Interim Results 2015
Nanoco Group plc (AIM: NANO), a world leader in the development and manufacture of cadmium-free quantum dots and other nanomaterials, is pleased to announce its interim results for the six months ended 31 January 2015.
- Major progress in the commercialisation of Nanoco’s technology in the display industry in partnership with worldwide licensing partner The Dow Chemical Company (“Dow”)
- Dow building the world’s first, large-scale cadmium-free quantum dot manufacturing plant in South Korea using Nanoco’s patented technology with production expected to begin in mid-2015
- LG Electronics signed a partnering agreement with Dow in January 2015 for the supply of Nanoco quantum dots for LG Ultra HD ColourPrime TVs, which are close to launch in the USA
- Considerable technical progress in Nanoco’s other key target markets: LED general lighting, solar and bio-imaging
- Second grant-funded project on the use of cadmium-free quantum dots in the in vivo imaging of cancer began in October 2014 with University College London
- Company continues to explore a move from AIM to a premium listing on the LSE Main Market
- Cash, cash equivalents and deposits of £9.35 million at the half year end (31 July 2014: £12.18 million)
Anthony Clinch, Nanoco’s Chairman, commented:
“We’re delighted by the pace of progress towards the commercialisation of our cadmium-free quantum dot technology in the display market. Our worldwide licensing partner Dow expects to begin production in mid-2015 at the world’s first large-scale production plant for cadmium-free quantum dots. LG Electronics is moving closer to the commercial launch of the LG Ultra HD ColourPrime TV range unveiled earlier this year, which will mark the first consumer electronics products to incorporate Nanoco technology.
“We have made considerable technical progress in our other key target markets of LED general lighting, solar and bio-imaging. Going forwards we intend to put more emphasis on these additional markets, all of which offer major commercial potential.”
Analyst meeting: A meeting for analysts will be held at 10am this morning, 23 March 2015, at the offices of Buchanan, 107 Cheapside, London EC2V 6DN. For details contact Buchanan on 020 7466 5000.
For further information please contact:
Michael Edelman, Chief Executive Officer
Mark Sullivan, Interim Chief Financial Officer
+ 44 (0) 161 603 7900
Canaccord Genuity – Nomad and Joint Broker
+44 (0) 20 7523 8000
Liberum Capital – Joint Broker
+44 (0) 20 3100 2000
Mark Court / Sophie Cowles / Stephanie Watson
+ 44 (0) 20 7466 5000
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 offices in Japan and Korea Its technology is protected worldwide by a large and growing patent estate.
Nanoco began trading on the AIM market of the London Stock Exchange in May 2009 under the ticker symbol NANO. For further information please visit: www.nanocogroup.com.