LONDON (Alliance News) - Nanoco Group PLC on Thursday said it is making significant progress in growing its business and commercialising its cadmium-free quantum dots technology.
Quantum dots are nanocrystals made of semiconductor materials, which can be used in solar cells, LEDs and diode lasers. Nanoco's quantum dots do not contain cadmium - a heavy metal that is currently restricted under European environmental law.
Nanoco said it has made significant progress in the display industry and is working with a number of customers in the Korean, Chinese, Japanese, Taiwanese and US markets.
It has also made progress on commercialising its technology in the lighting industry and has already received orders through its joint venture with Marl International Ltd.
"We are continuing to work on the commercialisation of our technologies in our other target areas, with lighting being the most advanced to date. The use of Nanoco's CFQD quantum dots in a range of lighting products has grown to the point that has justified the formation of a standalone division to accelerate commercialisation in this area," said Chief Executive Michael Edelman.
Shares in Nanoco were up 3.4% to 78.09 pence on Thursday.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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Nanoco (NANO)