Further agreement with Tokyo Electron20/12/2012 Tokyo
Nanoco Group plc(AIM: NANO), a world leader in the development and manufacture of cadmium-free quantum dots and other nanomaterials, announces that it has signed a follow-on agreement with Tokyo Electron, the major Japanese equipment supplier, for the on-going development of a nanomaterial-based solar film.
This agreement, which runs until September 2014, represents the third phase of a joint development agreement (JDA) initially signed in June 2010 in which Nanoco is creating a bespoke nanomaterial-based solar ink. This solar ink is being printed using techniques developed by Tokyo Electron to produce a solar film with the ultimate objective of producing a low cost, highly efficient solar cell.
Nanoco will receive milestone payments under this third phase of development work and will continue to focus on improving the performance of the film.
Michael Edelman, Nanoco's Chief Executive Officer, commented: "We are delighted to sign this follow-on agreement with Tokyo Electron after achieving all milestones to date. We have been particularly pleased with the steadily increasing efficiency of our bespoke nanomaterial-based solar ink and we will continue to work on performance improvements during the coming months. We remain confident that our nanomaterials have the potential to deliver a low cost, commercial solar cell to overcome the financial challenges faced by the solar power sector."