Boost for Nanoco’s expansion plans

HI-TECH manufacturer Nanoco, which develops and makes quantum dots, will tell shareholders today it is making good progress and is taking more lab space as it continues to grow.

The Manchester-based AIM company is holding its annual meeting today where chairman Peter Rowley, will update investors on the group’s operational and financial progress.

He will say: “”The current financial year is proceeding well. We continue to make good progress with our commercial relationships, our technology, our manufacturing capability and our company infrastructure.

“In our commercial relationships we are making good progress across our LED and solar projects, including the final stages of development of green quantum dots for a major Japanese corporation. In addition, we are in discussions with further potential commercial partners.”

The company, which supplies the manufacturers of LED lights, televisions and mobile phones, has signed a lease for a further 12,500sq ft of laboratory space at its Manchester head office.

The University of Manchester spin-out has also received planning permission for its Kilo Lab production facility in Runcorn.

Quantum dots  are tiny fluorescent particles of semiconductor material which have the ability to emit light. They are in demand because they consume less power than existing systems.

Dr Rowley will add: “We look forward to the future with confidence.”