Nanoco Group PLC, a leader in the development and manufacture of cadmium-free quantum dots and other nanomaterials, has provided an AGM statement and trading update. The company has fulfilled its last strategic milestone by delivering its first ever commercial production orders, which were shipped in November 2023. The initial use case is for a low volume application, with demand expected to gradually increase and make Nanoco self-financing by 2025. The company has also announced an extended collaboration with an Asian Chemical Customer for the development of a second generation material for infra-red sensing. Nanoco is in advanced discussions for a further development agreement with another major customer. Work is underway at the Runcorn site to fit out a new device facility, which will expand services and accelerate the development of new materials. Overall trading remains in line with expectations for FY24. The return of capital process is on track for early 2024. The company is also in the process of recruiting a new Non-Executive Director with expertise in commercialising new technologies in relevant electronics markets. The recruitment process is nearing completion and an update is expected soon. CEO Brian Tenner stated that Nanoco is now a fully funded new technology business with commercial traction for two products. The company has strong and validated IP and the financial resources to defend and fund R&D. The Board is confident in the Group's ability to deliver shareholder value in the medium term.