Nanoco Group PLC RoHS Update (6955D)
February 02 2015 - 2:01AM
UK Regulatory
TIDMNANO
RNS Number : 6955D
Nanoco Group PLC
02 February 2015
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 Tel: +44 (0) 20 7523 8000
Joint Broker
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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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