Joint Development Agreement with Asian Customer

FOR IMMEDIATE RELEASE                                                                                                            7 November 2023

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (596/2014/EU) AS THE SAME HAS BEEN RETAINED IN UK LAW AS AMENDED BY THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS (SI 2019/310) ("UK MAR").

Nanoco Group PLC

("Nanoco, the "Group", or the "Company")

Joint Development Agreement ("JDA") with Asian Customer

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 signed a major new JDA with its important Asian Chemical customer (the "Customer").

The two-year programme has now commenced and creates a longer term and deeper collaboration between the two companies, who have been working together since June 2021.

The JDA follows on from the successful delivery of all technical milestones in the six short development projects previously undertaken for the Customer which were focused on delivering a novel second generation nanomaterial for use in infra-red sensing. With proof of concept now achieved, the key goal of the JDA is to optimise the material for the performance required by a number of global electronics applications. Once this is successfully delivered, the subsequent stage will involve scale up to industrial production levels during 2026 and 2027.

The JDA helps to underpin the Board's expectations for non-license fee income in FY24, which are in line with FY23 and is also expected to deliver additional sales of test materials during FY24 and FY25.

Brian Tenner, Nanoco's CEO, commented:

"The JDA marks a significant milestone during our collaboration with an important customer and in delivering world leading levels of performance for our new second generation sensing material.

"The extended commitment highlights our Customer's confidence and belief in Nanoco and the applicability of quantum dot technology to the significant global infra-red sensing markets in which it operates. Our customer is a very significant player in electronics supply chains and extends Nanoco's reach to their many customers.

"We are encouraged that both of our current key customers continue to show strong momentum in their engagements with Nanoco and continue to feed our pipeline of new material development to ensure future commercial production income streams. We look forward to developing these relationships further as progress continues."

- Ends -

The person responsible for arranging for the release of this announcement on behalf of Nanoco is Liam Gray, Chief Financial Officer.

MAR

The information contained within this announcement is considered by the Company to contain inside information for the purposes of UK MAR. Upon the publication of this announcement via a Regulatory Information Service, this inside information will be considered to be in the public domain.

For further information, please contact:

Nanoco Group PLC:                                                                                                                 +44 (0) 1928 761 422

Brian Tenner, CEO                 

Liam Gray, CFO & Company Secretary

Peel Hunt (Joint Corporate Broker):                                                                                    +44 (0) 20 7418 8900

Paul Gillam

Richard Chambers

James Smith

Turner Pope Investments (Joint Corporate Broker):                                                         +44 (0) 20 3657 0050

Andrew Thacker

James Pope

MHP:                                                                                                                                           +44 (0) 20 3128 8793

Reg Hoare/Matthew Taylor/Christian Harte

[email protected]

Notes for editors:

About Nanoco Group plc

Nanoco (LSE: NANO) harnesses the power of nano-materials. Nano-materials are materials with dimensions typically in the range 1 - 100 nm. Nano-materials have a range of useful properties, including optical and electronic. Quantum dots are a subclass of nano-material that have size-dependent optical and electronic properties. The Group produces quantum dots and other nano-materials. Within the sphere of quantum dots, the Group exploits different characteristics of the quantum dots to target different performance criteria that are attractive to specific markets or end-user applications such as the Display, Sensor and Electronics markets. An interesting property of quantum dots is their absorption spectrum. Nanoco's HEATWAVE™ quantum dots can be tuned to absorb light at different wavelengths across the near-infrared spectrum, rendering them useful for applications including image sensors. Another interesting property of quantum dots is photoluminescence: the emission of longer wavelength light upon excitation by light of a shorter wavelength. The colour of light emitted depends on the particle size. Nanoco's CFQD® quantum dots are free of cadmium and other toxic heavy metals, and can be tuned to emit light at different wavelengths across the visible and infrared spectrum, rendering them useful for a wide range of applications including displays, lighting and biological imaging.

Nanoco was founded in 2001 and is headquartered in Manchester, UK, with a US subsidiary, Nanoco Inc., in Concord, MA. Nanoco continues to build out a world-class, patent-protected IP portfolio generated both by its own innovation engine, as well as through acquisition.

Nanoco is listed on the Main Market of the London Stock Exchange and trades under the ticker symbol NANO. For further information please visit: www.nanocotechnologies.com.