Nanoco Group, the Alternative Investment Market-quoted maker of ‘quantum dots’, has signed a deal with Tokyo Electron to develop a solar photovoltaic nanomaterial film.
So far, the Manchester University spinout’s nano-crystalline particles – which have unique chemical, electronic and optical properties thanks to their small size – have been developed for use in light emitting diodes (LEDs) for energy-efficient lighting and display applications. However, the deal with Tokyo Electron – a Japanese production equipment manufacturer – marks Nanoco’s first commercial relationship in the solar energy sector.
Nanoco has previously stated that initial research has shown the use of quantum dots in photovoltaic materials can potentially improve sunlight conversion efficiencies to 40%-plus, compared to the 10-20% levels typically seen in today’s commercial photovoltaic devices.
The deal will see Nanoco develop a ‘solar-active’ nanomaterial film for incorporation into Tokyo Electron’s solar cell manufacturing equipment. Nanoco will receive upfront and milestone payments during an initial nine month development phase, after which it is expected that a supply and licensing agreement will be signed.
“We are confident that our nanomaterial technology has the potential to deliver highly efficient, printable, solar-active films and look forward to working with Tokyo Electron in making these commercially available,” said Michael Edelman, Nanoco’s chief executive officer.
Market: AIM
Symbol: NANO
Price: 83p
Market Cap: £153m
12 month high/low: 113.25p/36.5p
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