Nano One® Materials Corp. (TSX: NANO) (OTC PINK: NNOMF) (FSE: LBMB) ("Nano One" or the "Company") is a clean technology company with a patented low carbon intensity process (the "One-Pot Process") for the production of low cost, high-performance cathode materials used in lithium-ion batteries and is pleased to provide a corporate update on its commercialisation strategy, expansion plans and partnerships.
"The global lithium ion battery materials market is ramping to millions and tens of millions of tonnes to meet terawatt-hours of forecasted energy storage," said Nano One CEO Mr. Dan Blondal, "however, there are inefficiencies and by-products in the existing supply chain that do not readily scale. We cannot landfill billions of kilograms, we cannot generate more waste than we recycle and we cannot be burning through precious energy sources with inefficient processes. Nano One's technologies are unique in addressing these costly and wasteful shortcomings in the battery supply chain and we intend to drive change in cathode materials manufacturing for a cleaner and more efficient future."
Technology Scaling
Nano One currently develops and makes kilogram scale cathode active materials (CAM) using its patented One-Pot Process in a 1 tonne per annum (tpa) R&D pilot facility located in Burnaby, BC, Canada. This technology has enabled Nano One to successfully demonstrate to strategic interests, a quantifiable reduced environmental footprint, capital costs and operating costs while meeting or exceeding performance criteria. The Company has a growing list of active collaborators, including more than 15 auto OEMs, battery suppliers, cathode makers and miners, and more than 20 other evaluation programs.
Building on this success, Nano One is planning to scale for commercial qualification and production. It has begun detailed engineering and procurement of equipment for a 100 tpa pilot line with preliminary engineering underway for a multi-1,000 tpa industrial scale commercial demonstration line. These scale-up efforts are being focused initially on Nano One's most mature product, lithium iron phosphate (LFP), to address growing demand in the automotive and energy storage markets in North America, Europe and other emerging jurisdictions.
Expansion to Support Technology Commercialisation
To support its technology commercialization plans, Nano One has incorporated a subsidiary in the province of Québec, as Nano One Materials Québec Inc. (Matériaux Nano One Québec Inc.), so that it may leverage the province's skilled and experienced workforce, raw materials, low-cost hydro-electric energy and its decades-in-the-making mines-to-mobility battery materials ecosystem. Nano One is evaluating options for its 100 tpa multi-CAM pilot line, starting with LFP, which will serve as a launchpad for sulfate-free cathode production and technology validation. It will also be a collaborative hub to evaluate raw material inputs in different forms with the aim of eliminating the wasteful by-products and inefficiencies entrenched in overseas supply chains. Recruitment is underway, in both Québec and British Columbia, for new job positions to support these plans.
Partnerships & Pipeline
The status of Nano One's partnerships and technical initiatives are summarized below.
Continuous Innovation
Nano One believes that continuous innovation will drive the changes needed for an era of terawatt-hours and is pleased to announce the issuance of Taiwanese patent I753429 related to niobium coated cathode materials and soon to be issued US patent 11,329,284 related to the One-Pot Process. This marks Nano One's 21st and 22nd patents with approximately 47 other patent applications now pending in jurisdictions around the world.
Adam Johnson, VP External Affairs said "The Government of Canada, the President of the United States, as well as Provincial and State Governments have prioritized the creation of a North American battery supply chain, with tens of billions of dollars focused on processing critical minerals into cathode active materials. As multinational anchor investors begin pouring into Canada, Nano One believes that its technology and strategy can help differentiate North American supply chains by scaling with less complexity and cost, and without the waste implications. We are engaging with various levels of governments and strategic parties to support this critical initiative and we look forward to sharing more news as these partnerships develop and as we continue to execute on our business plans."
About Nano One
Nano One® Materials Corp. (Nano One) is a clean technology company with a patented, scalable and low carbon intensity industrial process for the low-cost production of high-performance lithium-ion battery cathode materials. The technology is applicable to electric vehicle, energy storage, consumer electronic and next generation batteries in the global push for a zero-emission future. Nano One's One-Pot Process, its coated nanocrystal materials and its Metal to Cathode Active Material (M2CAM®) technologies address fundamental performance needs and supply chain constraints while reducing costs and carbon footprint. Nano One has received funding from various government programs and the current "Scaling of Advanced Battery Materials Project" is supported by Sustainable Development Technology Canada (SDTC) and the Innovative Clean Energy (ICE) Fund of the Province of British Columbia. For more information, please visit www.nanoone.ca
Company Contact:
Paul Guedes
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(604) 420-2041
Media Contact:
Chelsea Nolan
Antenna Group for Nano One
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(646) 854-8721
Certain information contained herein may constitute "forward-looking information" and "forward-looking statements" within the meaning of applicable securities legislation. All statements, other than statements of historical fact, are forward-looking statements. Forward-looking information in this news release includes, but is not limited to, statements with respect to: the execution of the Company's business strategy and plans including expansion in Québec, which are contingent on partnerships, support and grants and the commercialisation of the Company's technology and patents. Generally, forward-looking information can be identified by the use of terminology such as 'believe', 'expect', 'anticipate', 'plan', 'intend', 'continue', 'estimate', 'may', 'will', 'should', 'ongoing', 'target', 'goal', 'focus', 'build', 'engage', 'potential' or variations of such words and phrases or statements that certain actions, events or results "will" occur. Forward-looking statements are based on the current opinions and estimates of management as of the date such statements are made are not, and cannot be, a guarantee of future results or events. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information, including but not limited to: the execution of the Company's business strategy including expansion in Québec, any future collaborations that may happen with miners, OEM's or others, the Company's ability to achieve its stated goals, the commercialisation of the Company's technology and patents and other risk factors as identified in Nano One's MD&A and its Annual Information Form dated March 28, 2022, both for the year ended December 31, 2021, and in recent securities filings for the Companies which are available at www.sedar.com. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. The Company does not undertake any obligation to update any forward-looking statements or forward-looking information that is incorporated by reference herein, except as required by applicable securities laws. Investors should not place undue reliance on forward-looking statements.
Last Trade: | US$0.54 |
Daily Change: | -0.01 -1.84 |
Daily Volume: | 2,090 |
Market Cap: | US$60.130M |
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