British nanotechnology company Nanoco has swung to a profit after shipping its first commercial orders and settling a major intellectual property (IP) lawsuit with Samsung.
Nanoco recorded an operating profit of £2.4m for the half-year ended January 2024, compared to a loss of £2.1m in the same period the previous year. This was due to the completion of its initial shipment of its first-generation materials used in cameras in November last year.
The Cheshire-based company produces quantum dots, tiny materials used in televisions, medical devices and facial recognition applications, among others. Nanoco is one of only a few companies globally capable of manufacturing quantum dots on a mass scale.
Nanoco Group PLC (LON:NANO) leads the world in the research, development and large-scale manufacture of heavy metal-free nanomaterials for use in displays, lighting, vertical farming, solar energy and bio-imaging.
