Nanoco Group PLC (LON:NANON) AGM statement flags that good progress is being made in both the Runcorn site build out and developing next-generation materials for the major US client. Guidance for FY19 revenues is re-affirmed and the company remains well placed to deliver an inflection in revenues after that.
Nanoco remains on track to start volume production for its major US customer in H1 FY20. The build out of the Runcorn facility is on schedule to complete by the end of the calendar year, which will pave the way for commissioning, stress testing and optimisation in calendar H119. Progress to plan will trigger the milestone payments that underpin our FY19 forecasts and FY19 guidance of revenues broadly doubling has been maintained. The new facility’s footprint gives an indication of the significant revenue potential from this relationship once volume production starts. The company also reports making good performance in developing the next generation of materials for this client.
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