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About this update from Nanoco Group Plc
[{"type":"text","content":"\n RNS Number : 1492Y Nanoco Group PLC 17 December 2010 \n \n\n\n\n\n\nFor immediate release\n\n\n17 December 2010\n\n\n\n\n \n \nNANOCO GROUP PLC\n(\"Nanoco\" or \"the Company\")\n \nMilestone Payment\n \nNanoco Group plc (AIM: NANO), a world leader in the development and manufacture of quantum dots, solar inks and other nanomaterials, announces that it has achieved a further milestone in its supply and licence agreement with a major Japanese corporation, triggering a US$500,000 payment. \n \nThe milestone was achieved when heavy-metal-free red quantum dots being developed by Nanoco met performance criteria including a performance life of at least 50,000 hours. \n \nThe remaining milestones in the supply and licence agreement relate to the performance characteristics of green quantum dots; the delivery of 1kg of red quantum dots, which is expected early in 2011; and the delivery of 1kg of green quantum dots.\n \nThe Japanese corporation will combine the red and green quantum dots with a blue LED to produce a highly efficient white light source. \n \nMichael Edelman, Nanoco's Chief Executive Officer, said: \"We're delighted to achieve this technical milestone which demonstrates that the performance life of our quantum dots can meet or exceed the requirements of the marketplace. This milestone also reinforces our belief that Nanoco quantum dots provide the ideal solution for producing energy efficient white light.\n \n\"We look forward to achieving the remaining milestones under this supply and licence agreement and then to supplying the Japanese corporation with commercial quantities of quantum dots.\"\n \n \n \nFor further information please contact:\n \n\n\n\n\nNanoco \n\n\nTel: +44 (0) 161 603 7900 \n\n\n\n\nMichael Edelman, Chief Executive Officer\n\n\n\n\n\n\n\nColin White, Chief Financial Officer\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nBank of America Merrill Lynch - Corporate Broker\n\n\nTel: + 44 (0) 20 7996 2490\n\n\n\n\nWill Smith\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nZeus Capital - Nominated Adviser\n\n\nTel: +44 (0) 161 831 1512\n\n\n\n\nAlex Clarkson\n\n\n\n\n\n\n\nNick Cowles\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nBuchanan Communications\n\n\nTel: +44 (0) 20 7466 5000\n\n\n\n\nMark Court / Christian Goodbody \n\n\n\n\n\n\n\n \n \nNotes for editors:\n&nb...