Business
Material Development and Supply Agreement
Material Development and Supply Agreement.
About this update from Nanoco Group Plc
[{"type":"text","content":"\n \nRNS Number : 2474E Nanoco Group PLC 08 February 2018 \n\nThis announcement contains inside information as defined in EU Regulation No. 596/2014 and is in accordance with the Company's obligations under Article 17 of that Regulation.\n \n \nNANOCO GROUP PLC\n(\"Nanoco\" or the \"Company\")\n \nMaterial Development and Supply Agreement\n \nNew partnership includes infrastructure investment, development, milestones and commercial supply agreement\n \nNanoco Group plc (LSE: NANO), a world leader in the development and manufacture of cadmium-free quantum dots and nanomaterials, announces that it has signed a Material Development and Supply Agreement with a large, undisclosed US listed corporation (the \"Partner\"). \n \nUnder this agreement, Nanoco will scale-up and mass produce novel nano-particles for advanced electronic devices and supply them from its state-of-the-art production facility in Runcorn, UK. In preparation for the quantity of materials needed for these markets, the Partner will fund the capital expenditure required to expand Nanoco's Runcorn facility. The commercial terms of the agreement include payments for success based milestones, and commercial supply of materials, both of which will strengthen Nanoco's balance sheet. Based on the current timelines, commercial supply is anticipated to begin early 2019. \n \nMichael Edelman, Chief Executive of Nanoco, said:\n \n\"This transaction not only exemplifies the potential of our technology, but also the recognition that Nanoco can continue to pursue broad partnerships in diverse markets.\n \nOur deep expertise in the development and mass production of highly differentiated nanoparticles has enabled us to create partnerships, and future revenue streams, with partners around the globe. We are very pleased to announce today's agreement, and we look forward to updating you on our progress.\"\n \nFor further information, please contact:\n \nNanoco Group PLC &n...