California Nanotechnologies Announces US$275K in Orders from Leading Green Steel Cleantech Company

Los Angeles, California--(Newsfile Corp. - May 17, 2023) - California Nanotechnologies Corp. (TSXV: CNO) (OTC Pink: CANOF) ("Cal Nano" or the "Company") would like to announce it has received orders valued at US$275K to provide its manufacturing services to a leading clean technology company involved in the production of decarbonized steel. The scope of work for the orders includes the utilization of both Cal Nano's core technologies (Spark Plasma Sintering and Cryomilling) to assist the customer in improving the electrochemical performance of their proprietary and innovative green steel solution.

"We are excited to start the relationship with another cleantech company involved in the decarbonization of industry. Steel is a significant contributor to greenhouse gas emissions worldwide and our ability to bring advanced materials to market makes these new products possible. Overall, the versatility and uniqueness of our services continue to be leveraged across multiple industries as we work with customers looking to improve the overall material properties of their next-generation solutions," stated Eric Eyerman, CEO of California Nanotechnologies Corp.

All orders are expected to be delivered in fiscal year 2024.

In a continued effort to build its presence as a leader of next generation product development, Cal Nano's CEO, Eric Eyerman, was recently requested to be the chair of the materials panel at the United States Department of Energy's Vehicle Technologies Office Electric Drive Technologies Consortium Meeting. Eric presented Cal Nano's technologies and programs being offered to the electric vehicle space including services for advanced magnet materials for motors.

"Cal Nano has a unique opportunity to cement itself as a trusted R&D and commercial-scale manufacturing partner for enabling new technologies driving the global energy transition. I was grateful to be asked to chair this panel as it recognizes our leadership within North America and helps build new opportunities for growth," added Eric Eyerman.

About California Nanotechnologies Corp.

At Cal Nano, we envision a world in which our advanced technologies are used to help make the most innovative products on this planet and beyond. We are trusted by global leaders to help push the boundaries of applied material science by utilizing our unique technical expertise and vision. Headquartered in Los Angeles, California, Cal Nano hosts a complement of advanced processing and testing capabilities for materials research and production needs. Customers range from Fortune 500 companies to startups with programs spanning aerospace, renewable energy, defense, and semiconductors.

For more information:

California Nanotechnologies Corp.
Eric Eyerman, CEO
T: +1 (562) 991-5211
info@calnanocorp.com

Otis Investor Relations Inc.
Brandon Chow, Principal & Founder
T: +1 (647) 598-8815
brandon@otisir.com

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