Nanoco Group PLC Milestone Achieved (3583L)
December 24 2018 - 1:00AM
UK Regulatory
TIDMNANO
RNS Number : 3583L
Nanoco Group PLC
24 December 2018
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 GBP4.2m with this third
milestone valued at GBP1.6m.
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."
- Ends -
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(R) 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.
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END
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