UK tech pioneer Nanoco Group swung to a first-half operating profit after receiving its first-ever commercial production orders.
The University of Manchester spinoff scored a £2.4million operating profit in the six months ending January, compared to a £2.1million loss for the equivalent period the previous year.
In November, the Runcorn-based company fulfilled orders on two first-generation materials for use in infra-red sensing applications in electronic devices, such as cameras and imagers.
Nanoco also signed deals with STMicroelectronics and an Asian chemicals business for work on ‘higher-performing’ second-generation materials.
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.
