TIDMNANO
RNS Number : 4997Z
Nanoco Group PLC
23 September 2009
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| For immediate release | 23 September 2009 |
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NANOCO GROUP PLC
("Nanoco" or "the Company")
Signs Agreement with Major Japanese Electronics Company
Nanoco Group plc (AIM: NANO), a world leader in the development and manufacture
of commercial quantities of quantum dots, announces that it has signed a joint
development agreement with a major Japanese electronics company under which it
will design and develop quantum dots for use in light emitting diodes (LEDs) in
liquid crystal display (LCD) televisions.
Nanoco will receive an upfront payment and milestone payments under the terms of
the agreement and, on completion of the 18-month development work, it is
expected that a supply and licence agreement will be signed.
The structure of this agreement is similar to an earlier agreement with another
major Japanese corporation active in the LCD display and general lighting
markets. The earlier agreement comprised a total of $1.2 million in joint
development payments during a 12-month period. The development work was
successful and a supply and licence agreement followed, from which a further
US$8 million in milestone payments is expected by 31 December 2010.
It is anticipated that Nanoco will sign further agreements with companies active
in the LED market in due course.
The use of LEDs as the backlight for LCD displays and in general lighting allows
a substantial reduction in the power consumed. Quantum dots offer key advantages
over the phosphors currently used to create white light from LEDs including
superior colour performance.
Michael Edelman, Nanocos Chief Executive Officer, commented: "We are delighted
to enter into this agreement with a major company aimed at using our quantum
dots in LCD TVs. This follows an earlier agreement with another major
corporation, which is progressing well. We anticipate signing further deals in
the LED market. This represents just one of the key areas in which we are making
rapid progress in the commercialisation of our quantum dot development, scale up
and manufacturing technology."
For further information please contact:
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| Nanoco | + 44 (0) 161 603 7900 |
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| Michael Edelman, Chief Executive Officer | |
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| | |
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| Zeus Capital | + 44 (0) 161 831 1512 |
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| Alex Clarkson | |
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| Nick Cowles | |
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| | |
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| Buchanan Communications | + 44 (0) 20 7466 5000 |
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| Mark Court / Jennie Spivey / Miranda Higham | |
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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
solid-state lighting, solar cells and biological imaging.Nanocos 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. It also has an office
in Tokyo, Japan. Nanoco began trading on the AIM market of the London Stock
Exchange in May 2009 under the ticker symbol NANO.
About quantum dots
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.
This information is provided by RNS
The company news service from the London Stock Exchange
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