Nanoco makes quantum leap at The Heath
Nanoco Group plc, a world leader in the development and manufacture of cadmium-free quantum dots and nanomaterials, is expanding its operations at The Heath Business and Technical Park after signing an agreement to develop and sell its products to a large, undisclosed US corporation.
Nanoco, which has its UK headquarters in Manchester, launched its existing facility at The Heath in Runcorn in 2010 where it designs and manufactures quantum dots and other nanomaterials for use in LCD televisions, monitors and lighting systems.
To keep pace with the companys growth Nanoco has now entered an agreement with SOG Group, The Heaths owner and operator, to take over 10,000 square feet of additional space for state-of-the art laboratories, offices and storage capacity.
Nanocos original bespoke facility, created by SOGs in-house technicians, covered 3,000 square feet of floor space. However as the company has expanded it required significantly more space to meet the demand for quantum dots from markets including Japan, China and the USA.
John Lewis, SOGs Managing Director, says: We are delighted that Nanoco is extending its operations with this exciting new research & development and manufacturing facility which will provide more highly skilled jobs. This is excellent for The Heath and is a boost to the further development of high-tech business in Halton.
It is another excellent example of businesses operating at The Heath who have been able to secure overseas investment to fund their expansion here. Nanoco is supplying its unique product to a global market and this is really positive news not only for the Runcorn economy but for the entire north-west region.
Once again SOGs creative and technical team have responsibility for the design and refurbishment of an existing building on The Heath site to meet Nanocos specific requirements including purpose-built fume cupboards, gas and air-handling facilities and specialist mechanical and electrical services. Work is already underway with the new facility scheduled to open in July.
Nanocos new American partner will fund the capital expenditure required to expand its Runcorn facility. The commercial terms of the agreement include payments for success based milestones, and commercial supply of materials, both of which will strengthen Nanoco's balance sheet. Based on the current timelines, commercial supply is anticipated to begin early 2019.
Michael Edelman, Chief Executive of Nanoco, says: "This transaction not only exemplifies the potential of our technology, but also the recognition that Nanoco can continue to pursue broad partnerships in diverse markets. Our deep expertise in the development and mass production of highly differentiated nanoparticles has enabled us to create partnerships, and future revenue streams, with partners around the globe.
About The Heath
The Heath, which was established as a business park in 2000, has attracted over 175 British and international companies, ranging from bio science firms to IT specialists, from food industry consultants to website designers, and from government agencies to telemarketing specialists. Residents have been attracted by the 60-acre business park's vast range of impressive facilities and its flexibility in space management and in attitude. The Heath offers a wide range of office and laboratory space, together with a purpose-built conference centre that includes a 120-seat lecture theatre. Residents can also choose from a wide selection of additional services, including telephone and broadband connectivity, laboratory support services, scientific glass-blowing and precision engineering facilities, to name but a few. Residents also have access to The Heath's fitness centre and gym. Combined with 1,700 parking spaces, its first-class transport links - and the ability for residents to select and pay for just the services they require - it's no surprise that the number of companies on The Heath is continuing to grow rapidly.
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