The market for Ultra High Definition televisions has led to a successful financial year for Manchester’s Nanoco Group PLC.

The company develops and manufactures cadmium-free quantum dots (CFQD) and other nano materials, which can be found in visual displays.

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According to forecasts, 26m displays will be equipped with quantum dots by 2021, with more than 90% of the market using CFQD technology, as cadmium is phased out through regulation.

The firm said it has a “competitive lead” in Taiwan and China, where display and television manufacturers are now actively looking for CFQD solutions.

In May 2017 Nanoco signed a collaboration and joint development agreement with Kyulux Inc, which will combine its CFQDs with Kyulux technology to create future generation OLED/QLED display technology.

Headquartered in Manchester, the firm has production facilities in Runcorn, and a US subsidiary in Massachusetts.