NANOCO GROUP PLC Achieves US$1m Performance Milestone for Green Quantum Dots
Nanoco Group plc, a world leader in the development and manufacture of cadmium-free quantum dots and other nanomaterials, announces that it has achieved the performance milestone for green quantum dots being developed in its supply and licence agreement with a major Japanese corporation, triggering a US$1 million payment.
The criteria for achieving the milestone included a performance life of at least 50,000 hours.
Nanoco will now begin production of a 1kg batch of the green quantum dots. Once produced, and validated by the customer, the 1kg batch will attract a US$2 million milestone payment.
The performance milestone for the green quantum dots follows the successful production last year of a 1kg batch of red quantum dots for the same customer.
The customer's intention is to combine the red and green quantum dots with blue LEDs to produce a highly efficient source of white light for multiple potential applications including backlighting for LCD displays and LED-based general lighting.
Michael Edelman, Nanoco's Chief Executive Officer, said: "We are delighted to have demonstrated that the performance of these green quantum dots meets our customer's specification as it marks an important step towards the customer's launch of a marketed product.
"Last year, we successfully produced 1kg of red quantum dots for the same customer and we will now begin production of a 1kg batch of green dots. The customer will then be able to combine the red and green dots with blue LEDs to produce a highly efficient source of white light for multiple end-uses."