Milestone Payment

RNS Number : 3255V

Nanoco Group PLC

01 November 2010

 



For immediate release

1 November 2010

NANOCO GROUP PLC

("Nanoco" or "the Company")

Milestone Payment

Nanoco Group plc (AIM: NANO), a world leader in the development and manufacture of quantum dots, solar inks and other nanomaterials, announces that it has achieved a key milestone in its solar photovoltaic agreement with Tokyo Electron, a major Japanese semiconductor production equipment supplier, triggering a payment.

The milestone was triggered after Nanoco successfully developed and supplied a bespoke solar ink, which has been used to create a nanomaterial thin film for the production of solar cells.

The next step in the nine-month development phase of the agreement, which was signed in June 2010, is to continue to improve solar power efficiency.

Michael Edelman, Nanoco's Chief Executive Officer, said: "This milestone in our agreement with Tokyo Electron represents another major step for Nanoco and is further endorsement of the potential of our technology in the solar power sector."

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: + 44 (0) 20 7996 2490
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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