Nanoco Group (
www.nanocotechnologies.com), which produces cadmium-free quantum dots for use in LCD displays, lighting, solar cells and bio-imaging, has said that it is “delighted” by the progress it is making towards commercialising its product.
Announcing interim results for the six months ending 31 January, chairman Anthony Clinch said the Manchester-based company had narrowed its pre-tax losses to £4.13 million (compared to £4.99 million the previous year).
Meanwhile, revenues increased to £1.61 million (compared to £680,000). Mr Clinch said that its partnership with Dow Chemical Co is going well and a factory is being built in South Korea to produce its products on a large scale. Production is expected to begin in mid-2015.
Nanoco also reports that LG Electronics signed a partnering agreement with Dow in January for the supply of Nanoco quantum dots for LG Ultra HD ColourPrime TVs, which will be launched soon in the USA.
Mr Clinch added: “We have made considerable technical pro-gress in our other key target markets of LED general lighting, solar and bio-imaging. Going forward, we intend to put more emphasis on these additional markets, all of which offer major commercial potential.”