Nanoco makes bright start

28th Oct 2009 14:08

Lighting technology company Nanoco said its new financial year has started well and it is well advanced in its programme to produce its first kilograms of quantum dots.Quantum dots are used in multiple applications including lighting, solar cells and biological imaging.The company, which was floated on AIM in May 2009, saw revenue in the year to the end of July 2009 rise to £1.99m from £1.08m a year earlier. Loss before tax widened to £0.78m from £0.70m.Cash and cash equivalents at the end of the reporting period totalled £6.59m, up from £2.53m a year earlier.'Our strategic relationships are also progressing well, and we anticipate the receipt of further milestone payments during the current half,' said Dr. Peter Rowley, Nanoco's chairman.