Signs Follow-on Agreement with Osram

RNS Number : 0652U

Nanoco Group PLC

13 October 2014

 

For immediate release

13 October 2014

NANOCO GROUP PLC

("Nanoco" or the "Company") 

Signs follow-on Joint Development Agreement with Osram

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 signed a follow-on joint development agreement with Osram, one of the world's largest lighting companies, in connection with the use of Nanoco quantum dots in general lighting.

Current methods for producing white light from a blue LED tend to produce light that is weak in red wavelengths, resulting in light that lacks warmth and fails to show true colours. Nanoco quantum dots have the potential to overcome these issues, which are limiting the widespread adoption of LEDs in certain general lighting applications.

Nanoco has been working with Osram under joint development agreements since 2011 with the objective of delivering LED lighting with superior performance characteristics.  Considerable technical progress has been made to date in optimising the method for incorporating Nanoco's cadmium-free quantum dots with blue LEDs. During this latest phase of work with Osram, which is for a 12-month period, it is intended to further the product development.

Michael Edelman, Nanoco's Chief Executive Officer, said: "We're delighted to sign this latest joint development agreement with Osram and we are very excited about the potential of our technology in general lighting. We have worked with Osram since 2011 and have made significant technical progress towards the development of an LED incorporating cadmium-free quantum dots and offering substantially improved colour performance."

For further information, please contact:

Nanoco	Tel: [phone]
Michael Edelman, Chief Executive Officer
Mark Sullivan, Interim Chief Financial Officer
Canaccord Genuity - Nomad and Joint Broker	Tel: [phone]
Simon Bridges
Cameron Duncan
Liberum - Joint Broker	Tel: [phone]
Simon Atkinson
Richard Bootle
Buchanan	Tel: [phone]
Mark Court / Fiona Henson / Sophie Cowles

Notes for editors:

About Nanoco Group plc

Nanoco is a world leader in the development and production of cadmium-free quantum dots and other nano-materials for use in multiple applications including LCD displays, lighting, solar cells and bio-imaging. In the display market, it has an exclusive manufacturing and marketing licensing agreement with The Dow Chemical Company.

Nanoco was founded in 2001 and is headquartered in Manchester, UK. It has production facilities in Runcorn, UK, and a US subsidiary, Nanoco Inc, based in Concord, MA. Nanoco also has business development offices in Japan, Korea and Taiwan. Its technology is protected worldwide by a large and growing patent estate.

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.nanocogroup.com.

 

END

 

 

AGRQKBDQFBDDCKD