INNO Research Industry News, recently Nanoco, a developer of cadmium-free quantum dots and other nanomaterials, has signed a quantum dot material supply agreement with STMicroelectronics.
This is a framework agreement that includes the development and commercial supply of various nanomaterials for infrared sensing in the next five years. Both companies are supplying products for important U.S. customers, and it is clear that this agreement further expands the basis of cooperation between the two companies in this regard.
Nanoco has received many development orders for new materials and a small amount of existing materials. The first stage of this part of the development work will begin in April and is expected to continue until December 2020.
As announced in the April 30, 2020 interim results, the new purchase order is very critical for Nanoco, it almost affects our Extended Operational Cash Runway in the second quarter of 2021, any further Purchase orders can improve this situation. According to the above agreement, if Nanoco needs further commercial production orders in the future, STMicroelectronics is obliged to assist in providing these order requirements to a certain extent.
Michael Edelman, CEO of Nanoco commented: "We are very pleased with the latest progress of the cooperation with ST. The two companies have been actively working to develop new products and values through our investment in the previous two years, such as Infrared sensing new materials, new equipment and large-scale production capabilities. The agreement now allows us to find new ways to market in the short term, and in the medium to long term can also help us find more potential applications.
ST's deep understanding of the sensor market and its many potential applications and customers makes it an ideal strategic customer for Nanoco. Nanoco's materials provide very important performance support for ST's silicon-based infrared sensors. Our mid-term roadmap for commercial production based on newly developed materials is being formed, which allows us to repurpose investments in the Runcorn electronic materials production line. "