For immediate release |
14 June 2016 |
NANOCO GROUP PLC
("Nanoco" or the "Company")
Notes Publication of Oeko-Institut Report
Nanoco Group plc (LSE: NANO), a world leader in the development and manufacture of cadmium-free quantum dots and other nanomaterials, notes publication of the latest report sponsored by the European Commission on the use in Europe of quantum dots that contain the hazardous substance cadmium.
The report, prepared by the Oeko-Institut for the European Commission, is available at the following link: http://rohs.exemptions.oeko.info/fileadmin/user_upload/reports/20160602_Final_Report_RoHS_Pack_10_Cd_QDs_amended.pdf.
The report, entitled Assistance to the Commission on Technological Socio-Economic and Cost-Benefit Assessment Related to Exemptions from the Substance restrictions in Electrical and Electronic Equipment (RoHS Directive), recommends no exemption for the use of cadmium-containing quantum dots in lighting applications and a three year exemption to the Restriction of Hazardous Substances Directive (RoHS) to allow the use of cadmium-containing quantum dots in display products.
The report contains many apparent contradictions and anomalies when compared with the version prepared by the same consultancy and published in 2014. The display recommendation is in conflict with an overwhelming vote last year by Members of the European Parliament to ban the use of cadmium in quantum dots. MEPs voted 618-33 against an exemption for cadmium-containing quantum dots.
The recommendations in the Oeko-Institut report are not legally binding but form part of a lengthy process of consultation during which the report's findings will be evaluated by the European Commission, Member States and the European Parliament. This consultation will need to consider whether the use of cadmium can be justified as, to quote the report, "it is beyond the scientifically based assessment mandate of the exemption evaluation to conclude whether the use of a RoHS restricted substance to enable a certain function or property is an acceptable cost".
Michael Edelman, Nanoco's Chief Executive Officer, commented: "We are studying this report closely and will respond to it as we see appropriate. There is no doubt that the recommendation for a new exemption for displays is retrogressive as cadmium-free quantum dots are in large-scale commercial production and TVs that use cadmium-free quantum dots are widely available. It is difficult to appreciate why the recommendations in this new report contradict the recommendations made by the same consultancy in its 2014 report, particularly in the light of the commercial success of cadmium-free alternatives.
"Of prime importance, and irrespective of European legislation, is that display makers themselves are choosing cadmium-free because of their commitment to developing products with a long-term and sustainable future."
For further information, please contact:
Nanoco |
Tel: +44 (0) 161 603 7900 |
Michael Edelman, Chief Executive Officer |
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David Blain, Chief Financial Officer Caroline Watson, Investor Relations Manager [email protected] |
Tel: + 44 (0) 7799 897357 |
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Canaccord Genuity - Joint Broker |
Tel: +44 (0) 20 7523 8000 |
Simon Bridges Cameron Duncan |
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Mark Whitmore |
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Liberum - Joint Broker |
Tel: +44 (0) 20 3100 2000 |
Neil Patel |
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Richard Bootle Steven Tredget |
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Buchanan |
Tel: +44 (0) 20 7466 5000 |
Mark Court / Sophie Cowles / Stephanie Watson |
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Notes for editors:
About Nanoco Group plc
Nanoco is a world leader in the development and production of cadmium-free quantum dots and other nano-materials for use in multiple applications including LCD displays, lighting, solar cells and bio-imaging. In the display market, Nanoco has a non-exclusive manufacturing and marketing licensing agreement with The Dow Chemical Company. Nanoco also has a strategy of direct sales in display and in its other target markets, including lighting.
Nanoco was founded in 2001 and is headquartered in Manchester, UK. It has production facilities in Runcorn, UK, and a US subsidiary, Nanoco Inc, based in Concord, MA. Nanoco also has business development executives in Japan, Korea and Taiwan. Its technology is protected worldwide by a large and growing patent estate.
Nanoco is listed on the main market of the London Stock Exchange and trades under the ticker symbol NANO. For further information please visit: www.nanocogroup.com.
