Nanoco Reports "Very Significant" Display Progress

LONDON--Nanoco Group PLC (NANO.LN), a developer of semiconductor particles called quantum dots, Thursday reported "very significant progress" in marketing its dots for the display industry, and said its partner Dow Chemical Co. (DOW) is currently commissioning a production plant in South Korea.

LG is the only display customer Nanoco has confirmed so far. Shares have declined steadily in recent months, dropping 46% from highs of 139 pence touched in March to 75 pence at yesterday's close.

"In total, Nanoco is actively working with 11 display OEMs, ranging from major multi-national companies, such as LG Electronics, to emerging consumer electronics brands," the company said.

"The work is focused on the incorporation of Nanoco's cadmium-free quantum dots into the OEM customers' display products, predominantly large screen televisions but also tablets and other devices," it added.

Nanoco recently said it is stepping-up its efforts to commercialize applications of its technology in the lighting industry.

At 0814 GMT, shares tarded three pence or 4% higher at 79 pence.

Write to Ed Ballard at [e-mail]

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