27th Sep 2013 10:15
LONDON (Alliance News) - Nanoco Group PLC Friday said it had completed the expansion of its cadmium-free quantum dot production facility in Runcorn and had amended the terms of a licensing deal it has with The Dow Chemical Company.
The company expanded its Runcorn plant by installing two more semi-tech lines at a cost of GBP1.25 million.
The terms of the Dow Chemical deal were amended so that Nanoco is no longer required to contribute to the production plant Dow is preparing to build in Asia but it will get a lower royalty rate as a result.
Dow holds exclusive worldwide rights for the sale, marketing and manufacture of Nanoco's cadmium-free quantum dots for use in electronic displays.
It didn't disclose financial details of the amended agreement, but said it doesn't contain any specifics on price and volume as these are set in commercial negotiations with clients.
"Dow and Nanoco have committed additional resources to accelerate commercialisation and full production under the licensing agreement is expected to begin in the first half of 2014," Nanoco said in a statement.
Nanoco shares were down 3.9% at 172 pence Friday morning.
By Steve McGrath; [email protected]; @SteveMcGrath1
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