Latest news with #Nanoco
Business Mayor
28-04-2025
- Business
- Business Mayor
Tech firm Nanoco unveils joint development agreement with a new Asian customer
Nanoco Group, the Runcorn-based tech business, has signed a 'major' new joint development agreement (JDA) with a new second Asian chemical customer. The Manchester University spin-out said the revenue from the JDA will help it exceed current expectations for non-license fee income in fiscal year 2025 and contribute further revenue to the 2026 financial year. Nanoco develops materials used in the manufacture of monitors and TV screens and technologies for medical imaging and the early diagnosis of cancer. The target of the one-year programme with the new Asian customer is to optimise lead-free nanomaterials to be incorporated into global electronics applications. Once successful, the subsequent stage will involve scale-up to industrial production levels during 2027. Nanoco CEO, Dmitry Shashkov, said: 'This JDA with another Asian chemical company highlights the growing focus on the incorporation of quantum dots into sensors for high volume commercial applications. 'The consensus of market research is that quantum dot-enabled silicon sensors, especially ones which are lead-free, will disrupt the global consumer electronics market, and Nanoco, along with its customers, are at the forefront of this technology, and we also have significant IP protections in this area.' He added: 'Discussions are ongoing with other potential new customers around further potential projects and we look forward to updating shareholders further in due course.' In August last year the company announced its revenues for the current financial year to July 31, 2025, would be slashed by 25% after a key European customer pulled out of a commercial partnership involving infrared sensing applications in electronic devices. The group had announced in the previous month that it no longer expected to receive a further production order for its validated first generation sensing products from the customer. The European customer also served notice on Nanoco's two-year joint development agreement for second generation sensing materials that was previously announced in January 2024. Nanoco said it had achieved all of the required development milestones and had received positive feedback on the performance of the new material. It said it understood that the European customer's decision had been based on its own strategic priorities and not as a result of concerns with the performance of Nanoco's materials. The group said it would be negotiating end of project terms with the customer. In its interim results announcement earlier this month, Nanoco revealed that an additional £311,000 revenue will be recognised in the second half of financial year 2025 following the completion of the settlement agreement with the European electronics customer. Nanoco is also currently working with an existing Asian customer on a joint development agreement for second generation sensing materials, with the potential for production orders in the medium term, subject to end user adoption of the technology.
Times
25-04-2025
- Business
- Times
Small UK firm Nanoco sues LG for patent infringement
A small Runcorn-based company that got $150 million out of Samsung is suing another South Korean electronics giant, this time LG, for using its technology without permission. Nanoco, a tiddler listed on the London Stock Exchange worth only £17 million, has filed a lawsuit in Texas, alleging that LG has been using Nanoco's patented cadmium-free quantum dot technology in its televisions. It made the same claims against Samsung, which ultimately ended up paying $150 million in 2023 as part of a 'no fault' settlement agreement. 'Nanoco alleges that the defendants (LG) have wilfully infringed the company's patents and seeks a permanent injunction from further acts of infringement and monetary damages,' Nanoco said in a statement to its shareholders. At this stage Nanoco has not set
Yahoo
25-04-2025
- Business
- Yahoo
UK firm Nanoco sues LG over claims of TV technology patent infringement
A UK-based tech firm has filed a lawsuit in the US against electronics giant LG, claiming the South Korean firm wilfully infringed patents on TV technology. Runcorn-based Nanoco said it filed a patent infringement against LG in Texas, claiming the firm infringed patents it holds around quantum dot technology. Quantum dots are a nanomaterial, 1,000 times smaller than a human hair, which can significantly enhance the colour range visible to the human eye when light is shone through them, and as a result have become a key technology in modern television production. Quantum dot production can include a toxic heavy metal called cadmium, but Nanoco has pioneered the use of cadmium-free quantum dots, developing and patenting a successful method for mass-producing them. Nanoco says its patents were validated during a previous lawsuit against another tech giant, Samsung, during which the US Patent Trials and Appeals Board ruled in its favour, with the claims being settled in 2023 for £150 million. In its filing against LG, Nanoco said the firm has wilfully infringed its patents and was seeking a permanent injunction as well as monetary damages. At this stage, a monetary value has not been attributed to the claim. Dr Jalal Bagherli, Nanoco's chairman, said: 'Nanoco proved the value and validity of its IP as part of the Samsung litigation process. 'At that time, we reiterated our intent to aggressively pursue other potential infringers of our IP to ensure a fair outcome for shareholders of Nanoco. 'While there is potential for damages, litigation itself carries considerable inherent risk and the Board must weigh the opportunity versus the cost. 'In this instance, we believe the potential return to be worth the costs of commencing litigation. 'Nanoco continues to remain open to finding a mutually acceptable commercial solution, but the action is appropriate to take at this time in the best interest of the Company and its shareholders, to defend one of our core assets.' LG has been contacted for comment.
