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Nanoco Continuing Successful Transition from a Research Focus to A Commercial Focus

Nanoco Group plc (AIM: NANO), a world leader in the development and manufacture of cadmium-free quantum dots and other nanomaterials, is pleased to announce its interim results for the six months ended 31 January 2012, as well as several key developments.

Highlights in the period to date:

  • US$1m milestone payment for achieving specification targets for green quantum dots including a 50,000 hour performance life
  • Joint development agreement signed with one of the world's largest lighting companies for use of Nanoco quantum dots in general lighting
  • Further agreement signed with Tokyo Electron in the next phase of development of a nanomaterial-based solar film
  • Joint development agreement signed with major Asian electronics company for the use of Nanoco quantum dots in the LED backlighting of LCD displays
  • Manufacturing scale-up continued with planning permission granted for the Kilo Lab facility at Runcorn
  • Cash, cash equivalents and deposits as at 31 January 2012 of £14.4 million (31 July 2011: £17.1 million)

Commenting on the results, Dr Peter Rowley, Nanoco's Chairman, said: "Our transition from a research-based company to a commercially focused, high-tech manufacturing business continues apace. Our existing commercial agreements are proceeding well and we continue in discussions with further potential customers. We are now working to deliver a 1kg batch of green quantum dots to a Japanese customer, attracting a US$2 million milestone payment."

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