Nanoco has signed an extension to its development project with a major European customer, under which it is working on a range of materials for a number of sensing applications, which could potentially lead to volume production in calendar H222 (FY23). Importantly, securing this contract gives management the confidence and cash to retain its nanomaterial development and production capability rather than cutting back to focus on the litigation case against Samsung.
Development potentially leads to volume production
In May 2020, Nanoco signed a framework agreement with the major European customer, which we have previously inferred is STMicroelectronics (ST). The first phase of the project, developing a new generation of nanomaterials for potential use in infra-red sensing applications, completed successfully in H121.
Nanoco Group PLC (LON:NANO) leads the world in the research, development and large-scale manufacture of heavy metal-free nanomaterials for use in displays, lighting, vertical farming, solar energy and bio-imaging.
