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Nanoco Climbs in London After Announcing Development Agreement

Nanoco Group Plc (NANO), a U.K. maker of nanocrystals for solar cells and light-emitting diodes, rose 3.2 percent in London after saying it signed a product development agreement that provides an initial payment of $800,000.

The shares climbed as much as 2.5 pence to 80 pence, their high for the day, as of 4:19 p.m. local time.

“Following the successful completion of its material joint development agreement with a major Japanese electronics company, Nanoco has signed a follow-on product development agreement,” the company said today in a statement, without naming its partner.

Nanocrystals, also known as quantum dots, are tiny particles of a semiconductor material that have different optical properties than traditional semiconductors.

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