Achieves US$2m Milestone

RNS Number : 9203C

Nanoco Group PLC

09 May 2012

 



For immediate release

9 May 2012

NANOCO GROUP PLC

("Nanoco" or "the Company")

Achieves US$2m Milestone for Green Quantum Dots

Nanoco Group plc (AIM: NANO), a world leader in the development and manufacture of cadmium-free quantum dots and other nanomaterials, announces that it has successfully produced a 1kg batch of green cadmium-free quantum dots for a major Japanese corporation, triggering a US$2 million payment to Nanoco.

Nanoco supplied a 1kg batch of red quantum dots to the same Japanese corporation last year, also attracting a US$2 million payment. The production of the green dots marks another major technical achievement by Nanoco because green dots are significantly more challenging than red ones due to their smaller size.

The green quantum dots were produced at Nanoco's production facility in Runcorn, Cheshire.

The Japanese corporation is planning on developing a range of LED applications that incorporate Nanoco's red and green quantum dots including the backlighting of LCD displays and LED-based general lighting.

The value of using quantum dot LEDs in LCD TV backlighting is much improved colour performance. For general lighting applications Nanoco's quantum dots allow lighting manufacturers to tune the shade of white light produced giving next generation white LED lights the warm feeling of traditional incandescent lights. 

Michael Edelman, Nanoco's Chief Executive Officer, said:  "We are delighted to have produced a 1kg batch of green quantum dots to the specification of this major Japanese customer. It is the first time that we have produced green quantum dots on this scale, marking a particular technical achievement as green dots are just a few nanometers in diameter - about half the size of red ones. We now look to forward to the customer progressing to the launch of quantum dot LEDs, and to our on-going supply of quantum dots."

For further information please contact:

Nanoco	+ 44 (0) 161 603 7900
Michael Edelman, Chief Executive Officer
Colin White, Chief Financial Officer
Bank of America Merrill Lynch - Joint Broker	+ 44 (0) 20 7996 2490
Will Smith
Canaccord Genuity - Nomad and Joint Broker	+ 44 (0) 20 7523 8000
Simon Bridges
Cameron Duncan
Buchanan	+ 44 (0) 20 7466 5000
Mark Court / Jessica Fontaine

Notes for editors:

About Nanoco Group plc

Nanoco is a world leader in the development and manufacture of commercial quantities of quantum dots for use in multiple applications including displays, lighting and solar cells. Nanoco's quantum dots, which are free of heavy metals and comply with RoHS legislation, can be combined into a wide range of materials including liquids, polymers and glass. Nanoco forms strategic partnerships with major end users across a range of applications.

Nanoco was founded in 2001 and is based in Manchester, UK. Nanoco began trading on the AIM market of the London Stock Exchange in May 2009 under the ticker symbol NANO.

 

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