LONDON (ShareCast) - Nanoco Group's share price rose more than 20 per cent on Wednesday following an announcement that the company had entered into a global licensing agreement with Dow Electronic Materials, a business unit of the Dow Chemical Company.

Under the terms of the deal, Dow Electrical Materials will have exclusive 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 technology with Dow's manufacturing capability and 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 were not disclosed though Nanoco is expected to receive royalty payments related to Dow's sales of cadmium-free quantum dots.

Michael Edelman, Nanoco's Chief Executive Officer, commented: "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."

Nanoco Group's share price was up 23.01% to 135p at 09:25 on Wednesday morning.

MF

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