LONDON (ShareCast) - Britain-based nanotechnology company Nanoco said the production of quantum dots at its partner Dow Chemical's plant in South Korea was expected to start in the first half of 2015.
Dow said it would start construction of the plant to make cadmium-free quantum dots employing Nanoco's technology at its Cheonan site, which highlights the increasing customer demand for Nanoco products.

The start of production will trigger a milestone payment from Dow to Nanoco, the Manchester-based group added.

"We are delighted that demand for Nanoco's cadmium-free quantum dots is at a point where Dow will begin construction of a large-scale manufacturing plant in South Korea based on our novel manufacturing process," said group chief executive Michael Edelman.

Semiconductor crystals such as cadmium-free quantum dots can be used in solar cells, biological imaging and in the production of display screens such LED TVs.

Analysts said Nanoco was on the verge of securing a major growth in revenue within the next three years.

"We believe Nanoco is today on the threshold of major growth in its revenues, earnings and cash flows," Liberum analysts Eoin Lambe and Janardan Menon said in a note.

"We currently forecast revenues to rise from £5m in the 2015 financial year to £51m by the financial year 2017."

Nanoco shares soared 23.32% to 146.75p at 11:52 on Wednesday.

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