Proactive Investors - Run By Investors For Investors

Nanoco gets US$600,000 milestone payment from Japanese electronics company

Nanoco gets US$600,000 milestone payment from Japanese electronics company

Nanoco Group (LON:NANO) has received US$600,000 as a milestone from a major Japanese electronics company in relation to the design and development of quantum dots - which are used in the LED backlighting of LCD televisions.

Quantum dots are fluorescent nano-sized particles of semiconductor material which have the ability to emit light in a specific colour dependent on the size of the particle.

“The achievement of this milestone, which focused on longevity and optical performance of the quantum dot LED, provides further endorsement of our ability to design and supply bespoke quantum dots capable of being incorporated into robust consumer products,” Nanoco chief executive Michael Edelman commented.

The development agreement, which runs for a total of 18 months, began in September 2009 and it is on schedule for completion in early 2011.  Under the terms of the deal, there is one final milestone payment remaining.

The company expects to negotiate a supply and licence agreement with the major Japanese group once the development deal has been concluded.

Applications for quantum dots include solid-state lighting, solar cells and biological imaging.

Shares in the company were up 8 percent in late afternoon trade, albeit off earlier highs.

View full NANO profile View Profile

Nanoco Group Timeline

Article
November 02 2009

© Proactive Investors 2019

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use