Nanoco triggers milestone payment
NANOTECHNOLOGY specialist Nanoco has received a further milestone in its supply and licence agreement with a major Japanese corporation, triggering a £320,000 payment.
The AIM-listed firm produces quantum dots – tiny fluorescent particles of semiconductor material which have the ability to emit light.
They can be used in flat screen TVs and mobile displays and are also effective at absorbing light so Nanoco has been applying the technology to solar power. They are in demand because they reduce power consumption and the firm has struck several agreements with major electrical firms.
Nanoco said the milestone was achieved when heavy-metal-free red quantum dots met performance criteria, including a performance life of at least 50,000 hours. It did not name the Japanese company.
The remaining milestones relate to the performance characteristics of green quantum dots; the delivery of 1kg of red quantum dots, which is expected early in 2011; and the delivery of 1kg of green quantum dots. The Japanese company plans to combine the material with a blue LED to produce a highly efficient white light source.
Nanoco’s chief executive Michael Edelman, said: “We’re delighted to achieve this technical milestone which demonstrates that the performance life of our quantum dots can meet or exceed the requirements of the marketplace.
“This milestone also reinforces our belief that Nanoco quantum dots provide the ideal solution for producing energy efficient white light. We look forward to achieving the remaining milestones under this supply and licence agreement and then to supplying the Japanese corporation with commercial quantities of quantum dots.”
