Nanoco chairman hails progress
Nanoco Group's chairman Peter Rowley has hailed the company's progress as it continues to commercialise its quantum dots and nanomaterials technology.
"The current financial year is proceeding well," Rowley is set to tell shareholders later today. "We continue to make good progress with our commercial relationships, our technology, our manufacturing capability and our company infrastructure."
The business reported a pre-tax loss of £3.2m in the year to 31 July 2011, compared with a loss of £1.4m last year. Revenues for the same reporting periods also fell from £2.94m to £2.64m.
But Rowley added: "In our commercial relationships we are making good progress across our LED and solar projects, including the final stages of development of green quantum dots for a major Japanese corporation. In addition, we are in discussions with further potential commercial partners.
"To accommodate our increasing level of activity we recently signed a lease to a further 12,500 sq ft of laboratory space at our Manchester head office. We have also recently received planning permission for the Kilo Lab production facility in Runcorn."
