Signs further agreement with Tokyo Electron

RNS Number : 9644T

Nanoco Group PLC

20 December 2012

 



For immediate release

20 December 2012

NANOCO GROUP PLC

("Nanoco" or the "Company")

Signs Further Agreement with Tokyo Electron

Nanoco Group plc(AIM: NANO), a world leader in the development and manufacture of cadmium-free quantum dots and other nanomaterials, announces that it has signed a follow-on agreement with Tokyo Electron, the major Japanese equipment supplier, for the on-going development of a nanomaterial-based solar film.

This agreement, which runs until September 2014, represents the third phase of a joint development agreement (JDA) initially signed in June 2010 in which Nanoco is creating a bespoke nanomaterial-based solar ink. This solar ink is being printed using techniques developed by Tokyo Electron to produce a solar film with the ultimate objective of producing a low cost, highly efficient solar cell.

Nanoco will receive milestone payments under this third phase of development work and will continue to focus on improving the performance of the film.

Michael Edelman, Nanoco's Chief Executive Officer, commented: "We are delighted to sign this follow-on agreement with Tokyo Electron after achieving all milestones to date. We have been particularly pleased with the steadily increasing efficiency of our bespoke nanomaterial-based solar ink and we will continue to work on performance improvements during the coming months. We remain confident that our nanomaterials have the potential to deliver a low cost, commercial solar cell to overcome the financial challenges faced by the solar power sector."

For further information, please contact:

Nanoco	Tel: [phone]
Michael Edelman, Chief Executive Officer
Colin White, Chief Financial Officer
Bank of America Merrill Lynch - Joint Broker	Tel: [phone]
Matthew Blawat
Canaccord Genuity - Nomad and Joint Broker	Tel: [phone]
Simon Bridges
Cameron Duncan
Buchanan	Tel: [phone]
Mark Court / Fiona Henson / Sophie Cowles

Notes for editors:

About Nanoco Group plc

Nanoco is a world leader in the development and manufacture of commercial quantities of quantum dots for use in multiple applications including lighting, solar cells and biological imaging. Nanoco's quantum dots, which are free of heavy metals and comply with RoHS legislation, can be combined into a wide range of materials including liquids, polymers and glass. Nanoco forms strategic partnerships with major end users across a range of applications.

Nanoco was founded in 2001 and is based in Manchester, UK. Nanoco began trading on the AIM market of the London Stock Exchange in May 2009 under the ticker symbol NANO. For further information, please visit www.nanocogroupplc.com.

 

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