Preliminary Results 2014
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 preliminary results for the year ended 31 July 2014.
- Excellent progress in the commercialisation of Nanoco’s technology in the display industry in partnership with worldwide licensing partner The Dow Chemical Company (“Dow”)
- Dow to begin construction of the world’s first, large-scale cadmium-free manufacturing plant in South Korea using Nanoco’s patented technology and with production to begin in H1 2015
- Dow to market Nanoco’s technology using the brand TREVISTA™ Quantum Dots
- Considerable technical progress in other applications including solar, where the efficiency of our solar ink is approaching our target for producing a low cost, printable solar panel
- Signed further follow-on joint development agreement with Osram in October 2014 to advance CFQD® quantum dots in LED general lighting
- Strengthened the Nanoco Board with the appointment of Keith Wiggins as Chief Operating Officer and Robin Williams as a Non-executive Director
- Continuing to explore the move from AIM to a Premium Listing on the main market
- Cash, cash equivalents and deposits of £12.18 million at the year-end (31 January 2014: £14.50 million)
Commenting on the results, Anthony Clinch, Nanoco’s Chairman, said:
“Dow’s recent announcement that it would begin construction of the world’s first large-scale cadmium-free quantum dot manufacturing plant using our technology marked a major milestone in the commercialisation of our quantum dots, which have the compelling competitive advantage of being cadmium-free. The commercialisation of our technology in the display market remains our primary focus but we also continue to make significant progress in all applications.
“We look forward with confidence to the year ahead, during which time we expect to announce further material progress.”