Nanodot tech firm in expansion at Heath
ACOMPANY that manufactures ‘quantum dots’ and nanomaterials for high-tech screen displays is expanding its Runcorn operation after signing a deal with a large undisclosed US corporation.
Nanoco, which has its UK headquarters in Manchester, is to take over an extra 10,000 square feet (sq ft) of space for laboratories, offices and storage at its base at Heath Business And Technical Park.
The expansion will multiple the firm’s existing site at the Heath, which covers 3,000 sq ft of floor space.
Due to ongoing growth the company now needs to ramp up its capacity to meet the demand for its cadmium-free quantum dots in markets including Japan, China and the USA.
Heath Business Park owner SOG has provided a technical team to design and refurbish the required building, including the installation of fume cupboards, gas and air-handling facilities and mechanical and electrical services.
Nanoco’s incoming American client will fund the capital expenditure required to expand its Runcorn facility.
An SOG spokesman said the commercial terms include payments for success based milestones, and commercial supply of materials, both of which will strengthen Nanoco’s balance sheet.
The facility is due to open in July and supply anticipated to begin in early 2019.
Nanoco’s products are used in LCD televisions, monitors and lighting systems.
John Lewis, SOG’s Managing Director, says: “We are delighted that Nanoco is extending its operations with this exciting new research and development and manufacturing facility which will provide more highly skilled jobs.
“This is excellent for The Heath and is a boost to the further development of high-tech business in Halton.
“It is another excellent example of businesses operating at The Heath who have been able to secure overseas investment to fund their expansion here.
“Nanoco is supplying its unique product to a global market and this is really positive news not only for the Runcorn economy but for the entire North West region.”
Michael Edelman, Nanoco chief executive, said: “This transaction not only exemplifies the potential of our technology, but also the recognition that Nanoco can continue to pursue broad partnerships in diverse markets.
“Our deep expertise in the develop- ment and mass production of highly differentiated nanoparticles has enabled us to create partnerships, and future revenue streams, with partners around the globe.” ●