Dow to sell, market and manufacture cadmium-free quantum dots for LCD displays23/01/2013 Manchester
Philadelphia, PA and Manchester, UK,January 23, 2013 - Dow Electronic Materials, a business unit of The Dow Chemical Company (NYSE: DOW) and Nanoco Group plc (AIM: NANO) today announced they have entered into a global licensing agreement for Nanoco's cadmium-free quantum dot technology. Under the terms of the agreement, Dow Electronic Materials will have exclusive worldwide rights for the sale, marketing and manufacture of Nanoco's cadmium-free quantum dots for use in electronic displays.
The agreement brings together Nanoco's world-leading technology with Dow's large-scale manufacturing capability and well-established sales, marketing and distribution network. Dow Electronic Materials is already a major supplier of critical electronic materials to the global display industry.
The financial details of the agreement are not being disclosed though Nanoco will receive royalty payments related to Dow's sales of cadmium-free quantum dots. Nanoco will continue to provide any technology advances to its cadmium-free quantum dot technology throughout the lifetime of the agreement and participate with Dow in the marketing and technical support of these materials.
Dow intends to build production capacity in Asia where it has extensive manufacturing capabilities to supply high-performance materials to its customers in the display and semiconductor-related segments. Full commercial production is expected to begin in the first half of 2014.
"We believe that Nanoco's cadmium-free quantum dots will become a new standard in the display industry owing to their ability to significantly improve the color performance of LCD displays both cost-effectively and by avoiding the use of heavy metals," said C.G. Park, Global Business Director, Dow Electronic Materials. "When coupled with Nanoco's technology, Dow's deep technical, engineering and industry knowledge in films, LCD, LED, and OLED display segments brings our customers an unmatched portfolio of materials solutions."
Michael Edelman, Nanoco's Chief Executive Officer, commented: "We are delighted to sign this agreement with Dow Electronic Materials. This agreement is transformational for the quantum dot industry and a significant endorsement of Nanoco's cadmium-free quantum dot technology. With Dow's production expertise and deep customer relationships, display makers can begin to plan their quantum dot production requirements with further confidence."