AIM-quoted nanomaterials business Nanoco (LON:NANO) has successfully produced a 1kg batch of red cadmium-free quantum dots (CFQD™) specified by a major Japanese corporation, triggering a US$2 million payment to Nanoco by the corporation. Manchester based Nanoco is a specialist in the development and manufacture of cadmium-free quantum dots that are used in lighting, solar cells and biological imaging,

Quantum dots are tiny particles, or “nanoparticles”, of a semiconductor material, traditionally cadmium or zinc, and display unique optical and electrical properties. Quantum dots are used in multiple applications and can be combined into a wide range of materials including liquids, polymers and glass. 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.

Michael Edelman, Nanoco's chief executive, said: “We are delighted to have produced this 1kg quantity of red quantum dots to the customer’s specifications. The production of our first 1kg of quantum dots is a significant achievement, and a further endorsement of our recently commissioned manufacturing facility. We now look forward to completing the green technical milestones and producing 1kg of green quantum dots.”

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