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`RNS Number : 0608P
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`Nanoco Group PLC
`27 September 2013
`
`For immediate release
`
`27 September 2013
`
`NANOCO GROUP PLC
`("Nanoco" or the "Company")
`
`Corporate Update
`
`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 the following corporate update.
`
`Nanoco has completed the planned expansion of its cadmium-free quantum dot
`production facility in Runcorn with the installation and commissioning of two
`further Semi-Tech lines at a planned cost of approximately £1.25 million.
`
`These Semi—Tech lines will be used to fulfil orders for large quantities of sample
`materials to meet increasing demand for pre-production quantum dots from
`customers and potential customers across the Company's target markets.
`
`Nanoco also announces that the terms of its global licensing agreement with
`The Dow Chemical Company ("Dow") have been amended to accelerate the
`commercialisation of Nanoco‘s cadmium-free quantum dot technology in the
`display market.
`
`Under the new terms, Dow continues to hold exclusive worldwide rights for the
`sale, marketing and manufacture of Nanoco‘s cadmium-free quantum dots for
`use in electronic displays.
`
`Changes in the new agreement include the waiving of 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 to reflect the changes to the agreement.
`The adjusted royalties continue to acknowledge the proprietary value of
`Nanoco’s
`technology. Financial details and other specifics are not being
`disclosed. The agreement does not include specifics about the anticipated price
`and volume of quantum dots as these are a function of commercial negotiations
`with customers.
`
`to accelerate
`resources
`committed additional
`Dow and Nanoco have
`commercialisation and full production under
`the licensing agreement
`is
`expected to begin in the first half of 2014.
`
`Nanoco continues to make progress in its other core target markets of general
`lighting and solar energy. Notably,
`the Company's photovoltaic ink is now
`achieving an energy conversion efficiency of between 12 per cent and 13 per
`cent.
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`Michael EdeIman, Nanoco's Chief Executive Officer, commented: “We have
`been delighted by the progress made by Dow. The amendments to the
`agreement with Dow better capitalise on our respective strengths and reinforce
`our collective commitment
`to commercialise this technology as quickly as
`possible to meet future market demand.
`
`"We have also continued to make encouraging progress across our business,
`including a doubling of capacity at Runcorn to meet increasing demand for pre-
`production samples from display and other customers."
`
`For further information:
`
`Nanoco
`Michael Edelman, Chief Executive Officer
`Colin White, Chief Financial Officer
`
`Canaccord Genuity - Nomad and Joint Broker
`Simon Bridges
`Cameron Duncan
`
`Liberum Capital - Joint Broker
`Simon Atkinson
`Richard Bootle
`
`Buchanan
`Mark Court / Fiona Henson / Sophie Cowles
`
`Notes for editors:
`
`About Nanoco Group plc
`
`+ 44 (O) 161 603 7900
`
`+44 (0) 20 7523 8000
`
`+44 (0) 20 3100 2000
`
`+ 44 (0) 20 7466 5000
`
`Nanoco is a world leader in the development and production of cadmium-free
`quantum dots for use in multiple applications including LCD displays,
`lighting
`and solar cells.
`In the display market,
`it has an exclusive manufacturing and
`marketing licensing agreement with The Dow Chemical Company.
`
`It has
`Nanoco was founded in 2001 and is headquartered in Manchester, UK.
`production facilities in Runcorn, UK, and business development offices in the
`USA, Japan, Korea and Taiwan. 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 .
`
`This information is provided by RNS
`The company news service from the London Stock Exchange
`
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