Innovate UK Grant Award for Collaboration with Loughborough University
Nanoco Group plc (AIM: NANO), a world leader in the development and manufacture of cadmium-free quantum dots and other nanomaterials, is pleased to announce a grant award from Innovate UK, the Government agency formerly named the Technology Strategy Board, in connection with the further development of the Company’s printable solar cell technology.
The £399,562 grant was awarded under Innovate UK’s Energy Catalyst programme and will fund the Company’s part of a collaborative project with Loughborough University’s Centre for Renewable Energy Systems Technology (“CREST”). CREST, which will also receive an Innovate UK grant for the project, is a major UK centre for photovoltaic research, offering excellent facilities and technical expertise.
The objective of the two-year project, which has a total value of almost £1 million, is to build on Nanoco’s progress to date in solar energy by using its novel copper, indium, gallium, selenide (CIGS) solar ink to create a solution-processed, integrated, thin film photovoltaic mini-module.
Nanoco and CREST will work together to optimise the CIGS mini-module architecture. CREST’s wide range of analytical techniques will be used to assist in the mini-module’s development and measurement.
Michael Edelman, Nanoco’s Chief Executive Officer, commented: “We’re very pleased to receive this grant award from Innovate UK to fund the next stage of development of our exciting solar ink technology. We have already achieved an efficiency of around 17% from the solar ink and it is the objective of this grant funded project to scale the technology up to the size of a mini-module. This is our first project with Loughborough University and we are delighted to be able to work with its world class photovoltaic research centre.”
For further information, please contact:
Michael Edelman, Chief Executive Officer
Mark Sullivan, Interim Chief Financial Officer
Tel: +44 (0) 161 603 7900
Canaccord Genuity – Nomad, Sponsor and Joint Broker
Tel: +44 (0) 20 7523 8000
Liberum – Joint Broker
Tel: +44 (0) 20 3100 2000
Mark Court / Sophie Cowles / Stephanie Watson
Tel: +44 (0) 20 7466 5000
Notes for editors:
About Nanoco Group plc
Nanoco is a world leader in the development and production of cadmium-free quantum dots and other nanomaterials for use in multiple applications including LCD displays, lighting, solar cells and bio-imaging. In the display market, it has an exclusive manufacturing and marketing licensing agreement with The Dow Chemical Company.
Nanoco was founded in 2001 and is headquartered in Manchester, UK. It has production facilities in Runcorn, UK, and a US subsidiary, Nanoco Inc, based in Concord, MA. Nanoco also has business development executives in Japan, Korea and Taiwan. Its technology is protected worldwide by a large and growing patent estate.
Nanoco began trading on the AIM market of the London Stock Exchange in May 2009 under the ticker symbol NANO. For further information please visit: www.nanocotechnologies.com.