(TSX-V: NNO) (OTC-Nasdaq Intl
Designation: NNOMF) (Frankfurt: LBMB).
Mr. Dan Blondal, CEO of Nano One Materials Corp., is pleased to
report that the latest results from Nano One’s ongoing joint
development work with Pulead Technology demonstrate compelling
economic advantages that exceed internal targets.
Under the January 2019 agreement, the two companies have been
working collaboratively to develop, evaluate and optimize scaled up
production of lithium iron phosphate (LFP) cathode materials using
Nano One’s patented technology, for use in lithium ion batteries.
Licensing and commercialization opportunities are being explored as
part of this collaboration.
“Nano One’s technology mixes lithium, iron, phosphate, and a
carbon coating in a one pot process and the joint development
results have exceeded our targets in terms of both cost reduction
and performance,” said Mr. Blondal. “Furthermore, Nano One has
identified and evaluated a low cost, high purity and high volume
source of iron that enables our process to eliminate an
intermediate step in the supply chain. This brings about savings
that are very much in line with our goals. The joint development
work is now proceeding to determine the full scale economics and an
optimized path to commercialization.”
Dr. Yuan Gao, CEO of Pulead Technology said, “We are encouraged
by the feasibility work as it has shown that Nano One’s LFP can be
produced with commercially attractive cost savings while
maintaining performance integrity. Our next step is to qualify the
viability of the supply chain identified by Nano One and quantify
the economics in greater detail. The production of LFP cathode
materials is a major source of revenue for Pulead and we are
excited by the commercial opportunity presented by Nano One’s
ground breaking innovations.”
Pulead is a global leader in LFP production looking to expand
its capacity in a rapidly growing market. They are a trusted
cathode supplier and they have license agreements in place with
BASF, Umicore and Prayon.
LFP is widely considered to be the safest, lowest cost and
longest lasting of all lithium ion batteries, making them ideal for
industrial applications. Market demand for LFP is anticipated to
double to over 200,000 tonnes/yr in 20251 for use in electric
buses, vehicles, energy storage systems and as an environmentally
superior alternative to lead-acid batteries. LFP batteries are most
widely used in China where officials report that 61% of passenger
vehicles and 94% of buses will use LFP batteries2.
Mr. Blondal added “The joint development work between Pulead and
Nano One is well positioned to change how the world makes battery
materials and we believe this could disrupt the LFP supply chain.
Pulead brings tremendous manufacturing and supply chain expertise
to the joint development project, and we are looking forward to
advancing our partnership to the next level.”
Nano One Materials Corp.
Dan Blondal, CEO
For information with respect to Nano One or the contents of this
news release, please contact John Lando (President) at (604)
420-2041 or visit the website
at www.nanoone.ca.
About Pulead
Established in 1999 by Oriental Investment Co. Ltd and Peking
University, Pulead Technology Industry is one of China’s leading
Li-ion battery cathode producers. Together with its strategically
positioned subsidiaries and JVs in cathodes and separators as well
as in upstream lithium resources and downstream large format
battery packs, Pulead is becoming a key player in the Li-ion
battery supply
chain. www.pulead.com.cn/en/
About Nano One
Nano One Materials Corp (“Nano One” or “the Company”) has
developed patented technology for the low-cost production of high
performance lithium ion battery cathode materials used in electric
vehicles, energy storage and consumer electronics. The processing
technology addresses fundamental supply chain constraints by
enabling wider raw materials specifications for use in lithium ion
batteries. The process can be configured for the full range of
cathode materials and has the flexibility to shift with emerging
and future battery market trends.
Nano One has built a pilot plant to demonstrate high volume
production and to optimize its technology across a range of
materials. The pilot plant is being funded with the assistance and
support of the Government of Canada through Sustainable Development
Technology Canada (SDTC) and the Automotive Supplier Innovation
Program (ASIP) a program of Innovation, Science and Economic
Development Canada ISED). Nano One also receives financial support
from the National Research Council of Canada Industrial Research
Assistance Program (NRC-IRAP). Nano One’s mission is to establish
its patented technology as a leading platform for the global
production of a new generation of battery materials.
www.nanoone.ca
Certain information contained herein may constitute
“forward-looking information” under Canadian securities
legislation. Forward-looking information includes, but is not
limited to, the execution of the Company’s plans which are
contingent on the receipt of grant monies and the commercialization
of the Company’s technology and patents. Generally, forward-looking
information can be identified by the use of forward-looking
terminology such as 'believe', 'expect', 'anticipate', 'plan',
'intend', 'continue', 'estimate', 'may', 'will', 'should',
'ongoing', or variations of such words and phrases or statements
that certain actions, events or results “will” occur.
Forward-looking statements are based on the opinions and estimates
of management as of the date such statements are made and they 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: the ability of the
Company to obtain additional financing; including the receipt of
grant monies from SDTC, ASIP, NRC-IRAP and the receipt of all
necessary regulatory approvals. 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 to update any forward-looking statements
or forward-looking information that is incorporated by reference
herein, except as required by applicable securities laws.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS
REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE
POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR
THE ADEQUACY OR ACCURACY OF THIS NEWS
1 K. Berman, J. Dziuba, C. Hamilton, J. Jackson, R.
Carlson, P. Sklar, “The Lithium Ion Battery and the EV
Market”, Toronto February 2018 K. Berman, C. Hamilton, J.
Jackson, R. Carlson, “Next Generation Cathode
Technologies”, BMO Capital Markets, Toronto October 2018
C. Pillot, “The Rechargeable Battery Market and Main Trends
2017-2025”, Avicenne Energy, AABC San Diego June 2018 T.
Hoff, S. Ding, V. Leung, S. Hoon Han, C. Kim, C. Terry,
“Notes from the road: Jostling for position in the EV
supply chain”, Deutsche Bank Research, Sydney October
2018M. Sanders, “Industrial Markets North
America”, Avicenne Energy, NAAT Baat International Annual
Meeting 2019, San Diego March 20192 Lithium Today,
“Lithium Market Wire”, 20 March 2019,
http://lithium.today/lithium-market-wire-read/
Nano One Materials (TSXV:NNO)
Historical Stock Chart
From Apr 2024 to May 2024
Nano One Materials (TSXV:NNO)
Historical Stock Chart
From May 2023 to May 2024