Successful Engagement with New Customers
The company made significant progress with existing customers and engaged several new customers, some approaching formalized contracts.
Fully Equipped Device Lab
Investment in the device lab is completed, allowing timely customer demos for image sensor market.
Reorganization and Reduced Cash Burn
Reorganization led to a more focused team and reduced cash burn by 30%, from £0.7 million to £0.5 million per month.
Market Growth Projections
Quantum dot materials market expected to reach $1 billion by 2029, with substantial growth drivers identified.
Significant Growth in Quantum Dot LCD Market
Robust growth of 27%-28% expected this year, largely fueled by mini-LED configuration tied to quantum dots.
Positive Financial Position
Finished the period with €15.5 million of cash in the bank, no external debt, and revenue forecast upgraded to £6.9 million.