Nanoco completes first commercial production order for infrared sensing materials
Nanoco Group plc (LSE: NANO), a global leader in the development and manufacture of cadmium-free quantum dots and nanomaterials, has achieved a significant milestone by completing its first commercial production order. The company has successfully shipped two different first-generation materials for infra-red sensing applications in electronic devices, aligning with the Board’s expectations for commercial production prior to the end of 2023.
This development supports the FY24 revenue guidance provided in the Group’s Preliminary Results published on 17 October 2023. Nanoco’s progression from research and development to becoming an electronics materials production company is a critical step in the company’s evolution. The shipments are in line with the Group’s strategy for low volume applications during FY24 and FY25.
In addition to fulfilling this order, Nanoco announced on 7 November 2023, a two-year development agreement with a key customer for new infra-red sensing materials. These second-generation materials are expected to perform at even higher levels, securing Nanoco’s product development pipeline for the coming years. The funds retained from the Samsung litigation have enabled Nanoco to enter global electronics supply chains robustly and to accelerate the development of cutting-edge materials.
Nanoco Group plc completes first commercial production order for infrared sensing materials
CEO Brian Tenner commented on the achievement, “Today’s announcement records a critical milestone in Nanoco’s evolution from an R&D first mover to an electronics materials production company. With our customers’ global reach and ambitions for this technology, we expect initial low volume demand to increase gradually due to more end users and a more diverse range of applications.”
He further elaborated on the company’s goals and future, “We have now delivered all of the goals set for CY23, winning the IP litigation and entering commercial production. Through careful use of the retained funds from the IP litigation, we will continue our leading-edge R&D, our efforts to deliver further value from our validated IP portfolio, and continued commercial production of high-quality nanomaterials from our Runcorn facility.”
Nanoco’s strategic steps, including this commercial production achievement and the development of new materials, signal a promising future for the company in the electronics materials sector.