LONDON (ShareCast) - (ShareCast News) - Manchester based nanomaterials firm, Nanoco said that solid advances towards commercialisation of its technology throughout the year had led to revenues and other operating income staying in line with board expectations.
Nanoco, which creates cadmium-free quantum dots (CFQD) for use in LCD displays, solar cells, and bio-imaging technology, received its first commercial orders for the supply of its CFQD resin in the half from Taiwanese listed firm, Wah Hong.

According to IHS Markit forecasts, by 2021 quantum dot technology will be included in more than 26m displays, with more than 90% of those being cadmium-free.

Regulatory changes have restricted the use of cadmium in display units, leading several major Asian manufacturers to look for alternative solutions, giving Nanoco a significant head start.

As of 31 July, the group had £5.7m of unaudited cash on its balance sheet, down from the £14.5m it showed the same time last year, however, this remained within the expectations made by the board.

As of 0915 BST, shares had dipped 7.15% to 27.07p.

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