Nanoco Group links with Swiss electronics specialist on new development opportunity
Runcorn-based tech company, Nanoco Group, has has signed a Statement of Work with significant joint development activities (JDA) with STMicroelectronics, an important European electronics customer.
Based in Geneva, ST is a multinational corporation and technology company of French-Italian origin.
Nanoco is a Manchester University spin-out which develops materials used in the manufacture of monitors and TV screens and technologies for medical imaging and the early diagnosis of cancer.
The JDA is a two year programme to optimise the performance of a second generation sensing material to be developed by Nanoco.
The new JDA will include revenue for services that Nanoco will soon be able to offer in the extended Runcorn facility, particularly in device testing and analytical services.
Nanoco has declined to reveal the value of the link up with STMicroelectronics.
If all of the technical milestones in the two years of the JDA are achieved, the next step in the process will be to scale the new material into an industrialised process capable of supporting high volume applications.
The JDA helps to underpin the Nanoco board’s expectations for non-license fee income in fiscal year 2024, which are in line with 2023.
The JDA is also expected to deliver additional sales of test materials during FY24 and FY25.
Nanoco chief executive, Brian Tenner, said: “The group’s significantly improved financial position allows us to proactively invest to accelerate development of new materials and new service capabilities.
“The new 200mm wafer device capability is one such example.
“This expanded range of services has created a compelling offering for ST who will be the first to take advantage of these new capabilities in the future.”
He added: “Further production orders received for first generation sensing materials will be in parallel with this JDA.
“ST’s commitment to developing a second generation material, emphasises Nanoco’s ability to be a robust partner in complex electronics supply chains.”
Nanoco’s share price jumped to 21.43p per share on news of the deal, from an opening price of 18.65p, before settling back to 19.53p by mid-morning.
