Cadmium-free quantum dot company out to raise £8.6m

Ground-breaking cadmium-free quantum dot specialist Nanoco is bidding to raise £8.6m in a share placing to retain its existing manufacturing facility at Runcorn in Cheshire and to improve the efficiency of its operations.

Scaled-back shares in the company, whose specialism is at the cutting edge of display screens and LED lighting technology is to be offered to immediately to institutional investors, directors and senior management by way of an accelerated bookbuild conducted by Peel Hunt.

Chief executive Michael Edelman said: “We are set to secure the funding which will fully support the company as we commercialise our technology and take advantage of large and growing market opportunities.

“The board appreciates the patience of shareholders and has worked hard to secure the terms of this important fundraising, which we believe to be in the best interests of the company and its shareholders as a whole.

“We are greatly encouraged by the support of our existing investors, their confidence in Nanoco’s strategy and recognition of the immense potential of our technology.”