Last checked at 2 Feb 2015 07:00
For immediate release | 2 February 2015 |
NANOCO GROUP PLC
("Nanoco" or the "Company")
RoHS Update
Nanoco Group plc (AIM: NANO), a world leader in the development and manufacture of cadmium-free quantum dots and other nanomaterials, confirms that a proposed exemption to the Restriction of Hazardous Substances Directive (RoHS) for cadmium-containing quantum dots is shortly expected to be reviewed by Members of the European Parliament ("MEPs").
The legislative process includes a period of 60 days' scrutiny of the exemption by MEPs, though formal notification is awaited on the timing of the 60-day review. The legislative process includes the right to an immediate appeal should the European Parliament vote to enact the exemption.
The proposal being put forward for review is for an exemption that runs until 30 June 2018. A draft document of the proposed exemption is available at this link: http://ec.europa.eu/enterprise/tbt/en/search/?tbtaction=get.project&Country_ID=EU&num=257&dspLang=en&basdatedeb=14/01/2015&basdatefin=16/01/2015&baspays=&baspays2=&basnotifnum=&basnotifnum2=&bastypepays=ANY&baskeywords=&project_type_num=1&project_type_id=1&lang_id=EN
The document acknowledges that it would be "desirable to substitute cadmium in quantum dots" but states that cadmium-free quantum dots "are still in the scientific research stage and years away from production". This is clearly not the case as commercial quantities of cadmium-free quantum dots are currently available from Nanoco, and The Dow Chemical Company's ("Dow") mass production facility in South Korea remains on track for commercial production of cadmium-free quantum dots in the first half of this year.
Michael Edelman, Nanoco's Chief Executive Officer, said: "We await the decision of the European Parliament but in our view an exemption is entirely inappropriate and in conflict with the RoHS's stated objective of restricting the use of hazardous substances. Nanoco's cadmium-free quantum dots are already available commercially from the Company's Runcorn production facility, and Dow's mass production facility is under construction in South Korea to provide the capability to supply millions of LCD displays. Leading LCD display makers are choosing cadmium-free quantum dots because they are the preferred choice for human and environmental health."
For further information, please contact:
Nanoco | Tel: +44 (0) 161 603 7900 |
Michael Edelman, Chief Executive Officer | |
Mark Sullivan, Interim Chief Financial Officer | |
Canaccord Genuity - Nomad and Joint Broker | Tel: +44 (0) 20 7523 8000 |
Simon Bridges | |
Cameron Duncan | |
Liberum - Joint Broker | Tel: +44 (0) 20 3100 2000 |
Simon Atkinson | |
Richard Bootle | |
Buchanan | Tel: +44 (0) 20 7466 5000 |
Mark Court / Sophie Cowles / Stephanie Watson |
Notes for editors:
About Nanoco Group plc
Nanoco is a world leader in the development and production of cadmium-free quantum dots and other nanomaterials for use in multiple applications including LCD displays, lighting, solar cells and bio-imaging. In the display market, it has an exclusive manufacturing and marketing licensing agreement with The Dow Chemical Company.
Nanoco was founded in 2001 and is headquartered in Manchester, UK. It has production facilities in Runcorn, UK, and a US subsidiary, Nanoco Inc, based in Concord, MA. Nanoco also has business development executives in Japan, Korea and Taiwan. Its technology is protected worldwide by a large and growing patent estate.
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.nanocogroup.com.