Shares in Nanoco Group PLC (LSE:NANO) brightened up 8% to 19.8p in early trades after the quantum dot maker fulfilled its first-ever commercial production order.
The company said it completed shipments of two different 'first-generation' nanomaterials for use in infra-red sensing applications in electronic devices.
"Today's announcement records a critical milestone in Nanoco's evolution from an R&D first mover to an electronics materials production company," said chief executive Brian Tenner.
It had indicated at the time of its results last month that the first use of its quantum dots would be for low-volume applications, with this announcement confirming those expectations and supporting existing revenue guidance for 2024.
Nanoco said its 'second-generation' materials, for which it announced a development agreement with a customer last week, "will achieve even higher levels of performance and secure Nanoco's pipeline of product development for a number of years to come".
After winning litigation against Samsung earlier this year, the company said the funds from the settlement have allowed it to "enter global electronics supply chains as a robust partner whilst also enabling the accelerated development of new leading-edge materials", with the aim of being self-financing during the 2025 calendar year.