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. 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.

—Sri Peruvemba, CEO of Quantum Materials

The Company realized a small revenue contribution from this project in fiscal year 2016 that ended 30 June.