Nanoco Group PLC (LON:NANON) has received the final £1.6m milestone payment from its major US customer. This confirms the company remains on schedule to start volume manufacture of nanomaterials for this client in H1 FY20 and provides substantial support for our FY19 estimates.
This is the final £1.6m milestone of three payments totalling £4.2m indicating that Nanoco remains on track with the programme to develop a scale manufacturing facility for mass production of nanomaterials for the client’s advanced electronics applications. Commissioning, stress testing and optimisation of the facility will be carried out in H119, with volume production planned for H1.
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