LONDON (Alliance News) - Quantum dot and other nanomaterials manufacturer Nanoco Group PLC said Thursday it has agreed a modification of its licence agreement with US chemicals company Dow Chemical Co covering Nanoco's cadmium-free quantum dot technology.
Under the new agreement, Dow will have non-exclusive rights for the sale, marketing and manufacture of Nanoco's quantum dot technology for use in display applications.
Nanoco, meanwhile, will be free to pursue a range of other routes to market for its technology, giving it greater control of commercialising its intellectual property, it said.
As a result of the change to a non-exclusive agreement, Nanoco will get a lower royalty rate from Dow on Dow sales of cadmium-free dot products and will not get any earn-out income from Dow.
"We now have a multifaceted strategy in display in which we have a non-exclusive licence agreement with Dow along with the opportunity to form new partnerships and to work independently. We believe this is a very significant development for Nanoco as we are gaining greater control over the commercialisation of our technology in display against a very positive market backdrop," said Michael Edelman, Nanoco's chief executive.
Nanoco will publish interim results for the six months to the end of January on April 12.
Shares in Nanoco were down 9.8% to 41.50 pence Thursday.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
Copyright 2016 Alliance News Limited. All Rights Reserved.
Nanoco (NANO)