Nanoco hikes production levels
NANOTECHNOLOGY specialist Nanoco said it has made “excellent progress” in ramping up production levels of its quantum dots.
The AIM-listed firm’s dots – tiny fluorescent particles of semiconductor material which have the ability to emit light – can be used in flat screen TVs and mobile displays. They 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 but it needs to increase production levels to meet demand.
In October the Manchester firm took 3,000 sq ft at The Heath technology park in Runcorn and has invested £1.3m converting it into a large scale production plant.
At today’s annual meeting in Manchester chairman Peter Rowley will tell shareholders: “We have made excellent progress during the year in preparing the company for the supply of commercial quantities of quantum dots.
“The first semi-tech production lines at our new facility in Runcorn are in the process of being commissioned and we remain confident that the facility will be manufacturing significant quantities of quantum dots during the coming months.
“We have also made excellent progress in our commercial relationships and in pursuing new contracts. In June, we were very pleased to announce our first contract in solar energy, building on our existing relationships in solid-state lighting. The current financial year has started well and we are confident of achieving further progress across our business during the year ahead.”
