Manchester University spinout Nanoco Group plc has settled its legal action with LG.

The listed Runcorn firm develops and manufactures cadmium-free quantum dots and other nanomaterials. These are used in monitors, TVs and infra-red sensors.

In 2023 it won $150m in a legal dispute with Samsung, settling on a no fault basis for the alleged infringement of the group’s intellectual property. In February this year it commenced litigation against another multinational electronics corporation in LG Technologies, alleging that it has willfully infringed on a number of its patents in production of its televisions.

This morning it said the gross amount agreed to be paid by LG to Nanoco is $5m. Litigation costs incurred by Nanoco to date total $600,000.