Nanoco has announced this morning that it has filed a lawsuit against South Korean multinational, LG Technologies.
The Runcorn-based manufacturer of quantum dot technology alleges that LG “has wilfully infringed on a number of its patents related to the use of its cadmium free quantum dots in its televisions.”
Quantum dots are a nanomaterial 1000 times smaller than a human hair that significantly enhance the colour and gamut visible to the human eye when light is shone through them.
This kind of technology usually contains cadmium, a toxic heavy metal. Nanoco, however, has pioneered the use of cadmium free quantum dots, developing and patenting a method for mass-producing cadmium free quantum dots through its “seeding” methodology.
These patents were validated by the US Patent Trials and Appeals Board, during an earlier Nanoco lawsuit against Samsung between 2020-2023.
It settled its claim against Samsung in January 2023 for $150m.
READ MORE – Nanoco wins “transformative” $150million settlement
“Nanoco proved the value and validity of its IP as part of the Samsung litigation process. At that time, we re-iterated our intent to aggressively pursue other potential infringers of our IP to ensure a fair outcome for shareholders of Nanoco,” said Dr Jalal Bagherli, Nanoco’s Chairman.
“While there is potential for damages, litigation itself carries considerable inherent risk and the Board must weigh the opportunity versus the cost. In this instance, we believe the potential return to be worth the costs of commencing litigation.
“Nanoco continues to remain open to finding a mutually acceptable commercial solution, but the action is appropriate to take at this time in the best interest of the Company and its shareholders, to defend one of our core assets.”
The claim of “wilful” infringement by LG means that: “LG both infringed on Nanoco’s intellectual property and was aware that it was doing so.”
Nanoco stated that it had not attributed to a value to its claims against LG.
LG has not yet released a statement.
