For immediate release 30 December 2014
NANOCO GROUP PLC
("Nanoco" or the "Company")
Signs Manufacturing Contract with Dow Ahead of Mass Production
Nanoco Group plc (AIM: NANO), a world leader in the development and manufacture of cadmium-free quantum dots and other nanomaterials, today announces that it has signed a manufacturing contract with The Dow Chemical Company ("Dow") to set out details of how materials produced by Nanoco's production facility in Runcorn will be supplied to Dow as part of Dow's worldwide licensing agreement with the Company. As previously stated, Dow is expected to begin commercial production of Nanoco quantum dots in Cheonan, South Korea, in the first half of 2015 to provide high volume supply for its display industry customers.
The manufacturing contract includes the pricing and payment terms associated with materials supplied by Nanoco to Dow.
Michael Edelman, Nanoco's Chief Executive Officer, said: "We are very pleased to sign this contract with Dow to formalise the supply of cadmium-free quantum dots from our Runcorn facility to Dow ahead of mass production from Dow's facility in South Korea."
For further information, please contact:
Nanoco |
Tel: +44 (0) 161 603 7900 |
Michael Edelman, Chief Executive Officer Mark Sullivan, Interim Chief Financial Officer |
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Canaccord Genuity - Nomad and Joint Broker |
Tel: +44 (0) 20 7523 8000 |
Simon Bridges |
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Cameron Duncan |
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Liberum - Joint Broker |
Tel: +44 (0) 20 3100 2000 |
Simon Atkinson |
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Richard Bootle |
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Buchanan |
Tel: +44 (0) 20 7466 5000 |
Mark Court / Sophie Cowles / Stephanie Watson |
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Notes for editors:
About Nanoco Group plc
Nanoco is a world leader in the development and production of cadmium-free quantum dots and other nano-materials 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, 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.
