Nanoco wins three government grants

Nanoco, the AIM-listed manufacturer of cadmium-free quantum dots and other nanomaterials, has won three grants from the UK government worth almost three-quarters of a million pounds.

The grants, which total £736,000 together, were awarded by the UK's innovation agency, the Technology Strategy Board (TSB), which looks to boost the economy by stimulating and supporting business-led innovation, Nanoco said on Monday morning.

"All of the grants will support the further development of Nanoco's quantum dot and nanomaterials technologies," the firm said.

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Meanwhile, the group has received an award under the Knowledge Transfer Partnerships programme administered by the TSB which will see Nanoco work with the University of Salford on a commercially-focused nanomaterials project.

"These grants from the Technology Strategy Board, and the award under the Knowledge Transfer Partnerships, highlight the potential of our technology to contribute to growth in the UK's innovation-based economy," said Chief Executive Michael Edelman.

"Grant funding is non-dilutive and represents a useful additional funding source. Knowledge Transfer Partnerships also have a valuable role in supporting research and in creating the potential for researchers to transfer into industry," he said.