Nanoco Group - Progress against stated objectives during FY21

During FY21 Nanoco extended its product and customer portfolio of nanomaterials for use in infrared sensing applications to five customers and eight different materials. It also made good progress in its legal action against Samsung for wilful infringement of its IP, with a positive outcome of the claim construction (Markman) hearing. Importantly, the programme restructuring the business around its core competencies of R&D, scale up and production supports a cash runway for nanomaterial development and scale-up activities into calendar H222. We reinstate our FY22 estimates in line with management’s guidance on cash costs.