Nanoco Group PLC says it has signed with an unnamed, large, U.S.-listed corporation for a material development and supply partnership.
Under the agreement, Nanoco, which develops nanoparticles and cadmium-free quantum dots, will be able to scale-up and mass produce nanoparticles for advanced electronic devices and supply them from its production facility in Runcorn, U.K. The U.S. partner will fund the capital expenditure required to expand the Runcorn facility and the commercial terms include payments for success-based milestones and commercial supply of materials.
Nanoco believes this commercial supply is anticipated to begin in early 2019 based on its current timelines. Nanoco has been a champion for the elimination of cadmium in quantum dots that is considered to be one of six toxic substances banned from use in Europe in electrical and electronic equipment by the European Union’s Restriction of Certain Hazardous Substances (RoHS) directive.
Last June, the company announced it had received its first commercial order for cadmium-free quantum dots from Wah Hong Industrial Corp., a maker of optical films and sheets for next-generation displays.
"This transaction not only exemplifies the potential of our technology, but also the recognition that Nanoco can continue to pursue broad partnerships in diverse markets,” says Michael Edelman, CEO of Nanoco. “Our deep expertise in the development and mass production of highly differentiated nanoparticles has enabled us to create partnerships, and future revenue streams, with partners around the globe."