07.22.16
Nanoco Group plc and Wah Hong Industrial Corporation, a leading Taiwanese manufacturer and supplier of optical films, jointly announce that they have signed a supply and license agreement in the display sector.
Under the terms of the agreement, Nanoco will supply cadmium-free quantum dot resin, manufactured at the company’s plant in Runcorn, UK. Wah Hong will process the resin and then market it to its existing customer base in the display industry. Nanoco will manufacture red and green cadmium-free quantum dots on the existing production lines at its Runcorn facility.
This agreement marks the first to be signed by Nanoco since the company adopted a non-exclusive strategy for the commercialization of its technology in the display industry.
Wah Hong has a large operational footprint across China, Taiwan and Southeast Asia and is one of the world’s largest manufacturers of optical films and sheets for displays. Wah Hong has already received significant interest from its display customers following the pre-marketing of Nanoco cadmium-free quantum dot product.
The financial details of the supply and licence agreement are confidential, but Nanoco will receive an upfront payment, payment for delivery of quantum dot resin and a royalty on Wah Hong’s sales of processed resin. The agreement does not materially affect Nanoco’s expected outcome for the current financial year.
In line with Nanoco’s strategy, the agreement is non-exclusive. It runs for an initial seven-year period until Dec. 31, 2023, after which it is renewable by agreement.
“We are very excited about signing this agreement with Nanoco because it gives us the opportunity to provide our customers with Nanoco cadmium-free quantum dot product, which is the most advanced material for next generation LCD displays,” said C.P. Yeh, Wah Hong Industrial Corporation’s president, said. “Display makers in East Asia are increasingly aware of the hazards of cadmium and we believe that this cadmium-free product will be an important driver of growth to complement our existing product range.”
Under the terms of the agreement, Nanoco will supply cadmium-free quantum dot resin, manufactured at the company’s plant in Runcorn, UK. Wah Hong will process the resin and then market it to its existing customer base in the display industry. Nanoco will manufacture red and green cadmium-free quantum dots on the existing production lines at its Runcorn facility.
This agreement marks the first to be signed by Nanoco since the company adopted a non-exclusive strategy for the commercialization of its technology in the display industry.
Wah Hong has a large operational footprint across China, Taiwan and Southeast Asia and is one of the world’s largest manufacturers of optical films and sheets for displays. Wah Hong has already received significant interest from its display customers following the pre-marketing of Nanoco cadmium-free quantum dot product.
The financial details of the supply and licence agreement are confidential, but Nanoco will receive an upfront payment, payment for delivery of quantum dot resin and a royalty on Wah Hong’s sales of processed resin. The agreement does not materially affect Nanoco’s expected outcome for the current financial year.
In line with Nanoco’s strategy, the agreement is non-exclusive. It runs for an initial seven-year period until Dec. 31, 2023, after which it is renewable by agreement.
“We are very excited about signing this agreement with Nanoco because it gives us the opportunity to provide our customers with Nanoco cadmium-free quantum dot product, which is the most advanced material for next generation LCD displays,” said C.P. Yeh, Wah Hong Industrial Corporation’s president, said. “Display makers in East Asia are increasingly aware of the hazards of cadmium and we believe that this cadmium-free product will be an important driver of growth to complement our existing product range.”