Nano tech firm in solar deal

Manchester based Nanoco Group today announced its first deal in the solar energy sector.

The AIM-quoted company has signed a joint development agreement with Tokyo Electron, the major Japanese production equipment supplier, for the development of a solar photovoltaic nanomaterial film.

The University of Manchester spin-out already supplies quantum dots to makers of LED televisions but this is its first commercial deal with a maker of material which converts sunlight into electricity in solar panels.

Nanoco said it would develop a solar-active nanomaterial film for incorporation into Tokyo Electron's solar cell manufacturing equipment.

It will get upfront and milestone payments during the nine-month development phase after which it expects to sign a supply and license agreement.

Michael Edelman, Nanoco's chief executive, said: "We are delighted to enter this agreement with Tokyo Electron, marking our first commercial relationship in the solar energy sector. We are confident that our nanomaterial technology has the potential to deliver highly efficient, printable, solar-active films and look forward to working with Tokyo Electron in making these commercially available."