Grants aid Nanoco’s development

PIONEERING tech firm Nanoco has picked up government grants worth £736,000.

The cash has come from the Technology Strategy Board, which aims to accelerate UK economic growth by supporting business-led innovation.

The Manchester-based business makes quantum dots – tiny fluorescent particles of semiconductor material which have the ability to emit light.

The company said the money would be used to further develop its quantum dot technology which is in demand by the makers of liquid crystal displays for computers, TVs and phones because it consumes less power than existing systems.

It has also received an award – the value of which was not disclosed – under the ‘Knowledge Transfer Partnerships’ programme which means it will be working closely with the University of Salford.

Chief executive Michael Edelman said: “Grant funding is non-dilutive and represents a useful additional funding source. Knowledge Transfer Partnerships also have a valuable role in supporting research and in creating the potential for researchers to transfer into industry.”