– UK, Manchester – Nanoco Group plc (LON: NANO), a world leader in the development and manufacture of cadmium-free quantum dots and other nanomaterials emanating from its technology platform, today announced the appointment of current COO and CFO, Brian Tenner as new CEO effective from 1 September 2020, succeeding Dr Michael Edelman who steps down from the Board with effect from 1 September 2020.
Non-Executive Chairman, Dr Christopher Richards said: “Nanoco has had an exceptionally busy year, culminating in substantial progress in recent months in respect of our litigation against Samsung and momentum in our commercial and financing activity which has significantly extended the Group’s cash runway until the end of 2022.”
“This is to the credit of the executive team, led by Michael, Brian and Nigel Pickett our Chief Technology Officer. Having achieved these milestones, it is important that we now implement our existing CEO succession plan to match the size and shape of the Board to the more focused group Nanoco is becoming. I am confident that, as CEO, Brian will provide the right leadership for this next phase in the Company’s development.”
“I am immensely grateful for Michael’s significant contribution during his many years at Nanoco, having led the business since September 2004, through its initial fundraising, spin-out from the University of Manchester and IPO on the London Stock Exchange in 2009. We are fortunate to retain Michael’s services as a Special Advisor to the Group’s Litigation Sub-committee as we progress our litigation against Samsung.”
Dr Edelman will remain available to the Company as a Special Advisor, reporting to the Group’s new Litigation Sub-committee, which will be chaired by the Non-Executive Chairman, Dr Christopher Richards.
Dr Michael Edelman, Nanoco’s outgoing CEO, commented: “It has been a great honour and pleasure being part of the development of the world-leading quantum dot player that Nanoco is today, working with such an incredibly talented team of entrepreneurs and scientists who have seen the Group germinate from an idea to a global player in this cutting-edge technology. Brian is an excellent successor as CEO and will have my continued support as well as the full support of all of our staff.
“I am also very pleased to be leaving the Group following the significant recent achievements, and I look forward to seeing through the Samsung litigation in an advisory role.”
About Brian Tenner
Brian joined the Group in August 2018 and has had a significant impact on the Group’s performance in his time with Nanoco, particularly in sharpening its commercial focus, providing people leadership in the UK and improving cost control. Brian will be supported by Nanoco’s highly capable leadership team. Liam Gray, currently Group Financial Controller, will take on additional finance activities as UK Finance Director and Company Secretary to allow Brian to focus on his CEO role and ongoing operational responsibilities.
About Nanoco Group plc
Nanoco 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. 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 and Electronics markets. One of the interesting properties 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® 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 more information: https://www.nanocotechnologies.com/
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