Nanoco Group PLC (LON:NANO) Chief Executive Officer Dr Michael Edelman caught up with DirectorsTalk for an exclusive interview to discuss the progress with their new US partner, their display technology coming to market, cash position and other target markets.
Q1: Michael, can you talk about the progress that’s been made with your new US partner?
A1: We and our large US partner are really pleased with the progress to date, the programme is on track, the new Runcorn production facility will be completed and fully commissioned by this calendar year-end. We will then move into a period of stress-testing the facility before volume production can enter second half of calendar 2019.
Q2: Display finally looks like we should see products containing Nanoco’s technology in the market this calendar year, can you give some more detail around that?
A2: Display has taken longer to materialise, but we are finally seeing the first products heading for the market. The first display products are gaming monitors being manufactured by our Taiwanese partners and we look forward to seeing these products on the shelves for the coming holiday season.
Q3: Now, it’s very encouraging to see that your cash position has improved since your half year, are you comfortable with the funding of the business going forward?
A3: Yes, cash, as you note, has increased by £2 million since we last reported 6 months ago, we’ve worked really hard to keep all costs within the business down and we believe Nanoco Group remains in a strong cash position.
Q4: Can you add or update us on the progress in Nanoco Group’s other target markets?
A4: Lighting has made good progress, we’re focussed on niche lighting applications namely horticultural lighting and more specifically, vertical farming. Additionally, our US customer CareWear has launched its medical device lighting products into the US market focussed on professional sports teams and our life sciences business has made excellent pre-clinical progress in the diagnosis and imaging of pancreatic cancer.
