A Perth tech company Dotz Nano has made a stunning ASX debut with its shares reaching more than double their issue price on the company’s first day of trade.
The company, a backdoor listing through the shell of former explorer Northern Iron, focuses on the development, manufacture and commercialisation of Graphene Quantum Dots (GQDs).
The company raised $6 million at 20 cents a share. Its shares hit an intraday high of 49 cents before retracing to close up more than 75 per cent at 36.5 cents.
GQDs are nanoparticles which have applications in LED displays, pigments, dyes and detergents as well as energy, electrical and medical applications.
Non-graphene derived quantum dots are already widely used in products such as high-definition TVs, medical imaging and lighting products. However they have limited applications because of their toxicity and production costs.
Dotz Nano said it had exclusive capabilities to extract GQDs from coal rather than graphite, allowing it to produce inexpensive, non-toxic GQDs at ten times the production yield of conventional GQDs.
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The company said its patented technology was developed by Professor James Tour of the William Marsh Rice University in Houston, Texas. It also has a strong partnership with the Ben-Gurion University in Israel.