Cadmium free quantum dots pioneer ‘accelerating commercialisation’
NANOCO Group, a specialist in the ground breaking development of cadmium-free quantum dots for the display industry, says it has transformed its business which “should accelerate” the commercialisation of its technology.
The Manchester company’s losses in the year ending July 31 have grown to £10.61mi (2015: £8.97m), and revenue has fallen to £0.47m (2015: £2.03m).
However, Nanoco, which has manufacturing facility in Runcorn, has a licensing agreement with the Dow Chemical company sample requests have increased over the past few months for Dow’s TREVISTA™ cadmium-free quantum dots and are being fulfilled exclusively from Dow’s dedicated Cheonan plant in South Korea.
The group has signed non-exclusive deals with Taiwan-headquartered Wah Hong Industrial Corporation and with Germany’s Merck KGaA.
These deals, together with the revised agreement with Dow, have put Nanoco in an excellent position to accelerate the commercialisation of its technology in display, said chairman Dr Christopher Richard.
Meanwhile, its Merck licence agreement signed in July 2016 and the transfer of Nanoco technology to the company is advanced and initial manufacturing trials are expected to be running in the near future.
There has also been a significant increase in manufacturing capacity following process improvements and efficiencies developed during the year, together with moving to shift work post year end.
Its IP portfolio has grown to 467 patents and patents pending at year end.
Cash and cash on deposit at July 31 was £14.51m (2015: £24.31m).
Richard, said: “I am encouraged that the significant progress made during the year, especially in new licensing agreements and manufacturing improvements, have put the group in a strong position for rapid revenue growth. Combined with our solid cash position, we look forward to the future with confidence.”
He said that, while its focus in 2016 has been on the display market, Nanoco’s technology had several important applications beyond that sector.
“Important progress was made during 2016 in the Group’s three other target markets – general lighting, life sciences and solar energy,” he added.
