GQDs are being developed for use in various applications including medical imaging, sensing, consumer electronics, energy storage, solar cells and computer storage.
Dotz Nano is in advanced negotiations to sign a full licensing agreement with Kyung Hee University related to this technology.
Initial research conducted by Kyung Hee University and Samsung Electronics Co in 2014 into the application of GQDs in flash memory was successful, but has not been taken any further.
With the introduction of Dotz Nano's GQDs from coal sources, the program was revisited and replicated with Dotz Nano coal based GQDs.
The latest proof of concept research was successful in proving that Dotz Nano's GQDs can be used in flash memory devices.
In the proof of concept research, graphene quantum dots of three different sizes (6, 12, and 27 nm diameters) were prepared between silicon dioxide layers.
As a flash memory device in its early stages of development, the graphene quantum dot memories demonstrated a promising performance.
Last year, Dotz Nano changed its name from Northern Iron after raising $6 million from a public offer in November 2016.
The company’s shares were last trading 8.2% higher intra-day on Friday, at $0.33.
Dotz Nano had a cash balance of $2.8 million as at 31 December 2016.