Quantum Materials, E&P Technology Business to Develop Nanomaterials for Optimizing Oil and Gas Well Production

Leading North American quantum dot manufacturer Quantum Materials Corporation 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.