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Successful Production of 1kg Batch of Quantum Dots Trigger US$2m Payment

Apr 1 2011

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Nanoco Group plc (AIM: NANO), a world leader in the development and manufacture of cadmium-free quantum dots, announces that it has successfully produced the 1kg batch of red cadmium-free quantum dots (CFQD) specified by a major Japanese corporation, which triggers a US$2 million payment to Nanoco by the corporation.

The production of cadmium-free quantum dots on this scale is a major technical achievement, which underlines the scalability of Nanoco's patent-protected technology and the expertise of its production and technical teams.

The 1kg of red CFQD was manufactured to specification at Nanoco's recently commissioned production facility in Runcorn, Cheshire.

Nanoco expects to be able to demonstrate that green CFQD meet the final technical milestones within the next few months, which will trigger a milestone payment of US$1 million. This will be followed by the production of 1kg of green CFQD for delivery to the same customer in the second half of 2011. Once validated, the green CFQD will also attract a US$2 million milestone payment.

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