$10 million in non-dilutive assistance from SDTC helps:
- Rapid observe and change North America’s only LFP plant to pilot Nano One’s 1-Pot Approach.
- Leverage higher-quality acquisition of LFP plant and amplifies enlargement options.
- Speed up strategic advancement and offtake chances with consortium companions Rio Tinto, Lithion Battery Inc., and undisclosed auto OEM.
- Crystal clear a path to industrial scale piloting, demo industrial output and revenues.
- Increase shareholder price, help cleantech innovation and increase safety of offer.
VANCOUVER, BC / ACCESSWIRE / February 13, 2023 / Nano One® Elements Corp. (“Nano A single” or the “Firm”) (TSX:NANO)(OTC PINK:NNOMF)(Frankfurt:LBMB) is a thoroughly clean technology company with patented processes for the small-expense, small-environmental footprint manufacturing of large-general performance cathode elements made use of in lithium-ion batteries. Nano A single is happy to announce an award of $10 million in non-dilutive, non-repayable contributions from Sustainable Progress Technological innovation Canada (“SDTC”). These funds will assistance the conversion of Nano One’s recently acquired Candiac facility to the patented A single-Pot Process for industrial-scale pilot creation of lithium iron phosphate (LFP). SDTC’s continued aid has been an critical contribution to Nano One’s achievements and will speed up the LFP piloting even though advancing the program to business operations.
The SDTC task also includes fiscal guidance for the design and style, design, and procedure of a multi-cathode piloting hub (MCPH) to enable customize and advance Nano One’s A person-Pot and metal-immediate-to-CAM (M2CAM®) procedures for the industrial scale pilot manufacturing of upcoming-gen LFP, NMC and LNM cathode active elements (CAM). These processes are remaining created independently by Nano One particular and jointly with world wide cathode companions1,2 and various automotive collaborators for upcoming licensing, joint undertaking and unbiased manufacturing alternatives. Nano Just one will lead the venture with useful contributions from consortium partners Rio Tinto, Lithion Battery Inc., and an undisclosed automotive OEM3.
“These resources will support us speedy track the conversion of North America’s only LFP plant to Nano One’s patented One Pot Approach,” claimed Nano A single CEO Mr. Dan Blondal. “This will showcase earth-course cathode products, built right right here in Canada, and differentiated on a global scale by driving down expenses, vitality intensity and environmental footprint. It will permit joint enhancement, industrial scale piloting and purchaser validation of LFP, NMC and LNM CAM, and it will help accelerate licensing and offtake though shortening the journey to revenue, comprehensive-scale business demonstration and huge-scale enlargement. This aligns effectively with Nano One’s mission to improve shareholder value, generate prosperity in Canada, and safe provide chains for the North American lithium-ion battery ecosystems. It does so by leveraging our latest acquisition in Candiac, and by environment the stage for high-quality resilient organization chances that will promote regular development into the future.”
This venture is named Pre-Industrial Trial and Multi Cathode Piloting Hub, will be multi-period, multi-calendar year and milestone pushed. This follows two other profitable Nano A person SDTC initiatives4,5 which assisted in demonstrating the One-Pot procedure at modest pilot scale manufacturing volumes and advanced the technological know-how to this position of pre-commercial trials. This challenge also leverages Nano One’s recent high-benefit acquisition of the Johnson Matthey6 LFP organization in Candiac, Québec, Canada, on November 1, 2022. It amplifies the option for global LFP enterprise expansion and is more validated by the aid of the federal govt and the project’s industrial consortium associates. Nano One’s venture in Candiac is more increased by a group with deep know-how commercialization working experience, scale-up knowhow and automotive quality CAM output skills, all led by a seasoned executive staff.
Mr. Blondal added, “We thank SDTC, the Governing administration of Canada and our consortium customers for their continued help. It adds power for Nano 1 and our valued shareholders as we pursue the advancement and commercialization of our technological know-how. We are aligned with authorities in developing source chains that are competitive, resilient, and differentiated with minimal waste, cost, vitality, water use and security concerns. Our Candiac facility will be a start-pad for a new era of scalable cathode materials and sustainable provide chains.”
Leah Lawrence, CEO of SDTC, commented,“As the world electric powered auto (EV) marketplace continues to expand, guaranteeing a reliable offer of EV batteries is critical to Canada’s economic competitiveness. Nano One’s revolutionary cathode active components (CAM) manufacturing course of action will assure a cleaner and effective battery source chain right here at home in Canada and North The usa as nicely. SDTC is happy to carry on our assistance for Nano A single as it enters its upcoming phase of development.”
Minister Francois-Philippe Champagne, Minister of ISED, mentioned, “Canada is going aggressively to seize the economic prospects from crucial minerals mining, refining, and producing. We are dedicated to leveraging our aggressive advantages-abundance of critical minerals, qualified labour, clean strength, proximity to markets-to attain this aim. Canada’s innovation ecosystem is another essential gain, and we will have to harness innovative systems that drive innovation in this area. To that finish, we’re very pleased to assist Nano A single as they change the way battery components are created, minimizing the cost and environmental footprint of electric car or truck batteries, and advancing manufactured-in-Canada innovation.”
The enterprise looks ahead to presenting more aspects as it executes on its vision, strategic initiatives and strategies in 2023.
12022 05 31 – https://nanoone.ca/news/news-releases/nano-one-and-basf-enter-into-a-joint-development-agreement-for-lithium-ion-battery-resources/
22022 12 22 – https://nanoone.ca/news/news-releases/nano-a single-and-umicore-enter-into-joint-progress-agreement-for-battery-elements-system-engineering/
32020 12 18 – https://nanoone.ca/news/information-releases/nano-a person-enters-into-a-cathode-evaluation-settlement-with-major-global-automotive-enterprise/
42019 09 30 – https://nanoone.ca/information/information-releases/nano-one particular-gets-1-181-944-from-sdtc/
52022 08 23 – https://nanoone.ca/information/news-releases/nano-one particular-gets-c-1.8m-toward-sdtc-milestone-4-and-granted-2-patents/
62022 10 01 – https://nanoone.ca/news/information-releases/nano-one particular-announces-closing-of-candiac-acquisition-from-johnson-matthey-and-appoints-denis-geoffroy-as-chief-commercialization/
About Sustainable Growth Technological know-how Canada
At SDTC, we support corporations making an attempt to do incredible factors.
From initial funding to academic guidance and peer learning to market integration, we are invested in aiding our smaller and medium-sized firms increase into effective businesses that use Canadians from coastline to coastline to coast. We are relentlessly targeted on supporting our organizations to expand and scale in an progressively competitive market.
The innovations we fund assistance clear up some of the world’s most pressing environmental issues: weather transform, regeneration via the round overall economy, and the nicely-becoming of people in the communities they stay in and the natural setting they interact with.
About Rio Tinto
Rio Tinto is a mining and metals organization operating in 35 countries all around the earth that produces the elements critical to human progress. It aims to enable pioneer a far more sustainable foreseeable future, from partnering in the growth of technologies that can make the aluminum smelting method totally absolutely free of direct GHG emissions, to giving the environment with the resources it requires – these as copper and titanium – to construct a new low-carbon overall economy and merchandise like electric powered motor vehicles and smartphones.
Rio Tinto has a extensive heritage in Québec, Canada in which it operates substantial aluminium, iron and titanium enterprises. Rio Tinto is setting up a main battery resources small business, with three lithium initiatives in progress throughout the United States, Argentina and Serbia.
About Lithion Battery
Lithion is a vertically integrated producer of cells and rechargeable and non-rechargeable battery modules and packs serving the industrial, health-related, robotic, military services / protection and electrical power conclusion-marketplaces. Lithion will work carefully with primary gear producers and end people to present substantial-quality electric power answers for significant programs where reliability is paramount. Doing work closely with shoppers when producing Lithium Iron Phosphate and other lithium-ion cells and battery modules and packs out of Lithion’s North American dependent manufacturing operations, makes it possible for the Corporation to reliably provide solution to clients – items which are controlled by really customizable battery administration units. Remarkably differentiated products coupled with reliable provide makes it possible for Lithion to supply the electrification solutions prospects involve.
About Nano One®
Nano A person Supplies Corp (Nano One) is a clear technological know-how enterprise with a patented, scalable and minimal carbon depth industrial method for the reduced-cost output of significant-overall performance lithium-ion battery cathode components. It employs roughly 120 individuals at its innovation and commercialization hubs in British Columbia and Québec, which include the only LFP plant and creation crew in North The united states. It has strategic collaborations and partnerships, that involve Rio Tinto, BASF, Umicore, CBMM and several automotive OEMs.
Nano One’s know-how is relevant to electric motor vehicles, power storage, client electronics and future era batteries in the world force for a zero-emission potential. Its One particular-Pot process, its coated solitary crystal products, and its Steel to Cathode Energetic Material (M2CAM®) systems tackle essential general performance requires and source chain constraints they also minimize products and raw content charges, functioning charges, and carbon intensity and they do away with a substantial waste stream for a significantly-improved environmental footprint.
The Firm aims to pilot and reveal its know-how as flip-critical CAM creation options for license, joint enterprise and unbiased generation prospects. This leverages Canadian talent, crucial minerals, renewable electricity, and a thriving ecosystem with accessibility to large emerging markets in North America, Europe and the Indo-Pacific location. Nano Just one has been given funding from the SDTC, Governing administration of Canada and Federal government of British Columbia.
For much more data, make sure you check out www.nanoone.ca
Specific details contained herein may represent “ahead-hunting info” and “ahead-looking statements” inside of the which means of applicable securities laws. All statements, other than statements of historical reality, are forward-seeking statements. Forward-hunting information and facts in this information release involves, but is not restricted to, statements with respect to: the growth of technologies, provide chains, and designs for construction, scale-up and operation of a multi cathode piloting hub (MCPH), accomplishment of industrial scale piloting, demo commercial manufacturing and revenues, successful present and upcoming collaborations that may take place with OEM’s, miners or other folks, which includes consortium associates, the execution of the Company’s plans which are contingent on assist and grants and the commercialization of the Firm’s technological know-how and patents. Normally, forward-wanting information and facts can be identified by the use of terminology this kind of as ‘believe’, ‘expect’, ‘anticipate’, ‘plan’, ‘intend’, ‘continue’, ‘estimate’, ‘may’, ‘will’, ‘should’, ‘ongoing’, ‘target’, ‘goal’, ‘encouraged’, ‘projected’, ‘potential’ or versions of this kind of phrases and phrases or statements that certain steps, gatherings or benefits “will” occur. Ahead-wanting statements are dependent on the present-day viewpoints and estimates of management as of the day these statements are built are not, and can’t be, a guarantee of potential benefits or activities. Ahead-wanting statements are topic to acknowledged and not known hazards, uncertainties and other variables that may result in the genuine success, stage of exercise, functionality or achievements of the Company to be materially various from these expressed or implied by this kind of ahead-looking statements or forward-hunting info, which includes but not minimal to: the capability of the Corporation to attain added financing, such as the receipt of full grant monies from SDTC the receipt of all vital regulatory approvals standard and world financial and regulatory improvements next ways and well timed execution of the Company’s business designs effective execution of industrial scale piloting, demo industrial production and profits generation the growth of technological know-how, supply chains, and ideas for construction and procedure of a multi cathode piloting hub (MCPH), continuation and potential collaborations that are/may take place with the OEM’s, miners or other people, including the consortium partners the Firm’s skill to obtain its said plans the commercialization of the Company’s engineering and patents and other hazard variables as discovered in Nano One’s MD&A and its Annual Facts Type dated March 28, 2022, both for the 12 months finished December 31, 2021, and in new securities filings for the Companies which are obtainable at www.sedar.com. Despite the fact that management of the Firm has attempted to detect crucial variables that could cause genuine benefits to differ materially from those contained in forward-hunting statements or forward-on the lookout information, there may possibly be other aspects that result in final results not to be as predicted, estimated or supposed. There can be no assurance that this kind of statements will establish to be precise, as genuine effects and foreseeable future functions could vary materially from those expected in these types of statements. Accordingly, visitors should not put undue reliance on forward-wanting statements and forward-wanting info. The Organization does not undertake any obligation to update any forward-searching statements or forward-looking data that is included by reference herein, other than as needed by relevant securities rules. Buyers need to not spot undue reliance on forward-seeking statements.
Source: Nano One particular Products Corp.