Last checked at 24 Apr 2014 07:00
For immediate release | 24 April 2014 |
NANOCO GROUP PLC
("Nanoco" or "the Company")
Welcomes RoHS Report
Nanoco Group plc (AIM: NANO), a world leader in the development and manufacture of cadmium-free quantum dots and other nanomaterials, welcomes the publication of a report prepared for the European Commission in connection with exemptions to the Restriction of Hazardous Substances Directive. The report recommends only a temporary exemption for the use of cadmium-containing quantum dots in displays.
The exemption, which had been requested by companies involved in the production of cadmium-containing quantum dots, is recommended to run only to 1 July 2017.
The report states: "This exemption is recommended for a shorter period than that applied for, in light of the understanding that applications resulting in reduction of cadmium quantities as well as cadmium-free substitutes are in final stages of research."
It is also recommended in the report that there should be no exemption at the current time for the use of cadmium-containing quantum dots in solid state lighting.
The report, entitled Assistance to the Commission on Technological Socio-Economic and Cost-Benefit Assessment Related to Exemptions from the Substance Restrictions in Electrical and Electronic Equipment (RoHS Directive), will now be considered by the European Commission.
The full text of the report is accessible at the following link: http://rohs.exemptions.oeko.info/fileadmin/user_upload/RoHS_IX/20140422_RoHS2_Evaluation_Ex_Requests_2013-1-5_final.pdf
Michael Edelman, Nanoco's Chief Executive Officer, said: "This recommendation to grant a temporary exemption for cadmium-containing quantum dots used in displays recognises that cadmium is a hazardous substance and that Nanoco has developed a cadmium-free alternative on the threshold of commercialisation. We welcome the recommendation and continue to believe that display makers will choose cadmium-free quantum dots as the preferred solution to meet their human health and environmental agendas."
For further information please contact:
Nanoco | + 44 (0) 161 603 7900 |
Michael Edelman, Chief Executive Officer | |
Colin White, Chief Financial Officer
| |
Canaccord Genuity - Nomad and Joint Broker | +44 (0) 20 7523 8000 |
Simon Bridges | |
Cameron Duncan
| |
Liberum Capital - Joint Broker | +44 (0) 20 3100 2000 |
Simon Atkinson | |
Richard Bootle
| |
Buchanan | + 44 (0) 20 7466 5000 |
Mark Court / Fiona Henson / Sophie Cowles |
Notes for editors:
About Nanoco Group plc
Nanoco is a world leader in the development and production of cadmium-free quantum dots and other nano-materials for use in multiple applications including LCD displays, lighting and solar cells. 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 business development offices in the USA, 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.