Awarding of Government Grant

In brief · summary, not quotable

Nanoco Group PLC announced it has been awarded a grant from Innovate UK to develop a semiconductor quantum dot ink for one-step coating of image sensors. The six-month project will focus on creating an ink for single-step deposition of lead sulphide nanomaterials to improve processing efficiency. The project is expected to cost £0.1 million, with Innovate UK funding 70% of the total cost. This initiative aims to enable customers to apply PbS nanomaterials to sensors more efficiently and cost-effectively, potentially leading to increased revenues from Nanoco's PbS material.

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Nanoco Group plc (LSE: NANO), a world leader in the development and manufacture of cadmium-free quantum dots and other specific nanomaterials emanating from its technology platform, is pleased to announce it has been awarded a grant from Innovate UK for the development of a semiconductor quantum dot ink for one-step coating of image sensors.

The six month project will build on Nanoco's core quantum dot materials and will pursue the development of an ink which will enable single step deposition of lead sulphide ("PbS") nanomaterials, improving processing efficiency.

The project is forecast to cost £0.1m and will be 70% funded by Innovate UK.

Dmitry Shashkov, Nanoco's CEO, commented:

"A one step ink formulation will enable our customers to apply PbS nanomaterials to their sensors faster and at a lower cost, and to test Nanoco's industry leading materials in their products and production processes. This initiative should lead to further downstream revenues of our production ready PbS material, as well as overall acceleration of this young and dynamic industry - Quantum Dot based sensors. We thank Innovate UK for their support with this development."

Nanoco Group plc:

Dmitry Shashkov, CEO +44 (0)1928 761 404

Liam Gray, CFO & Company Secretary

Sodali & Co (Public Relations)

Elly Williamson +44 (0)79 3535 1934

Pete Lambie

Oliver Banks

Cavendish Capital Markets Limited (Financial Adviser and Corporate Broker):

Ed Frisby / George Lawson (Corporate Finance) +44 (0) 20 7220 0500

Tim Redfern (Corporate Broking)

Jasper Berry (Sales)

CDX Advisors (Financial Adviser):

Steven Foland +1 415 425 2224

Steve Month

Patrick Foley

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