Manchester's Nanoco receives milestone payment - MIDAS

Manchester's Nanoco receives milestone payment

Nanoco Group, a world leader in the development and manufacture of quantum dots, solar inks and other nanomaterials, has achieved a further milestone in its supply and licence agreement with a major Japanese corporation, triggering a $500,000 payment.

The milestone was achieved when heavy-metal-free red quantum dots being developed by University of Manchester spin-out Nanoco met performance criteria including a performance life of at least 50,000 hours.

The remaining milestones in the supply and licence agreement relate to the performance characteristics of green quantum dots; the delivery of 1kg of red quantum dots, which is expected early in 2011; and the delivery of 1kg of green quantum dots.

Nanoco, which is based at Manchester’s Core Technology Facility, will combine the red and green quantum dots with a blue LED to produce a highly efficient white light source.

Michael Edelman, Nanoco’s Chief Executive Officer, said: “We’re delighted to achieve this technical milestone which demonstrates that the performance life of our quantum dots can meet or exceed the requirements of the marketplace. This milestone also reinforces our belief that Nanoco quantum dots provide the ideal solution for producing energy efficient white light.

“We look forward to achieving the remaining milestones under this supply and licence agreement and then to supplying the Japanese corporation with commercial quantities of quantum dots.”

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