TIDMNANO
RNS Number : 6695X
Nanoco Group PLC
31 August 2022
FOR IMMEDIATE RELEASE 31 August 2022
Nanoco Group PLC
( " Nanoco", the " Group ", or the " Company")
Two Grant Funding Awards for Quantum Technology Projects
Nanoco Group plc (LSE: NANO), a world leader in the development
and manufacture of cadmium-free quantum dots and other
nanomaterials emanating from its technology platform, today
announces that it has secured grant funding from Innovate UK, the
UK's innovation agency, for two leading edge development projects
for novel nanomaterials that build on Nanoco's unique patented
technology:
-- The first covers the development of singly-doped colloidal
dots for potential use in quantum technology applications and has
been won in collaboration with The University of Manchester.
-- The second is to develop a new material set, based on
alternative chemical elements, for potential use in infra-red
sensing and other consumer electronics applications.
The two projects will last 18 and 12 months respectively and
will commence early in Nanoco's FY23. They will deliver funding to
Nanoco of around GBP0.3m in FY23 and around GBP0.2m in FY24. Any
medium term value implications of the projects will depend on the
research outcomes.
Brian Tenner, Nanoco's CEO, commented:
"These Innovate grants highlight Nanoco's position as the
leading edge developer of novel nano-materials for electronics
applications. The two projects build on Nanoco's existing extensive
IP portfolio and the expert know-how of our team. They will help to
consolidate our position as the leading producer of nano-materials
for use in infra-red sensing applications, whilst also expanding
into exciting new areas of opportunity."
- Ends -
The person responsible for arranging for the release of this
announcement on behalf of Nanoco is Liam Gray, CFO & Company
Secretary.
The information contained within this announcement is considered
by the Company to constitute inside information as stipulated under
the Market Abuse Regulation (EU) No. 596/2014. Upon the publication
of this announcement via a Regulatory Information Service, this
inside information will be considered to be in the public
domain.
FORWARD LOOKING STATEMENTS
This announcement (including information incorporated by
reference in this announcement) and other information published by
Nanoco may contain statements about Nanoco that are or may be
deemed to be forward looking statements. Such statements are
prospective in nature. All statements other than historical
statements of facts may be forward looking statements. Without
limitation, statements containing the words "targets", "plans",
"believes", "expects", "aims", "intends", "will", "may",
"anticipates", "estimates", "projects" or "considers" or other
similar words may be forward looking statements.
Forward looking statements inherently contain risks and
uncertainties as they relate to events or circumstances in the
future. Important factors such as business or economic cycles, the
terms and conditions of Nanoco's financing arrangements, tax rates,
or increased competition may cause Nanoco's actual financial
results, performance or achievements to differ materially from any
forward looking statements. Due to such uncertainties and risks,
readers are cautioned not to place undue reliance on such forward
looking statements, which speak only as of the date hereof. Nanoco
disclaims any obligation to update any forward looking or other
statements contained herein, except as required by applicable
law.
For further information, please contact:
Nanoco Group PLC :
Brian Tenner, CEO +44 (0) 1928 761 404
Liam Gray, CFO & Company Secretary +44 (0) 1928 761 404
Peel Hunt (Joint Corporate Broker):
Edward Knight +44 (0) 20 7418 8900
Nick Prowting
Turner Pope Investments (Joint Corporate Broker):
Andrew Thacker +44 (0) 20 3657 0050
James Pope
MHP Communications : +44 (0) 203 128 8570
Reg Hoare
Pete Lambie
nanoco@mhpc.com
Notes for editors:
About Nanoco Group plc
Nanoco (LSE: NANO) harnesses the power of nano-materials.
Nano-materials are materials with dimensions typically in the range
1 - 100 nm. Nano-materials have a range of useful properties,
including optical and electronic. Quantum dots are a subclass of
nano-material that have size-dependent optical and electronic
properties. The Group produces quantum dots and other
nano-materials. Within the sphere of quantum dots, the Group
exploits different characteristics of the quantum dots to target
different performance criteria that are attractive to specific
markets or end-user applications such as the Display, Sensor and
Electronics markets. An interesting property of quantum dots is
their absorption spectrum. Nanoco's HEATWAVE(TM) quantum dots can
be tuned to absorb light at different wavelengths across the
near-infrared spectrum, rendering them useful for applications
including image sensors. Another interesting property of quantum
dots is photoluminescence: the emission of longer wavelength light
upon excitation by light of a shorter wavelength. The colour of
light emitted depends on the particle size. Nanoco's CFQD(R)
quantum dots are free of cadmium and other toxic heavy metals, and
can be tuned to emit light at different wavelengths across the
visible and infrared spectrum, rendering them useful for a wide
range of applications including displays, lighting and biological
imaging.
Nanoco was founded in 2001 and is headquartered in Runcorn, UK,
with a US subsidiary, Nanoco Inc., in Concord, MA. Nanoco continues
to build out a world-class, patent-protected IP portfolio generated
both by its own innovation engine, as well as through
acquisition.
Nanoco is listed on the Main Market of the London Stock Exchange
and trades under the ticker symbol NANO. For further information
please visit: www.nanocotechnologies.com.
About Innovate UK, the UK's innovation agency
Innovate UK drives productivity and economic growth by
supporting businesses to develop and realise the potential of new
ideas. We connect businesses to the partners, customers and
investors that can help them turn ideas into commercially
successful products and services and business growth.
We fund business and research collaborations to accelerate
innovation and drive business investment into R&D. Our support
is available to businesses across all economic sectors, value
chains and UK regions. Innovate UK is part of UK Research and
Innovation. For more information visit www.innovateuk.ukri.org
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END
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