Edison Investment Research - Nanoco Group (NANO) Nanoco Group - Another major milestone delivered

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Edison Investment Research

Richard Williamson

Nanoco Group - Another major milestone delivered

Following a successful proof of concept, Nanoco recently announced a new joint development agreement (JDA) with its existing European customer, now confirmed as STMicroelectronics. This milestone further validates Nanoco’s smart materials capabilities, building on the first commercial orders for first-generation materials shipped in late 2023 and the expanded partnership with its Asian customer. With an improved financial position, Nanoco has been able to proactively invest in accelerating the development of new materials and services. The non-licence fee income and additional test material sales from the JDA help de-risk our FY24 revenue forecasts. Securing collaborations like this JDA will be key for Nanoco to continue scaling commercial production and delivering on management’s goal of becoming self-financing in CY25.

15/01/2024 1 EN

Underlying

Nanoco Group

Nanoco Group is engaged in the research, development and manufacture of cadmium and heavy-metal-free quantum dots and semiconductor nanoparticles. Co.'s core activities are the generation and development of CFQD® quantum dot products. In the display industry, the use of CFQD® quantum dot products enhances the colour gamut and energy efficiency of liquid crystal display televisions and other displays. The display market includes televisions, monitors, notebooks, tablets and smartphones.

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GB00B01JLR99 London Stock Exchange United Kingdom

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Edison Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

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Analysts

Richard Williamson

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Nanoco Group - Another major milestone delivered

Nanoco Group: 2 directors

Nanoco Group - Board states case for voting against resolutions

Nanoco Group - European partnership not moving forward

Tetragon Financial Group - Termination of coverage

AFT Pharmaceuticals - Softer H1 on one-offs; recovery expected in H2

Argent Industrial - Following an established recipe

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