14th Jun 2016 09:05
LONDON (Alliance News) - Nanoco Group PLC noted a report prepared by the Oeko-Institut for the European Commission recommending a three-year exemption to the commission's Restriction of Hazardous Substances Directive for quantum dots containing cadmium in display products.
The report did, however, recommend there be no exemption made for quantum dots using cadmium in lighting applications.
This is a key issue for Nanoco, as whilst the European Commission currently restricts the use of the heavy metal cadmium in quantum dots, it is currently considering an exemption to allow its use for a limited period. Nanoco's quantum dots do not contain the heavy metal.
Nanoco said Tuesday the Oeko-Institut report contains "many apparent contradictions and anomalies" compared to a report from the same consultancy in 2014.
The recommendations in the report are not legally binding, but will be considered as part of the consultation process by the European Commission.
"We are studying this report closely and will respond to it as we see appropriate. There is no doubt that the recommendation for a new exemption for displays is retrogressive as cadmium-free quantum dots are in large-scale commercial production and TVs that use cadmium-free quantum dots are widely available," said Chief Executive Officer Michael Edelman in a statement.
"Of prime importance, and irrespective of European legislation, is that display makers themselves are choosing cadmium-free because of their commitment to developing products with a long-term and sustainable future," Edelman added.
Shares in Nanoco were down 3.3% at 39.88 pence Tuesday.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
Copyright 2016 Alliance News Limited. All Rights Reserved.
Related Shares:
Nanoco