Nanoco Group PLC - Runcorn, England-based developer and manufacturer of cadmium-free quantum dots and other nanomaterials - Signs new joint development agreement with an ‘important Asian chemical customer’. The two-year programme, which has now started, enhances a pre-existing collaboration between the two companies, which have been working together since June 2021.

Nanoco says the agreement comes after it successfully delivered all technical milestones in the six short development projects previously undertaken for the customer, which focused on delivering a novel second-generation nanomaterial for use in infra-red sensing. The goal of this new deal is to optimise the material for the performance required by a number of global electronics applications, and once delivered, will be followed by a scale-up to industrial production in 2026 and 2027.

Adds that the agreement underpins Nanoco’s expectations for non-licence fee income in financial 2024, and is expected to deliver additional sales of test materials during financial 2024 and 2025.

Current stock price: 18.06 pence

12-month change: down 50%

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