TIDMNANO
RNS Number : 2253E
Nanoco Group PLC
26 October 2022
FOR IMMEDIATE RELEASE 26 October 2022
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (596/2014/EU) AS THE
SAME HAS BEEN RETAINED IN UK LAW AS AMENDED BY THE MARKET ABUSE
(AMENDMENT) (EU EXIT) REGULATIONS (SI 2019/310) ("UK MAR").
Nanoco Group PLC
( " Nanoco", the " Group", or the " Company")
Litigation Update - Funded Law Suit Filed in China
Nanoco Group plc (LSE: NANO), a world leader in the development
and manufacture of cadmium-free quantum dots and other specific
nanomaterials emanating from its technology platform, announces
that it has filed a law suit against Samsung in China for the
willful infringement of the Group's IP.
This third law suit against Samsung is based on a sister patent
to one of the patents in the US litigation. China is a significant
market for the sale of high-end televisions, and is estimated to be
one of Samsung's larger markets for the sale of QD TVs.
The Group is continuing its focused approach to litigation in
different jurisdictions to allow more rapid and less costly
outcomes to be arrived at. The Funder for the US litigation has
agreed an expanded budget on similar commercial terms as the
existing funding to cover the litigation in China.
The Group continues to review options for litigation either in
other territories or against other parties that we believe may be
infringing Nanoco's world leading and patent protected
technology.
Brian Tenner, Chief Executive Officer of Nanoco Group plc,
said:
"Expanding our actions against Samsung reflects our confidence
in the merits of our cases in the US and Germany. The litigation
process in China is expected to be faster than the US process,
where multiple appeals can extend for a number of years. A final
outcome in China can be expected between one and two years from
filing suit. China is also another territory where an injunction is
more commonly available than in the US.
"We continue to pursue a patent litigation strategy that
delivers fair value for Nanoco's global IP portfolio. We are
grateful to be well supported in these endeavours by our Litigation
Funding Partner and our legal advisers at Mintz."
- Ends -
For further information, please contact:
Nanoco Group PLC :
Brian Tenner, CEO
Liam Gray, CFO +44 (0) 1928 761422
Peel Hunt LLP (Joint Corporate
Broker):
Paul Gillam
James Smith +44 (0) 20 7418 8900
Turner Pope Investments (Joint
Corporate Broker):
Andrew Thacker
James Pope +44 (0) 20 3657 0050
MHP Communications :
Reg Hoare
Pete Lambie
nanoco@mhpc.com +44 (0) 203 128 8570
The person responsible for arranging for the release of this
announcement on behalf of Nanoco is Liam Gray, Company
Secretary.
MAR
This Announcement contains inside information for the purposes
of article 7 of the Market Abuse Regulation (EU) 596/2014 which is
part of UK law by virtue of the European Union (withdrawal) Act
2018. Upon the publication of this announcement via a Regulatory
Information Service, this inside information will be considered to
be in the public domain.
FORWARD LOOKING STATEMENTS
This announcement (including information incorporated by
reference in this announcement) and other information published by
Nanoco may contain statements about Nanoco that are or may be
deemed to be forward looking statements. Such statements are
prospective in nature. All statements other than historical
statements of facts may be forward looking statements. Without
limitation, statements containing the words "targets", "plans",
"believes", "expects", "aims", "intends", "will", "may",
"anticipates", "estimates", "projects" or "considers" or other
similar words may be forward looking statements.
Forward looking statements inherently contain risks and
uncertainties as they relate to events or circumstances in the
future. Important factors such as business or economic cycles, the
terms and conditions of Nanoco's financing arrangements, tax rates,
or increased competition may cause Nanoco's actual financial
results, performance or achievements to differ materially from any
forward looking statements. Due to such uncertainties and risks,
readers are cautioned not to place undue reliance on such forward
looking statements, which speak only as of the date hereof. Nanoco
disclaims any obligation to update any forward looking or other
statements contained herein, except as required by applicable
law.
Notes for editors:
About Nanoco Group plc
Nanoco (LSE: NANO) harnesses the power of nano-materials.
Nano-materials are materials with dimensions typically in the range
1 - 100 nm. Nano-materials have a range of useful properties,
including optical and electronic. Quantum dots are a subclass of
nano-material that have size-dependent optical and electronic
properties. The Group produces quantum dots and other
nano-materials. Within the sphere of quantum dots, the Group
exploits different characteristics of the quantum dots to target
different performance criteria that are attractive to specific
markets or end-user applications such as the Display, Sensor and
Electronics markets. An interesting property of quantum dots is
their absorption spectrum. Nanoco's HEATWAVE(TM) quantum dots can
be tuned to absorb light at different wavelengths across the
near-infrared spectrum, rendering them useful for applications
including image sensors. Another interesting property of quantum
dots is photoluminescence: the emission of longer wavelength light
upon excitation by light of a shorter wavelength. The colour of
light emitted depends on the particle size. Nanoco's CFQD(R)
quantum dots are free of cadmium and other toxic heavy metals, and
can be tuned to emit light at different wavelengths across the
visible and infrared spectrum, rendering them useful for a wide
range of applications including displays, lighting and biological
imaging.
Nanoco was founded in 2001 and is headquartered in Manchester,
UK, with a US subsidiary, Nanoco Inc., in Concord, MA. Nanoco
continues to build out a world-class, patent-protected IP portfolio
generated both by its own innovation engine, as well as through
acquisition.
Nanoco is listed on the Main Market of the London Stock Exchange
and trades under the ticker symbol NANO. For further information
please visit: www.nanocotechnologies.com.
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END
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