OREANDA-NEWS. Nanoco Group plc, a world leader in the development and manufacture of cadmium-free quantum dots and other nanomaterials, is pleased to announce its preliminary results for the year ended 31 July 2016.

Highlights

  • Transformed business model which should accelerate the commercialisation of our technology
  • Sample requests have increased over the past few months for Dow's TREVISTA™ cadmium-free quantum dots and are being fulfilled exclusively from Dow's dedicated Cheonan plant
  • Merck licence agreement signed in July 2016
  • Well advanced in transferring our technology to Merck and we expect them to be running initial manufacturing trials in the near future
  • Wah Hong licence agreement signed  in July 2016; sampling to customers is under way
  • Significant increase in manufacturing capacity following  process improvements and efficiencies developed during the year,  together with moving to shift work post year end
  • IP portfolio has grown to 467 patents and patents pending at year end
  • Future opportunities if life science continues to emerge
  • Revenue for the year was ?0.47 million (2015: ?2.03 million) and the loss after tax was ?10.61 million (2015: ?8.97 million).  Billings in July 2016 which are deferred into future years amounted to ?1.18 million.
  • Cash and cash on deposit at 31 July 2016 was ?14.51 million (2015: ?24.31 million)

Dr Christopher Richards, Nanoco's Chairman, said: "I am encouraged that the significant progress made during the year, especially in new licensing agreements and manufacturing improvements, have put the Group in a strong position for rapid revenue growth.  Combined with our solid cash position, we look forward to the future with confidence."

Nanoco is a world leader in the development and production of cadmium-free quantum dots and other nanomaterials for use in multiple applications including LCD displays, lighting, solar cells and bio-imaging. In the display market, Nanoco has a non-exclusive manufacturing and marketing licensing agreements with The Dow Chemical Company, Merck KGaA and Taiwan's Wah Hong Industrial Corporation. Nanoco also has a strategy of direct sales in display and in its other target markets, including lighting.