Nano One Enters into a Cathode Evaluation Agreement with Major Global Automotive Company
December 18, 2020 (Source) — Nano One® (TSXV: NNO) (OTC Pink: NNOMF) (FSE: LBMB) CEO Mr. Dan Blondal is pleased to announce that Nano One has entered into a cathode evaluation and benchmark agreement with an American based multinational auto manufacturer to jointly evaluate Nano One’s cathode materials for automotive lithium ion batteries. Financial compensation towards the project is confidential.
“The goal of this project is to evaluate the performance and commercial benefit of Nano One’s patented One-Pot process for nickel rich and cobalt free cathode materials in electric vehicle applications,” said Ms. Hamutal Ben Bassat, VP of Business Development for Nano One. “This agreement formalizes efforts that began earlier this year and aligns Nano One with its second major automotive company. These are formative steps in developing a long term relationship. We are confident that given economic viability it will lead to commercial opportunities and strategies to integrate Nano One’s technologies into the electric vehicle value chain.”
Nano One’s One-Pot process forms durable single crystal cathode powders and protective coatings simultaneously, directly from sulfate-free metal salts and lithium carbonate. It is an environmentally inspired process using limited water and produces no waste stream. The process eliminates intermediate products, additional coating steps and the costly requirements for metal-sulfates and lithium hydroxide feedstocks. This aligns Nano One with the sustainability and cost objectives of automotive companies, investment communities and governmental infrastructure initiatives.
Mr. Blondal said, “We have added a major global EV leader to our pipeline of opportunities and we aim to develop this relationship into a long term commercial arrangement. We are well positioned with many strategic opportunities and we have the momentum, core competency and working capital to execute on our business plans.”
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 Nano One
Nano One Materials Corp 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 enables lower cost feedstocks, simplifies production, and advances performance for a wide range of cathode materials. Nano One has built a demonstration pilot plant and is partnered with global leaders in the lithium ion battery supply chain to advance its lithium iron phosphate (LFP), lithium nickel manganese cobalt oxide (NMC) and lithium nickel manganese oxide (LNM) cathode technologies for large growth opportunities in e-mobility and renewable energy storage applications.
Nano One’s pilot and partnership activities are being funded with the assistance and support of the Government of Canada through Sustainable Development Technology Canada (SDTC), the Automotive Supplier Innovation Program (ASIP) a program of Innovation, Science and Economic Development Canada (ISED), and the Province of British Columbia through the Ministry of Energy, Mines and Petroleum Resources. 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, any statements regarding its financial position, business strategy, growth strategies, budgets, operations, financial results, plans, objectives and other information that is not historical fact… 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. See “Cautionary Note Regarding Forward-Looking Information” and “Risk Factors” in the Company’s Annual Information Form which is available on www.sedar.com for a discussion of the uncertainties, risks and assumptions associated with these statements. We caution that the list of risk factors and uncertainties is not exhaustive and other factors could also adversely affect our results… 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 RELEASE