A research team lead by Professor Sandra Rosenthal at Vanderbilt University has developed nanocrystals (~2 nm diameter) that emit white light with very high quantum efficiency. This technology would be a viable cost effective candidate for commercial solid-state lighting applications, such as Light Emitting Diodes (LEDs). These nanocrystals were originally discovered by the same group in 2005; a recent breakthrough in post-treatment results in improving fluorescent quantum yield up to ~ 45%.
