Business
Commercialisation Agreement in Display
Commercialisation Agreement in Display.
About this update from Nanoco Group Plc
[{"type":"text","content":"\n \nRNS Number : 9882E Nanoco Group PLC 22 July 2016 \n\n\n\n\n\nFor immediate release\n\n\n22 July 2016\n\n\n\n\n \n \n \n \nNANOCO GROUP PLC\n(\"Nanoco\" or the \"Company\") \n \nNanoco and Wah Hong Industrial Corporation sign\nCommercialisation Agreement in Display \n \n \nNanoco Group plc (LSE: NANO), a world leader in the development and manufacture of cadmium-free quantum dots and other nanomaterials, and Wah Hong Industrial Corporation (TPEx: 8240, \"Wah Hong\"), a leading Taiwanese manufacturer and supplier of optical films, jointly announce that they have signed a supply and licence agreement in the display sector.\nUnder the terms of the agreement, Nanoco will supply cadmium-free quantum dot resin, manufactured at the Company's plant in Runcorn, UK. Wah Hong will process the resin and then market it to its existing customer base in the display industry.\nThis agreement marks the first to be signed by Nanoco since the Company adopted a non-exclusive strategy for the commercialisation of its technology in the display industry, as announced on 31 March 2016.\nWah Hong, a company quoted on the Taipei Exchange, has a large operational footprint across China, Taiwan and Southeast Asia and is one of the world's largest manufacturers of optical films and sheets for displays. Wah Hong has already received significant interest from its display customers following the pre-marketing of Nanoco cadmium-free quantum dot product.\nThe financial details of the supply and licence agreement are confidential but Nanoco will receive an upfront payment, payment for delivery of quantum dot resin and a royalty on Wah Hong's sales of processed resin. The agreement does not materially affect our expected outcome for the current financial year.\nIn line with Nanoco's strategy, the agreement is non-exclusive. It runs for an initial 7 year period until 31 December 2023, after which it is renewable by agreement.\nC.P. Yeh, Wah Hong Industrial Corporation's President, said: \"We are very excited about signing this agreement with Nanoco because it gives us the opportunity to provide our customers with Nanoco cadmium-free quantum dot product, which is the most advanced material for next generation LCD displays. Display makers in East Asia are increasingly aware of the hazards of cadmium and we beli...