Since announcing the termination of the formal sale process in April, Nanoco has reshaped its activities while remaining focused on the commercialisation of its patented nano-material technology. Having defined the scope of the company’s activities, management has reassigned costs to maintain a cash runway to at least the end of calendar year 2022. As part of this programme and in line with the board’s succession planning, CEO Dr Michael Edelman has stepped down. Although our estimates remain under review, we hope to see fresh guidance when the FY20 results are announced in October.
In May 2020 Nanoco signed a five-year framework agreement with STMicroelectronics covering multiple infrared sensing applications. It has also won a development contract for a new technology application in the display sector. Although these development activities may lead to significant future revenue from commercial production at the Runcorn facility, this will not be until end of calendar year 2021 at the earliest.
Source: Edison Flash Note
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.
