2022-08-23 | TSX:NANO | Press release
VANCOUVER, BC / ACCESSWIRE / Aug 23, 2022 / (TSX:NANO)(OTC PINK:NNOMF)(Frankfurt:LBMB).
Nano One® Materials Corp. (“Nano One”) is a clean technology company with patented processes for the low-cost, low-environmental-footprint production of high-performance cathode materials used in lithium-ion batteries. Nano One is pleased to report the granting of two (2) other patents in Japan and the receipt of approximately C$1.8 million in non-dilutive and non-reimbursable contributions from Sustainable Development Technology Canada (“SDTC”) and of the British Columbia Innovative Clean Energy Fund (“BC-ICE”) towards the fourth and final stage of the Scaling Advanced Battery Materials project, as indicated in Nano One’s management report dated June 30, 2022, filed on August 4, 2022.
“Nano One has grown tremendously during this SDTC project,” said Nano One’s technical director, Dr. Stephen Campbell, “and it helped us take the final step. We advanced our technology and strengthened our partnerships, completed a significant acquisition and landed a significant strategic investment. With these recent patent issuances, we continue to successfully execute the expansion and value of our intellectual property portfolio This latest contribution to the SDTC and BC-ICE project is a strong endorsement of our progress, goals and path to commercialization.
Nano One previously tripled the footprint of its innovation center in Burnaby, British Columbia and during this third 10-month stage, Nano One has grown its team from approximately sixty percent (60%) to more than sixty (60) people, acquired significant pieces of equipment and scaled its third-party sampling capabilities for lithium iron phosphate (“LFP”) and lithium nickel manganese cobalt oxide ( “NMC”).
During this time, Nano One made patent applications, process and equipment improvements, and added LFP to its metal-to-cathode active materials (“M2CAM®”) business. Associated to engineering studies for third parties and extensive economic modeling, Nano One has demonstrated, with confidence to existing and potential partners, competitive reductions in its cost estimates and an advantageous environmental footprint for future plants and commercial-scale operations.
Additionally, Nano One has added a strategic investment in Rio Tintoand co-development programs with BASF, Johnson Matthey, CBMM, Euro Manganese, and several undisclosed automotive OEMs and materials companies, all related to LFP and NMC cathodes, and supporting the goals of the SDTC project. In addition, Nano One pending acquisition of Johnson Matthey Battery Materials Canada and their LFP business in Candiac, Quebec will help accelerate commercialization efforts.
Support for Scaling Advanced Battery Materials SDTC and BC-ICE project has already been announced on May 31, 2019 and May 6, 2020respectively, and this is the third installment towards $8.2 million in project contributions over 4 stages.
The two Japanese patents relate to the One-Pot formation of niobium-coated spinel (lithium nickel manganese oxide, “LNM”) and a method of forming lithium mixed metal oxides such as lithium nickel manganese cobalt oxide. (“NMC”). The development of these patents was supported in part by advisory services and research and development funds from the National Research Council of Canada Industrial Research Assistance Program (NRC IRAP) and brings the number of patents granted to Nano One has a total of twenty-four (24) with approximately forty-seven (47) patents pending in various jurisdictions around the world.
About Sustainable Development Technology Canada (SDTC)
At SDTC, we support companies trying to do extraordinary things.
From seed funding to educational support and peer-to-peer learning to market integration, we are invested in helping our small and medium-sized businesses grow into successful businesses that employ Canadians coast-to-coast. . We relentlessly strive to help our businesses grow and evolve in an increasingly competitive marketplace.
The innovations we fund help solve some of the world’s most pressing environmental challenges: climate change, regeneration through the circular economy, and the well-being of humans in the communities they live in and the natural environment with which they live. they interact.
Since its inception, SDTC has invested nearly $1.4 billion in more than 450 companies, creating nearly 17,000 jobs. Our companies have reduced their greenhouse gas emissions by approximately 22.4 megatons per year. For more information, please visit sdtc.ca
About BC ICE
The ICE Fund is a special account, funded by a levy on certain energy sales, designed to support the province’s energy, economic, environmental and greenhouse gas reduction priorities, and to advance BC’s clean energy sector. Since 2008, the ICE Fund has committed approximately $110 million to support pre-commercial clean energy technology projects, clean energy vehicles, research and development, and energy efficiency programs. On March 13, 2017, the province announced a joint appeal partnership with Sustainable Development Technology Canada to support the development of pre-commercial clean energy projects and technologies.
About Nano One
Nano One® Materials Corp (Nano One) is a clean technology company with a patented, scalable, low-carbon industrial process for the low-cost production of high-performance lithium-ion battery cathode materials. The technology is applicable to electric vehicles, energy storage, consumer electronics and next-generation batteries as part of the global push towards a zero-emission future. Nano One’s One-Pot process, coated nanocrystalline materials and metal-cathode active material (M2CAM®) technologies address fundamental performance needs and supply chain constraints while reducing cost, complexity and the environmental footprint. Nano One has received support and funding from various government programs, including the National Research Council of Canada Industrial Research Assistance Program (NRC IRAP), Sustainable Development Technology Canada (SDTC), and the Fund for Clean and Innovative Energy of the Province of British Columbia (“BC-ICE”). For more information, please visit www.nanoone.ca
Certain information contained herein may constitute “forward-looking information” and “forward-looking statements” within the meaning of applicable securities laws. All statements, other than statements of historical fact, are forward-looking statements. Forward-looking information contained in this press release includes, but is not limited to: the results of all milestones achieved under the “Scaling Advanced Battery Materials” project jointly funded by SDTC and BC ICE Fund, current and future collaborative engineering and optimization research projects; closing of the ongoing acquisition of the Candiac plant in Quebec; execution of Nano One plans, materials development, production methods, and study for pre-pilot, pilot, and full-scale manufacturing on the path to commercialization that depend on support and grants; fruitful collaboration with Rio Tinto; and the commercialization of Nano One’s technology and patents. Generally, forward-looking information can be identified by the use of terms such as “believe”, “expect”, “anticipate”, “plan”, “intend”, “continue”, ” estimate’, ‘may’, ‘will’, ‘should’, ‘ongoing’, ‘target’, ‘goal’, ‘potential’ or variations of such words and phrases or statements that certain actions, events or results “occur”. will produce”. Forward-looking statements are based on management’s current beliefs and estimates as of the date such statements are made are not, and cannot be, guarantees of future results or events. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that could cause the actual results, level of activity, performance or achievements of Nano One to differ materially from those expressed or implied by such forward-looking statements or forward-looking statements. – forward-looking information, including but not limited to: ongoing and potential future collaborations with SDTC, the British Columbia ICE Fund and any of the consortium partners and the ability to complete the remaining steps to access funds remaining, the closing of the ongoing acquisition of the Candiac plant in Quebec; execution of Nano One plans, materials development, production methods, and study for pre-pilot, pilot, and full-scale manufacturing on the path to commercialization that depend on support and grants; fruitful collaboration with Rio Tinto; and the commercialization of Nano One’s technology and patents and other risk factors as identified in Nano One’s MD&A and Annual Information Form dated March 28, 2022, both for the year ended March 31, December 2021, and in recent securities filings for Nano One which are available at www.sedar.com. Although Nano One’s management has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking statements or information, there may be other factors that cause results are not those 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. Nano One undertakes no 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.
THE SOURCE: Nano One Materials Corp.
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