Nanophase Technologies Named to Fast Company’s Annual List of the World’s Most Innovative Companies for 2023 for Solésence Beauty Science Breakthroughs

The leader in inclusive skin health joins the ranks of OpenAI, Disney, Tiffany & Co., and more

ROMEOVILLE, Ill., March 02, 2023 (GLOBE NEWSWIRE) -- Nanophase Technologies Corporation (OTCQB: NANX) has been named to Fast Company’s prestigious annual list of the World’s Most Innovative Companies for 2023. The Company has earned the standing of No. 2 in the Beauty category, recognition of the innovations and achievements of the Company’s wholly owned subsidiary, Solésence Beauty Science.

This year’s list highlights the businesses at the forefront of their respective industries, paving the way for the innovations of tomorrow. These companies are setting the standard with some of the greatest accomplishments of the modern world. In addition to the World’s 50 Most Innovative Companies, 540 organizations are recognized across 54 sectors and regions.

“Solésence Beauty Science has endeavored to enhance lives through healthy skin since its establishment in 2016, and we have been thrilled to see the evolution of the beauty industry toward making life more joyful and healthier in all ways,” commented Jess Jankowski, President and Chief Executive Officer. “Nanophase has had a long history of being an innovator, and our ability to invent new technologies that enable better human health while enhancing shareholder value epitomizes the concept of ‘doing well by doing good’ and is core to the company we have become.”

“Our Active Stress Defense™ technology platform, including the award-winning Kleair™ technology, has been the foundation of dozens of award-winning, SPF-infused beauty products on the market today. We believe we have contributed to a new skin health standard across beauty categories,” commented Kevin Cureton, Chief Operating Officer. “These accolades further reinforce the importance of the work we do with our brand partners to develop, manufacture, and distribute top-shelf products that consumers love to use every day. This is where Solésence makes a difference and will continue to be an important part of how we grow through fulfilling our mission to enhance people’s lives through healthy skin – through inclusive beauty that provides equal access to the healthiest technologies regardless of how you look or where you live.”

Fast Company’s editors and writers sought out the companies making the biggest strides around the globe. They also judged nominations received through their application process.

The World’s Most Innovative Companies is Fast Company’s signature franchise and one of its most highly anticipated editorial efforts of the year. It provides a firsthand look at the inspiring and innovative efforts of companies across all sectors of the economy.

“What a strange and thrilling year it has been to honor this year’s Most Innovative Companies. This year’s list compiles some of the most cutting-edge groundbreakers who are changing our world every single day, from legacy organizations like McDonald’s to upstarts like MrBeast and institutions such as NASA. Everyone on this list does something completely, uniquely different, yet, they all have one thing in common: innovation,” said Fast Company editor-in-chief Brendan Vaughan.

Fast Company will host its third annual Most Innovative Companies Summit on April 19 and 20. The virtual summit celebrates the Most Innovative Companies in business, and provides an inside look at cutting-edge business trends and what it takes to innovate in 2023. Fast Company’s Most Innovative Companies issue (March/April 2023) is available online here, as well as in-app form via iTunes, and on newsstands beginning March 14. The hashtag is #FCMostInnovative.

ABOUT SOLÉSENCE BEAUTY SCIENCE  
Solésence, LLC, 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 (NANX), 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 well-being. We deliver commercial quantity and quality engineered materials both as ingredients and as part of fully formulated products in a variety of formats.

ABOUT FAST COMPANY
Fast Company is the only media brand fully dedicated to the vital intersection of business, innovation, and design, engaging the most influential leaders, companies, and thinkers on the future of business. Headquartered in New York City, Fast Company is published by Mansueto Ventures LLC, along with our sister publication Inc., and can be found online at www.fastcompany.com.

FORDWARD-LOOKING STATEMENTS   
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 31, 2022. 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.     

Media Contact:
Emma Harper
Email: eharper@solesence.com

Investor Relations Contact:
Phone: (630) 771-6736