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Nanoco Group PLC on Tuesday said Founder Nigel Pickett has retired from the board as it expects to exceed market revenue forecasts. The Runcorn, England-based nanomaterials developer and manufacturer said in a trading update that it expects to report full-year revenue of £7.6 million for the twelve months to the end of July, ahead of the market forecast of £7.2 million. The firm noted additional services and product revenue of around £100,000, plus extra licence revenue of around £300,000 due to accelerated recognition of revenue from the Samsung licence after 13 patents lapsed during the period. It said underlying unaudited adjusted earnings before interest, tax, depreciation and amortisation was moderately ahead of expectations due to the increased revenue. Core markets, along with the wider quantum dot markets, are forecast to experience significant growth, Nanoco said. The firm added that discussions are ongoing in relation to potential further joint development agreements with a number of companies, some of which are outside of historical Nanoco markets. It is continuing to assess ‘strategic options’ for its operating business with ‘a number of interested parties’. ‘This has been an important year for Nanoco during which our business development team has been fully focused on enhancing Nanoco’s profile and maximising our organic growth prospects. Consequently, we have a number of promising, ongoing discussions with companies across several industry segments regarding future product developments, some of which are in new areas for the group,’ said Chief Executive Officer Dmitry Shashkov. ‘In tandem, we remain in discussions with multiple parties as we assess our strategic options to maximise value for shareholders, and look forward to updating shareholders in due course.’ The company also announced the retirement of Founder & Chief Technology Officer Nigel Pickett, who stepped down from the board on Tuesday but will remain an employee until February. Ombretta Masala has been promoted to succeed Pickett as director of technology, after directly reporting to Pickett for 18 years. The director of technology will not be a board position. ‘In Ombretta we have a very capable successor who has significant experience in all aspects of technology development and [research & development] management, and she has the capabilities to drive Nanoco through what is an exciting next chapter of commercial growth,’ said Chair Jalal Bagherli. Shares in Nanoco were flat at 13.25 pence in London on Tuesday afternoon. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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