Nanoco Group PLC - Manchester-based nanomaterial developer and manufacturer - Wins grant funding from UK's innovation agency Innovate UK for two quantum technology projects. Says the first covers the development of "singly-doped colloidal dots for potential use in quantum technology applications", while the second project will develop a new material set for potential use in "infra-red sensing and other consumer electronics applications".
Chief Executive Officer Brian Tenner says: "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."
The two projects will last 18 and 12 months respectively, starting early in the 2023 financial year, running to the end of July 2023. Says they will deliver funding to the company of around GBP300,000 and about GBP200,000 in financial 2024.
Current stock price: 39.54 pence, up 0.9% on Wednesday
12-month change: up significantly from 18.93 pence on September 1
By Xindi Wei; xindiwei@alliancenews.com
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Nanoco (NANO)