Romeoville, Ill., Oct. 3, 2023 — Solésence Beauty Science, a wholly owned subsidiary of Nanophase Technologies Corporation, today announced that it has been selected as one of the Top 100 Finalists still in the running for the 22nd annual Chicago Innovation Awards.
The awards celebrate the most innovative new products and services in the Chicago region across all organization sizes, sectors and industries. Over 600 business and civic leaders will come together to honor the winners when they are announced on November 16th at the UIC Forum.
The Company was named for the Solésence Kleair™ technology, which is available exclusively through Solésence finished goods. The innovation optimizes zinc oxide to improve its efficacy and aesthetics while boasting best-in-class skin health claims and retaining the purity to meet global requirements.
Solésence Kleair™ enables the active prevention of skin damage caused by UV and pollution by intercepting and quenching exogenous free radicals before they enter the skin, shielding antioxidants and preventing lipid peroxidation. In this way, the technology solves critical health and accessibility issues in the beauty space, making vital, best-in-class skin health products accessible to people of all skin tones, and enabling the development and commercialization of new textures and formats in the mineral space.
“Chicago continues to rise as a global hub of innovation that cuts across industries, large corporations and startups, for-profits and non-profits,” said Luke Tanen, President and CEO of Chicago Innovation. “The impact that this year’s nominees generated is profound – their new products and services generated $3.8 billion in revenues and created over 10,000 new jobs.”
“This is an exciting moment for our Company and for our community. By expanding skin protection beyond the standard sunscreen format and offering daily-use skincare and makeup products with unique versatility that people absolutely love, we believe that we have played a strong role in expanding sunscreen use to all consumer groups regardless of skin color, skin type and lifestyle. Through this work, we believe we have enhanced lives through healthy skin – and we look forward to enhancing as many lives as possible as we continue to grow,” commented Jess Jankowski, President and Chief Executive Officer.
“We are honored to see Solésence Kleair™ among an impressive group of nominees for the 22nd annual Chicago Innovation Awards. We are excited about the future of our technology platform and the value it creates for our brand partners and in consumers’ daily lives,” commented Kevin Cureton, Chief Operating Officer.
As one of the Top 100 Finalists, Solésence Beauty Science will receive a $2,500 scholarship to attend The Practical Innovator, a day-long executive education course on October 3rd led by top faculty who teach innovation at Northwestern’s Kellogg School of Management.
Each of the Top 100 Finalists is also in the running for the annual “People’s Choice Award,” selected through online balloting at https://chicagoinnovation.com/peoples-choice-award-voting/
Out of the Top 100 Finalists, the judges will select 20 winners of the Chicago Innovation Awards. In addition to being celebrated at the Chicago Innovation Awards on November 16th, the winners will be invited to ring the Nasdaq Bell in New York City and receive widespread media recognition.
About Solésence Beauty Science
Solésence, LLC, http://www.solesence.com, a wholly owned subsidiary of Nanophase Technologies, is changing the face of skin health with patented, mineral-based technology that is embraced by leading performance-driven and clean beauty brands alike. Our patented products for brands transform the way mineral actives look, feel and function — enabling textures never-before-seen in the mineral space and inclusivity never-before-seen in the sun care space. Solésence’s innovative formulations offer best-in-class UV protection, unparalleled free radical prevention to protect against pollution, and enhanced antioxidant performance.
About Nanophase Technologies
Nanophase Technologies Corporation (OTCQB: NANX), http://www.nanophase.com, is a leading innovator in minerals-based and scientifically driven health care solutions across beauty and life science categories, as well as other legacy advanced materials applications. Leveraging a platform of integrated, patented, and proprietary technologies, the Company creates products with unique performance, enhancing consumers’ health and wellbeing. We deliver commercial quantity and quality engineered materials both as ingredients and as part of fully formulated products in a variety of formats.
This press release contains words such as “expects,” shall,” “will,” “believes,” and similar expressions that are intended to identify forward-looking statements within the meaning of the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. Such statements in this announcement are made based on the Company’s current beliefs, known events and circumstances at the time of publication, and as such, are subject in the future to unforeseen risks and uncertainties that could cause the Company’s results of operations, performance, and achievements to differ materially from current expectations expressed in, or implied by, these forward-looking statements. These risks and uncertainties include, without limitation, the following: a decision by a customer to cancel a purchase order or supply agreement in light of the Company’s dependence on a limited number of key customers; uncertain demand for, and acceptance of, the Company’s engineered materials, ingredients, and fully formulated products; the Company’s manufacturing capacity and product mix flexibility in light of customer demand; the Company’s limited marketing experience; changes in development and distribution relationships; the impact of competitive products and technologies; the Company’s dependence on patents and protection of proprietary information; the resolution of litigation in which the Company may become involved; the impact of any potential new government regulations that could be difficult to respond to or too costly to comply with while remaining financially viable; the ability of the Company to maintain an appropriate electronic trading venue; and other factors described in the Company’s Form 10-K filed March 29, 2023. In addition, the Company’s forward-looking statements could be affected by general industry and market conditions and growth rates. Except as required by federal securities laws, the Company undertakes no obligation to update or revise these forward-looking statements to reflect new events, uncertainties, or other contingencies.
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