saw losses widen last year but it is confident about future prospects due to a major commercial deal it set up in January.
The business makes quantum dots - tiny fluorescent particles of semiconductor material which have the ability to emit light. They are in demand by the makers of electronic goods because they consume less power than existing systems.
In January it agreed a deal with US conglomerate, the Dow Chemical Company, which gave it exclusive worldwide rights for the sale, marketing and manufacture of Nanoco's quantum dots for use in electronic displays.
Dow is now setting up its own factory but Nanoco, which takes a royalty from the deal, has already earned more than £600,000 which contributed to stronger sales in the year to July - £3.9m, up from £2.9m. Pre-tax losses were higher at £5m, from £4.3m due to the cost of completing previously agreed quantum dot orders.
Chairman Anthony Clinch said: "Our partnership with Dow for the mass manufacture of Nanoco quantum dots to supply the display market is proceeding well and continues to be a major focus for the business. Additionally, the company's development agreements with Osram and Tokyo Electron are progressing well.
"We look forward to building on a year of solid progress in the commercialisation of our technology and view the future with confidence."
During the year the company added 30 staff and continued to work on other uses for its technology. In October 2012 it signed a joint development agreement with Osram, one of the world's largest lighting companies, and in November it agreed to continue working with Tokyo Electron on the development of a printable, nanomaterial-based solar film. It is also working with the University College London on the imaging of lymph node cancer.
clearsudden
11 years ago
Nanoco awaits call from Korea
Nanoco (NANO) is closer to realising significant income from its semiconductor nanoparticles - so-called 'quantum dots'. After signing a licensing deal with Dow Chemical in January, the Americans have said commercial production will begin in 2014's first half. Nanoco's chief executive, Michael Edelman, expects the first commercial contract - probably with the big Korean TV manufacturers - "soon". That could open the floodgates and put Nanoco on the map.
Indeed, about 15m large LCD televisions are sold every year, more than half by Korea's Samsung and LG. Each 60-inch TV will use one gramme of quantum dots, which will vastly improve its colours - there will be similar results for smartphones, tablets and computer screens, too. Revenue has already risen sharply after Dow paid Nanoco $1m (£0.63m) and various milestone payments were triggered in the Far East. But costs have, too, and £661,000 spent hiring another 16 mostly technical staff increased group losses.
But this investment should pay off. Liberum Capital expects an adjusted pre-tax loss of £7.6m in 2014, giving an adjusted loss per share of 3.1p (2013: £4.2m loss/1.7p loss per share). But in 2015, following a full-year of production, the broker expects a £3.5m pre-tax profit and EPS of 1.5p, rising to 13.9p the year after and 35.5p in 2017. LED lighting projects, high-tech solar film and cancer imaging are also likely to make big contributions further down the line.
clearsudden
11 years ago
Smithers Apex Launches New Quantum Dots Forum Alongside Phosphor Global Summit 2014
March 26th at the Paradise Point Hotel in San Diego, California
Quantum Dots Forum 2014
Phosphor Global Summit 2014
October 09, 2013 01:48 PM Eastern Daylight Time
PORTLAND, Maine--(EON: Enhanced Online News)--Smithers Apex is pleased to announce the launch of an inaugural half day event, the Quantum Dots Forum. Taking place March 26, 2014 at the Paradise Point Hotel in San Diego, California, the Quantum Dots Forum will precede the 12th annual edition of the Phosphor Global Summit 2014.
“If you consider yourself a part of the quantum dots community, you can’t miss this opportunity to brainstorm with technologists, researchers, business development executives, and entrepreneurs”
The Quantum Dots Forum will be chaired by Seth Coe-Sullivan, Co-founder and Chief Technology Officer, QD VISION, INC. “If you consider yourself a part of the quantum dots community, you can’t miss this opportunity to brainstorm with technologists, researchers, business development executives, and entrepreneurs,” said Coe-Sullivan, who is also a member of the Phosphor Global Summit 2014 advisory board.
“The event is focused on the node between research and commercialization, which is where the quantum dots industry is poised today. On one hand we have over a million quantum dots televisions in the market today, representing more display area than the OLED industry has shipped cumulatively to date. However, we also have massive unanswered science and technology questions that remain unaddressed or unanswered. At the Quantum Dots Forum on March 26, 2014 we will address the EH&S questions around quantum dots head-on with a broad stakeholder panel.”
The half day event will feature speakers from Pacific Light Technologies, Nanosys, and Canaccord Genuity. Joining them will be NanoPhotonica, the University Of Washington, B&C Consortia Management, L.L.C, EPA, Nanoco Technologies Ltd., and Wilson Center. Presentations by these organizations include Doped Quantum Dot Phosphors, Quantum Dot Light Emitting Diodes for Display Applications, Making the Quantum Leap: How Quantum Dots can Revolutionize the Display Industry and Possibly Obsolete OLEDs, and more.
Register by December 13, 2013 to get Super Early Bird Pricing and save $200 off the conference fee. For more information about the Quantum Dots Forum or to register, visit www.quantumdotsforum.com. Limited sponsorship and exhibition opportunities are still available.
About Smithers Apex
Smithers Apex, formerly known as IntertechPira, is a global business that provides events, market research, publications and strategic and technical consulting to an expanding list of niche, emerging and high growth industries, including home and personal care; lighting, imaging and displays; plastic electronics and alternative energy. For more information about Smithers Apex, please visit www.smithersapex.com.
Contacts
Smithers Apex
Stephanie Whitman, +1-207-781-9616
swhitman@smithers.com
clearsudden
11 years ago
University innovation takes centre stage at Conservative Party conference
01 Oct 2013
The University of Manchester has set up home in the Innovation Zone at the Conservative Party Conference being held at Manchester Central this week.
SpiNNaker, led by Prof Steve Furber, is one of the exhibits at the conference
The University has four exhibits within the Innovation Zone, which have already been visited by Prime Minister David Cameron, Foreign Secretary William Hague and Culture Secretary Jeremy Hunt, as well as hundreds of conference delegates.
Unsurprisingly, graphene features prominently in the exhibition and visitors to the stand can even get to make some of the wonder material using scotch tape and view it under a microscope. Delegates can also learn about the University’s National Graphene Institute (NGI), which will be the world’s leading centre of graphene research and commercialisation. The NGI will uniquely offer a collaborative research environment where industry and science can work side by side on developing new and exciting graphene applications. Set to open in early 2015, the £61m Institute is funded by the Engineering and Physical Sciences Research Council (EPSRC) and the European Regional Development Fund (ERDF).
Also exhibiting within the conference’s Innovation Zone is SpiNNaker, a massively parallel, low power, supercomputer currently being built by a team in the University’s School of Computer Science. It is designed to model very large, biologically realistic, spiking neural networks in real time. The machine is built to mimic the brain's biological structure and behaviour. With over one million cores, the machine will be capable of simulating up to one billion neurons, or around 1% of the human brain.
iMagiMat, also known as ‘the magic carpet’, is an intelligent mat made up of plastic optical fibres, laid on the underlay of a carpet. Conference-goers can see how the optical fibres can bend when they tread on it and map in real-time their walking patterns. iMagiMat maps 2D images by using light propagating in fibres under the surface of the smart carpet. Compact electronics at the edges measure and relay sensor signals to a computer. The signals are analysed to show the footprint image and identify gradual changes in walking, or a sudden incident such as a trip or fall, so a potential use for the carpet could be in nursing and care homes.
The final exhibit in the Innovation Zone is from University spin-out company, Nanoco. Nanoco Technologies Ltd designs, develops and manufactures quantum dots, solar inks and other nanomaterials for major end-use markets. The company is headquartered in Manchester, where its R&D activities are based and where it has built on a world-class core technology protected by a growing intellectual property estate.
Ends
Notes for editors
For further information contact:
Aeron Haworth
Media Relations
Faculty of Engineering and Physical Sciences
The University of Manchester
Tel: 0161 275 8387
Email: aeron.haworth@manchester.ac.uk
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clearsudden
11 years ago
Nanoco Group PLC Given “Buy” Rating at Canaccord Genuity (NANO)
September 30th, 2013 - 0 comments - Filed Under - by Micah Reynolds
Nanoco Group PLC logoNanoco Group PLC (LON:NANO)‘s stock had its “buy” rating restated by investment analysts at Canaccord Genuity in a note issued to investors on Friday, StockRatingsNetwork.com reports. They currently have a GBX 275 ($4.44) price objective on the stock. Canaccord Genuity’s price objective indicates a potential upside of 65.57% from the company’s current price.
NANO has been the subject of a number of other recent research reports. Analysts at Liberum Capital reiterated a “buy” rating on shares of Nanoco Group PLC (LON:NANO) in a research note to investors on Friday.
Nanoco Group PLC (LON:NANO) traded up 0.15% on Friday, hitting GBX 169.25. The stock had a trading volume of 386,931 shares. Nanoco Group PLC has a one year low of GBX 55.48 and a one year high of GBX 199.275. The stock’s 50-day moving average is GBX 170.9 and its 200-day moving average is GBX 158.4.
Nanoco Group PLC designs, develops and manufactures quantum dots, solar inks and other nanomaterials in commercial quantities for major end-use markets.
clearsudden
11 years ago
Reading between Nanoco’s dots
Re-jigging its vital commercial tie-up with Dow Chemical (DOW:NYSE) doesn’t immediately sound promising for Nanoco (NANO:AIM).
The cadmium-free quantum dots (QD) developer is taking a lower royalty rate from future shipments. In return, Nanoco doesn’t have to pay its £10 million share to build a new production plant. That may not be a bad idea for many businesses, but does it really suit a new technology developer that’s supposed to see a big, bright future?
The market seems to, at least in part, share my concerns as the shares off nearly 4% to 172p, although the fall needs to be drawn against a 30%-odd three month surge.
NANOCO GROUP - Comparison Line Chart (Rebased to first)
The Dow deal is likely to play a fundamental roll in transforming Nanoco into a profitable company, probably in 2015.
Shares explained in March the importance of the displays market to make that break into the black. But perhaps my initial reaction assumes too much?
Analysts at Liberum Capital make a fair point that the renegotiation slices a bit more risk off the execution profile, ergo the investment case too. ‘When ramping new technologies there are always unknowns such as the exact timing of customer adoption and pricing,’ point out Liberum’s Janardan Menon and Eoin Lambe.
‘Dow and Nanoco have been working together closely for nine months with increased resources and the amended agreement irons out any potential issues.’ That’s compelling reasoning for a company that’s burning through £5.5 million of cash on an annualised basis, although it does have £12.5 million in the bank.
Let’s also remember that Nanoco’s cadmium-free QD technology has other market applications too, particularly in solar and LEDs, two fast emerging markets. ‘As time progresses the risks surrounding Nanoco’s ramp are reducing,’ add Liberum’s Menon and Lambe. ‘We continue to believe Nanoco has a competitive advantage (only cadmium free QDs) and it will ramp with multiple tier one customers over the next 18 months.’
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