Last checked at 12 Aug 2011 07:00
For immediate release | 12 August 2011 |
NANOCO GROUP PLC
("Nanoco" or "the Company")
Joint Development Agreement
Nanoco Group plc (AIM: NANO), a world leader in the development and manufacture of cadmium-free quantum dots, announces that it has signed a joint development agreement with one of the world's largest lighting companies which is already a major producer of light emitting diode (LED) lights.
The objective of the development agreement is to incorporate Nanoco's cadmium-free quantum dots (CFQDTM) into the lighting company's LEDs to create LED lighting with superior performance characteristics.
LED lighting has many advantages over traditional lighting - including long service life, reduced power consumption, compact size and shock resistance - but its colour performance is one factor that has limited its adoption. Nanoco's quantum dots have been shown to overcome this limitation, opening up the possibility of the widespread use of LED lighting in commercial, residential and other settings.
The 12 month agreement with the lighting company is expected to be followed either by further development work or by proceeding to product launch. The financial details of the agreement are not being disclosed.
Michael Edelman, Nanoco's Chief Executive Officer, said: "I'm delighted to sign this agreement with one of the world's largest lighting companies. We believe that our technology has the potential to unlock the widespread use of LED lighting in offices, homes and elsewhere because we can deliver the required colour performance."
For further information please contact:
Nanoco | Tel: +44 (0) 161 603 7900 |
Michael Edelman, Chief Executive Officer | |
Colin White, Chief Financial Officer | |
Bank of America Merrill Lynch - Corporate Broker | Tel: + 44 (0) 20 7996 2490 |
Will Smith | |
Canaccord Genuity - Nomad and Joint Broker | Tel: +44 (0) 20 7050 6500 |
Simon Bridges | |
Cameron Duncan | |
Buchanan Communications | Tel: +44 (0) 20 7466 5000 |
Mark Court / Christian Goodbody |
Notes for editors:
About Nanoco Group plc
Nanoco is a world leader in the development and manufacture of commercial quantities of quantum dots for use in multiple applications including lighting, solar cells and biological imaging. Nanoco's quantum dots, which are free of heavy metals and comply with RoHS legislation, can be combined into a wide range of materials including liquids, polymers and glass. Nanoco forms strategic partnerships with major end users across a range of applications.
Nanoco was founded in 2001 and is based in Manchester, UK. Nanoco began trading on the AIM market of the London Stock Exchange in May 2009 under the ticker symbol NANO.
For further information, please visit www.nanocotechnologies.com.