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HOW often do you see something hing online, buy it and then find out the colour is quite different from what you saw on screen? The difference nce can be infuriating and it is caused used because most TVs, computers and mobile phones cannot display certain colours with accuracy.
Nanoco Group, a small, high-tech company based in Manchester, has worked out how to solve the problem, using nanomaterials that display light more effectively than han any other products on the market rket and use less energy in the process. ess.
The shares are 44p and could uld increase substantially in value this year and beyond as Nanoco’s technology is increasingly put into practice.
Spun out of Manchester Univerversity in 2001, the company has spent pent years developing its nano-knowlowledge and now leads the world d in the development and manufacture ture of light-focused nano particles.
The firm originally focused on improving clarity for screens – from smart watches to 100-inch televisions. Here, the group’s kit does not just make colours brighter; it also prolongs the battery life on devices such as phones and tablets.
Over time however, Nanoco realised its technology could be used in other areas too. In driverless cars, Nanoco’s materials make sensors more accurate and therefore safer. As the technology uses around 30 per cent less energy than rival products, electric cars can be driven for longer too.
In healthcare, the firm is trialling nano-particles to improve cancer survival rates. First the particles can be injected into a patient before surgery, lighting up tumours so doctors can see exactly where and how to operate. The particles may also be able to detect early-stage cancer and tests are taking place around pancreatic cancer, one of the deadliest strains.
Nanoco’s nanomaterials can even be used in farming, particularly ‘vertical farming’ where crops are grown in vertically stacked layers, with light, heat and nutrients all rigorously controlled.
The approach means that food can be cultivated in city buildings and crops grow faster, especially salad greens, such as lettuce and cress, and cannabis, where it is legal. Nanoco is working with pioneers in this area, as its lighting know- how i s so f ar ahead of the pack.
Like many technology firms, Nanoco’s biggest challenge has centred on commercialising its work before running out of money. Having been through some tough periods, the group now seems more likely than ever before to achieve its goal.
Chief executive Michael Edelman and his team are working with more than 20 large, international businesses, including electronics specialist Plessey and chemicals giant Dow Chemicals. An unnamed American group is a firm fan too, having paid Nanoco more than £4 million over the past year, as it achieved certain milestones. The US corporation has also funded a substantial manufacturing facility for Nanoco, expected to start commercial production in the second half of this year and based in Runcorn.
In the year to July 2017, Nanoco delivered a turnover of £1.6 million. The figure more than doubled to £3.5 million last year, it is expected to double in the current year and again in the 12 months to July 2020. Like many early-stage tech companies, Nanoco is loss- making but there is cash in the bank and profits should start to trickle through within a couple of years.
Edelman is also in active discussions with several new partners.