Nanoco Group - Another major milestone delivered

Following a successful proof of concept, Nanoco recently announced a new joint development agreement (JDA) with its existing European customer, now confirmed as STMicroelectronics. This milestone further validates Nanoco’s smart materials capabilities, building on the first commercial orders for first-generation materials shipped in late 2023 and the expanded partnership with its Asian customer. With an improved financial position, Nanoco has been able to proactively invest in accelerating the development of new materials and services. The non-licence fee income and additional test material sales from the JDA help de-risk our FY24 revenue forecasts. Securing collaborations like this JDA will be key for Nanoco to continue scaling commercial production and delivering on management’s goal of becoming self-financing in CY25.