SAN MARCOS, Texas, Aug. 03, 2016 (GLOBE NEWSWIRE) -- Leading North American quantum dot manufacturer Quantum Materials Corporation (OTCQB:QTMM) today announced that the Company has partnered with a Texas-based E&P technology business and is currently developing specialized nanomaterials for use in oil and gas well production optimization. The project, which is nearing the completion of the initial phase, is targeting new materials which are expected to provide for safer and more efficient recovery of hydrocarbon resources.
“We are excited to be a part of this project which has the potential to bring a wealth of new information to the oil and gas industry,” said Sri Peruvemba, CEO of Quantum Materials Corp. “However more importantly to Quantum, the challenges of creating nanoparticles that can withstand the harsh downhole environment are leading us to discoveries that we can apply to make our quantum dots for use in displays and lighting more robust.”
The Company realized a small revenue contribution from this project in fiscal year 2016 that ended June 30.
Quantum Materials Corporation (QMC) develops and manufactures quantum dots and nanomaterials for use in medical, display, solar energy and lighting applications through its patented volume production process. QMC's volume manufacturing methods enable consistent quality and scalable cost reductions to drive innovative discovery to commercial success. The company’s technology continues to move the future of quantum dots to the present. QMC’s products are the foundation for technologically superior, energy efficient and environmentally sound LCD UHD displays, the next generation of solid-state lighting, solar photovoltaic power applications, advanced battery and energy storage solutions, biotech imaging, and biomedical theranostics. Wholly-owned subsidiary Solterra Renewable Technologies develops sustainable quantum dot solar technology.
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