It’s the next step in innovation to brighten up your world — or at least your TV screen. That innovation is called quantum dots, which are nano particles that can absorb light and emit specific colors based on their wavelength, essentially producing brighter and more accurate hues. Samsung and Sony are already using the technology for their QLED and Triluminos TV displays. Australian firm Dotz Nano is taking it one step further, however, claiming to be the only company with the technological prowess to extract quantum dots from coal. “Previously, graphene quantum dots which come from graphite is very expensive and very difficult to produce. Our process makes graphene quantum dots from coal which is very inexpensive, very easy to use and makes it very cost effective for use in a variety of applications,” Moti Gross, CEO of Dotz Nano, told CNBC. “We’re able to extract that from coal. Simple, pure, energy burning coal,” he added. Quantum dots can be produced out of cadmium and other heavy metals, but that process may risk higher toxicity. Dotz Nano, which raised 6 million Australian dollars (US$4.56 million) in its IPO last November, said it is able to produce ten times the usual amount of quantum dots in an eco-friendly way. The firm is collaborating with Singapore’s Nanyang Technological University to establish a 20 million Singapore dollar (US$14.32 million) research centre. As part of its research, the company is looking for more uses for quantum dots. “It’s going to be able to be used in applications like optical brighteners, ... laundry detergents, I.T. security applications, tagging of liquids, doing anti-counterfeiting applications with olive oil and crude oil and petroleum products,” said Gross. To put things in perspective, one gramme of quantum dots is enough to tag 10,000 casino chips, he said. Follow CNBC International on Twitter and Facebook .