Nanoco Group plc (AIM:NANO), a developer and manufacturer of cadmium-free quantum dots and other nanomaterials, announces that it has signed a follow-on joint development agreement with Osram, one of the world’s largest lighting companies, in connection with the use of Nanoco cadmium-free quantum dots in general lighting.

Quantum dots open up new potential for LED lighting – which currently lacks the same warmth and color performance of an incandescent bulb – and have the capacity to appeal to a new set of buyers who want the efficiency and economy of the LED, as well as the “effect” of natural light. To date, the use of quantum dots in lighting was hindered by the fact that the technology contained cadmium, a highly-regulated and toxic heavy metal. Nanoco’s technology, made without cadmium or any heavy metal, offers a sustainable solution.

“We’re delighted to sign this latest joint development agreement with Osram and believe in the great potential of our quantum dot technology in general lighting,” said Michael Edelman, CEO, Nanoco. “Since singing our initial development agreement with Osram, we’ve made technical progress towards the development of an LED incorporating cadmium-free quantum dots and offering substantially improved color performance.”

Nanoco has been working with Osram since 2011 with the objective of delivering LED lighting with superior performance characteristics. Considerable technical progress has been made to date in optimizing the method for incorporating Nanoco’s cadmium-free quantum dots with blue LEDs. This latest, 12-month agreement with Osram will further product development.