Nano One Receives $760,145 Milestone Payment from SDTC
June 19, 2018 (Source) — Dan Blondal, CEO of Nano One Materials (TSXV: NNO) (OTC Pink: NNOMF) (FSE: LBMB), is pleased to announce that Nano One has met its objectives on pilot plant optimization and received a milestone payment of $760,145 from Sustainable Development Technology Canada (SDTC).
“This is the third of four installments from SDTC,” said Mr. Blondal, “released to Nano One after delivering on its commitments. SDTC has a comprehensive review process and this confirms Nano One’s ability to execute on its plans to date. The funds are an advance on the work currently underway to validate Nano One’s technology with third party commercial interests.“
To date, the Government of Canada has contributed over $3.2 million in non-dilutive support to Nano One’s pilot plant project through SDTC and the Automotive Supplier’s Innovation Program (ASIP). Nano One has also received support from the National Research Council of Canada Industrial Research Assistance Program (NRC-IRAP) on related projects.
Mr. Blondal said “Nano One has optimized and demonstrated the production of pilot scale volumes of various lithium nickel manganese and cobalt based cathode materials as well as its cobalt free high voltage spinel and lithium iron phosphate. SDTC, ASIP and the Government of Canada are providing crucial support and Nano One remains committed to the commercialization of its manufacturing technology for the production of next generation lithium ion battery cathode materials.“
Nano One Materials Corp.
Dan Blondal, CEO
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About Nano One:
Nano One Materials Corp (“Nano One” or “the Company”) is developing patented technology for the low-cost production of high performance battery 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 a range of different nanostructured materials and has the flexibility to shift with emerging and future battery market trends and a diverse range of other growth opportunities. The novel three-stage process uses equipment common to industry and 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 nanostructured composite materials. For more information, please visit 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.
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