Nanoco Group confident of a positive outcome in Samsung litigation

Nanoco Group plc (LON:NANO), a world leader in the development and manufacture of cadmium-free quantum dots and other specific nanomaterials emanating from our technology platform, will hold its Annual General Meeting later this morning in a virtual format due to the restrictions caused by the Coronavirus pandemic. Details of the arrangements were included in the Notice of Meeting issued on 17 November 2020.

Dr Christopher Richards, Nanoco’s Chairman, will make the following statement in respect of the first four months of the financial year ending 31 July 2021.

Operational and trading update

We continue to deliver R&D services under a number of development programmes with different customers in the sensing and display markets, the most significant of which is the work with ST Microelectronics N.V. (‘ST Micro’). Good progress has been made on this project during the Period and we are now negotiating its potential next phase.

On 25 November 2020, we also announced that we had successfully secured a project grant from Innovate UK, the UK’s innovation agency, to develop a heavy metal-free quantum dot testing kit for the accurate and rapid visual detection of SARSCoV-2 (“Covid-19”). This funding creates a potential third opportunity for future revenue, on top of the Group’s activities in Sensing and Display, whilst maintaining Nanoco’s cash runway.

Financial performance in the Period has been in line with the Board’s expectations. The Board remains focussed on new commercial revenues to sustain the Group’s organic activities in H2 FY21 and beyond, with contingency plans in place if needed.

Samsung Litigation Update

The litigation against Samsung is proceeding in line with expectations. A trial date has been set for October 2021, but this may experience delay due to the Covid-19 pandemic. As expected, Samsung have submitted requests for Inter Partes Reviews (‘IPR’s) of the patents relevant to the case with the US Patent Office and these are being managed as a normal part of the litigation process. The Board’s confidence remains high that we will obtain a positive outcome.

Click to view all articles for the EPIC:
Or click to view the full company profile:
Facebook
Twitter
LinkedIn
Nanoco Group PLC

More articles like this

Nanoco Group PLC

Nanoco to return up to £30m to shareholders

Nanoco is to use £33m from the proceeds from its successful litigation against Samsung to buy up its own shares. Nanoco’s board is to conduct a Tender Offer to return up to £30m to shareholders and

Nanoco Group PLC

The fascinating world of Quantum Dots

Quantum dots are nanoscale semiconductor particles that have unique optical and electronic properties due to their quantum mechanical characteristics. The size and shape of these quantum dots can be finely tuned to control their color and optical properties, making

Nanoco Group PLC

Understanding Quantum Dots: Excitement in the patent world

In the world of science, there exists a realm so tiny, yet so powerful, known as “Quantum dots.” It challenges our conventional understanding of materials and light. These minuscule structures exhibit properties distinct from those observed

Nanoco Group PLC

Revolutionising solar energy storage with Quantum Dots

Quantum dots have the potential to revolutionize solar energy storage systems and green hydrogen production. Their unique properties enable them to absorb a wider range of light wavelengths, increasing solar cell efficiency and paving the way

Nanoco Group PLC

Nanoco receives final litigation proceeds from Samsung

Nanoco Group plc (LON:NANO), a world leader in the development and manufacture of cadmium-free quantum dots and other nanomaterials emanating from its technology platform, has announced that it has received the second tranche of litigation proceeds from Samsung