04.26.18
Nanoco Group plc confirms that it has signed a second agreement with its undisclosed US listed partner, further to the Material Development and Supply Agreement between the two companies announced on Feb. 8, 2018. The terms of the new agreement include additional success-based milestone payments and development-based funding.
Under this expanded agreement, and in parallel with all current commitments to the partner, Nanoco will develop next generation nano-materials for applications in future technologies including advanced electronic devices. This development activity will begin immediately and will be conducted at Nanoco’s Manchester, UK R&D facility.
As previously disclosed, the partner is funding the capital expenditure required to expand the manufacturing capabilities of Nanoco’s existing Runcorn facility in order to supply the partner with commercial volumes of product. This process is already underway, with an agreement reached in March to take over 10,000 sq. ft. of additional space in Runcorn to build a state-of-the-art production facility in order to commence commercial supply in January 2019.
“We are extremely pleased to announce today’s development agreement with our new US listed partner which further demonstrates the significant momentum we are seeing across our business and the potential applications of our technology across multiple end markets,” Michael Edelman, chief executive of Nanoco, said.
Under this expanded agreement, and in parallel with all current commitments to the partner, Nanoco will develop next generation nano-materials for applications in future technologies including advanced electronic devices. This development activity will begin immediately and will be conducted at Nanoco’s Manchester, UK R&D facility.
As previously disclosed, the partner is funding the capital expenditure required to expand the manufacturing capabilities of Nanoco’s existing Runcorn facility in order to supply the partner with commercial volumes of product. This process is already underway, with an agreement reached in March to take over 10,000 sq. ft. of additional space in Runcorn to build a state-of-the-art production facility in order to commence commercial supply in January 2019.
“We are extremely pleased to announce today’s development agreement with our new US listed partner which further demonstrates the significant momentum we are seeing across our business and the potential applications of our technology across multiple end markets,” Michael Edelman, chief executive of Nanoco, said.
