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Nanoco Group

Contract extension with major partner

Flash note | Technology | 25 Jan 2019

Nanoco's contract extension for work with its US customer fully underpins our FY19 estimates and gives the business a c £3m+ head start entering FY20. Our forecasts are unchanged, but progress with this major customer has shone a bright light on Nanoco's IP and execution credentials. Discussions are now ongoing with a number of parties, which could drive upside to our near-term estimates.

Nanoco Group

Milestone payment: On track with major client

Flash note | Technology | 24 Dec 2018

Nanoco has received the final GBP 1.6m milestone payment from its major US customer. This confirms the company remains on schedule to start volume manufacture of nanomaterials for this client in H1 FY20 and provides substantial support for our FY19 estimates.

Nanoco Group

On track for an inflection in FY20

Flash note | Technology | 13 Dec 2018

Nanoco’s AGM statement flags that good progress is being made in both the Runcorn site build out and developing next-generation materials for the major US client. Guidance for FY19 revenues is re-affirmed and the company remains well placed to deliver an inflection in revenues after that.

Nanoco Group

Building foundations for volume uptake in FY20

Update | Technology | 22 Oct 2018

FY18 results were as expected, with revenues up and losses narrowed despite the slow commercialisation cycle in display. FY19 will be a year of laying foundations to ready the facilities for volume production in nanomaterials, but we expect a doubling of revenues nonetheless. The move to volume production should support a further inflection in FY20.

Nanoco Group

Executive interview – Nanoco Group

Edison TV: | Technology | 19 Oct 2018

In this interview Nanoco's CEO Michael Edelman discusses progress with the company's key US nanomaterials partner as it moves towards larger production volumes, expected for H1 FY20. He talks about the company's IP portfolio and why increased patent-filing activity could signal that the time for quantum dots may now have come. He also discusses the display market and what needs to happen to drive broader adoption of quantum dot televisions. New CFO, Brian Tenner, discusses why he joined the business, guidance for FY19 and what the financial profile of the business might look like once volume shipments commence.

Nanoco Group

Delays but visibility of move to volume production

Update | Technology | 15 Aug 2018

While the pathway to commercial shipments is taking longer than anticipated, we now have better visibility that an inflection is set to happen. The first Nanoco displays are due for public launch this Christmas season. The first low volume shipments of Nano-materials to the company’s tier one US sensor partner are set to start in Q4 CY18. Successful stress testing of the new facility at Runcorn in H1 CY19 should pave the way for volume production, now anticipated for H2 CY19.

Nanoco Group

GBP1.8m milestone payment from major partner

Flash note | Technology | 08 May 2018

Nanoco’s GBP 1.8m milestone payment from its major US partnership confirms the scale up is on track for commercial production to start in January 2019. The company remains on a course to deliver a significant inflection in financial performance, starting in H2.

Nanoco Group

Adding a new dimension in 2D materials

Flash note | Technology | 02 May 2018

Nanoco's launch of a subsidiary, Nanoco 2D Materials, will provide funding and structure for development work in the field of 2D nanoparticles, which the company has been carrying out with graphene pioneer and Nobel Laureate, Prof. Konstantin Novoselov. The commercialisation of such materials is some way off but the potential looks exciting and the development further emphasises the broad applicability of Nanoco's nano-materials technology platform, IP and expertise.

Nanoco Group

Extension of major partnership

Flash note | Technology | 23 Apr 2018

Nanoco's extension of its partnership with a major listed US corporation indicates the relationship could be both significant and long lasting. Visibility remains limited, but with revenue opportunities across three applications, sensors, display and lighting, we expect to see a meaningful inflection in financial performance from here. Nanoco's credentials as a platform technology company are also strengthened.

Nanoco Group

Executive interview - Nanoco Group

Edison TV: | Technology | 20 Apr 2018

Nanoco CEO, Michael Edelman, discusses the company’s agreement with a large, undisclosed US-listed corporation, where Nanoco is being funded by the partner to scale-up and produce commercial volumes of infrared nano-particles for sensor applications. He explains why the company’s IP and expertise in developing and scaling up production were key to winning this business. Moving on to other applications, he discusses the factors which have held up progress in the display market and also the advances Nanoco the company is making in horticultural lighting and healthcare imaging. He rounds up by explaining how the company is now on a much stronger financial footing, with costs substantially reduced and cash due to come in from the US partner and HMRC tax credits.

Nanoco Group

Major US partner to drive significant inflection

Update | Technology | 10 Apr 2018

Nanoco's H1 results reflect the slow commercialisation cycle in display although H2 should improve significantly as the first payments from the company's large, US-listed corporate partner boost revenues and cash flows. While visibility is still limited, the scale of investment and additional capacity being added indicate that the potential from this partnership is significant. Progress in lighting and medical imaging also remind us of the potential of Nanoco's IP and expertise across a range of applications.

Nanoco Group

Rabbit pulled out of the hat

Update | Technology | 08 Feb 2018

Nanoco’s material development and supply agreement with a major US corporation provides firm support to our near term estimates and the company’s balance sheet. The partner’s funding of a major expansion to Nanoco’s Runcorn manufacturing facility also improves the probability of a sharp inflection in revenues in FY19 and FY20 while providing welcome diversification to the company’s medium term opportunity pipeline. Execution risk remains, but we believe that Nanoco’s prospects are looking meaningfully stronger.