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Nanotechnology specialist Nanoco Group has announced that it has hit a performance milestone for a major Japanese corporation which has triggered a milestone payment of $1m. The company makes quantum dots which can be exploited for use in television and next generation lighting. It produced green quantum dots which gave a performance life of at least 50,000 hours to trigger the payment. Nanoco will now begin production of a 1kg batch of the green quantum dots for the customer. Once produced, and validated by the customer, the 1kg batch will attract a further $2m milestone payment. The performance milestone for the green quantum dots follows the successful production last year of a 1kg batch of red quantum dots for the same customer. The customer's intention is to combine the red and green quantum dots with blue LEDs to produce a highly efficient source of white light for multiple potential applications, including backlighting for LCD displays and LED-based general lighting. Michael Edelman, Nanoco's chief executive officer, said: "We are delighted to have demonstrated that the performance of these green quantum dots meets our customer's specification as it marks an important step towards the customer's launch of a marketed product."
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