Nanoco Group plc (LON:NANO), a world leader in the development and manufacture of cadmium-free quantum dots and nano-materials, announced today the launch of Nanoco 2D Materials Ltd “2D Materials”, a wholly owned subsidiary focused on the development and commercialisation of a new generation of nano-materials.
Two dimensional nano-particles are a platform technology which are one or two atoms thick and a few nanometres wide and represent a burgeoning field of material science. Currently there is no cost-effective way to produce these 2D materials on a commercial scale nor any reliable method to ensure consistent properties suitable for the wide range of potential electronics, industrial and other applications.
For the past year Nanoco has been collaborating with Professor Novoselov, 2010 winner of the Nobel Prize for Physics for his work on graphene, with the goal to establish feasibility for these exciting new materials. Based on the positive results seen to date, 2D Materials has been created to formalise the partnership between the two groups, ensure funding is in place and continue the development of the technology.
The £400,000 funding comes from The University of Manchester in the form of a 10-year convertible loan note which carries a 6.5% coupon.
Dr Nigel Pickett, CTO and co-founder of Nanoco Group Plc, said: “By combining Nanoco’s expertise with the knowledge base from Professor Novoselov’s lab we have been able to push the boundaries of material science to come up with a new generation of versatile 2D nano-particles and are now utilising Nanoco’s 15 years of scale-up expertise on methods to produce them at commercial scale. Potential commercial applications for these materials span across a wide range of sectors including novel catalysts, photo-detectors, photovoltaics, inverters and light emitting devices.”
Professor Novoselov added: “It is exciting to see how quickly 2D materials, beyond graphene, has accelerated from the early research stage to the technology we now have. Working with a very knowledgeable and dedicated Nanoco team continues to be a very refreshing experience. The ability of our combined teams to focus on particular technological and performance parameters is allowing the rapid development of these 2D Materials.”
Clive Rowland, CEO of the University’s innovation company UMI3, commented: “Part of the University’s strategy for commercialising graphene and its sister 2D materials is to work with existing companies and entrepreneurs to help them set-up R&D centres and new companies close to the campus to create a technology innovation ecosystem here – Graphene City®. I’m delighted that we are working with Nanoco, which itself is a spin-out from the University. Its experience in the handling and scaling up of nanomaterials and access to its relevant facilities were key factors in us deciding to support this initiative.”
About the convertible note:
The £400,000 funding comes from The University of Manchester in the form of a 10-year convertible loan note which carries a 6.5% coupon. Interest payments are accrued until conversion or repayment of the loan takes place. The loan note is convertible into new shares of 2D Materials and any conversion event is dependent on an additional £1m of third party investment into 2D Materials or sale or flotation of 2D Materials.
