MANCHESTER, England & CONCORD, Mass.--(BUSINESS WIRE)--Nanoco Group plc (LSE: NANO), a world leader in the development and manufacture of cadmium-free quantum dots and other nanomaterials, is pleased to announce that its ordinary shares began trading on the Main Market of the London Stock Exchange today at 8:00 a.m. BST. The commencement of trading on the Main Market is the final condition for the completion of the Placing, initially announced on March 31 2015, of 19,047,619 new ordinary shares raising more than $30 million (£20 million) to further the Company’s business expansion. The commencement of trading on the Main Market is simultaneous with the cancellation of the Company’s shares on AIM.
“Nanoco’s transition from AIM to the Main Market comes at an exciting point in the Company’s development and marks an important step toward our goal of becoming a leading, global, materials science business,” said Michael Edelman, CEO, Nanoco. “The proceeds enable us to accelerate the commercialization of our technology through further R&D and the formation of four distinct business divisions focused on our key target markets of electronic display, LED general lighting, solar power and biological imaging.”
The proceeds will also be used to support increased capacity and continued optimization of Nanoco’s cadmium-free quantum dot (CFQD® quantum dot) production processes, broaden the Company’s research capabilities in solar and enhance the Company’s intellectual property portfolio.
2015 has been a significant year for Nanoco’s cadmium-free quantum dot technology in the display market – the first commercial products to incorporate the Company’s technology were announced at the Consumer Electronics Show. “We are very excited by our commercial progress in the display market. We expect the first LCD TVs to incorporate our technology to be launched in the near future and our worldwide licensing partner Dow Chemical is close to commissioning its mass production plant in South Korea, where Nanoco quantum dots will be manufactured in much larger quantities,” continued Edelman.
Nanoco (LSE: NANO) is a world leader in the development and production of cadmium-free quantum dots and other nano-materials for use in multiple applications including lighting, LCD displays, solar cells and bio-imaging. In the display market, it has an exclusive manufacturing and marketing licensing agreement with The Dow Chemical Company.
Nanoco was founded in 2001 and is headquartered in Manchester, UK. It has production facilities in Runcorn, UK, and a US subsidiary, Nanoco Inc, based in Concord, MA. Nanoco also has business development offices in Japan, Korea and Taiwan. Its technology is protected worldwide by a large and growing patent estate. For further information please visit: www.nanocogroup.com.