Development Agreement

RNS Number : 2895E

Nanoco Group PLC

05 April 2011

 



For immediate release

5 April 2011

NANOCO GROUP PLC

("Nanoco" or "the Company")

Product Development Agreement

Nanoco Group plc (AIM: NANO), a world leader in the development and manufacture of cadmium-free quantum dots, announces that, following the successful completion of its material joint development agreement (JDA) with a major Japanese electronics company, Nanoco has signed a follow-on product development agreement, triggering an upfront payment of US$800,000. 

The use of quantum dots in LEDs for the backlighting of LCD TVs brings significant advantages compared with currently used technology, including superior colour performance.

Michael Edelman, Nanoco's Chief Executive Officer, said: "Having worked over the past 18 months to demonstrate that our cadmium-free quantum dots have the physical properties our partner requires, we are now very excited to be working with them to incorporate the quantum dots into a specific consumer device.  This agreement marks Nanoco's progress to the final stage of taking quantum dots from the lab into a commercially available product."

For further information please contact:

Nanoco	Tel: [phone]
Michael Edelman, Chief Executive Officer
Colin White, Chief Financial Officer
Bank of America Merrill Lynch - Corporate Broker	Tel: [phone]
Will Smith
Zeus Capital - Nominated Adviser	Tel: [phone]
Alex Clarkson
Nick Cowles
Buchanan Communications	Tel: [phone]
Mark Court / Christian Goodbody

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 lighting, solar cells and biological imaging. 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.

For further information, please visit www.nanocotechnologies.com.

 

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