Nanoco Group PLC

Interim results: six months ended 31 January 2013

Published on 21/3/2013

HIGHLIGHTS

  • The worldwide licensing agreement signed with The Dow Chemical Company (“Dow”) for exclusive rights to manufacture and market Nanoco cadmium-free quantum dots for the display industry
  • Follow-on joint development agreement signed with Osram to finalise the design of an LED using Nanoco cadmium-free quantum dots in lighting
  • Follow-on agreement signed with Tokyo Electron for the next phase of development of a nanomaterial-based solar film
  • Production scale-up continued with plans to double Semi-Tech capacity at Runcorn and Dow to build a plant in Asia
  • Cash, cash equivalents and deposits as at 31 January 2013 of £12.5 million (31 July 2012: £15.5 million)

Commenting on the results, Dr Peter Rowley, Nanoco’s Chairman, said:

“Our worldwide licensing agreement with The Dow Chemical Company is transformational for Nanoco. It represents a major endorsement of Nanoco’s technology, scalability and market potential, and addresses the manufacture of the much larger quantities of cadmium-free quantum dots that we now expect to be required by the LCD display industry. Full commercial production under this agreement is expected to begin in 2014.

“We continue to make good progress across our business and look forward to the future with confidence.”

For further information please contact:

Nanoco

+ 44 (0) 161 603 7900
Michael Edelman, Chief Executive Officer
Colin White, Chief Financial Officer

Bank of America Merrill Lynch – Joint Broker
+ 44 (0) 20 7996 2490
Matthew Blawat

Canaccord Genuity – Nomad and Joint Broker
+44 (0) 20 7523 8000
Simon Bridges
Cameron Duncan

Buchanan

+ 44 (0) 20 7466 5000
Mark Court / Fiona Henson / Sophie Cowles