According to the Financial Times, Nanoco’s QD factory in South Korea – built with Dow Chemical – has not yet started production, as was stated in Nanoco’s preliminary financial results last month (Nanoco Doubles Annual Balance Sheet).
Production at the new factory will actually not begin until 2016. Part of the delay was apparently down to LG, a major partner for Nanoco, which insists that the dots it will buy come from the new factory. LG apparently decided that it wanted the dots in the form of a film, rather than a resin.
Nanoco is now expected to receive its first royalty revenue in February 2016, rather than this month, taking $250 million from the first $1 billion of sales. The delay will ensure ‘another year of losses’, says the FT.
Despite this, investors remain optimistic. Henderson Global Investors raised its stake in the company to above 15% on the 22nd October.
