Nanoco Group secured grant funding from Innovate UK, for two leading edge development projects

Nanoco Group

Nanoco Group plc (LON:NANO), a world leader in the development and manufacture of cadmium-free quantum dots and other nanomaterials emanating from its technology platform, today announced 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 £0.3m in FY23 and around £0.2m in FY24. Any medium term value implications of the projects will depend on the research outcomes.

Brian Tenner, Nanoco Group 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.”

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