Nano One Demonstrates Lithium Carbonate As Alternative Feedstock for High Energy Electric Vehicle Batteries
October 10, 2017 (Source) — Dan Blondal, CEO of Nano One Materials (TSXV: NNO) (FSE: LBMB) (OTC Pink: NNOMF), today announced that Nano One has successfully demonstrated the synthesis of high energy cathode material for electrical vehicles using lithium carbonate feedstock with energy densities on par with industry standards. This demonstration underlines the opportunity of Nano One’s technology to enable a wider range of lithium sources for the rapidly growing electric vehicle market and supplements Nano One’s other opportunities in the space including cathode material durability, power, energy and processing cost.
“To provide electric vehicles with greater driving range, the industry is transitioning to energy dense lithium ion cathode materials with increasingly higher proportions of nickel relative to cobalt, manganese or aluminum,” explains Mr. Blondal. “Current industrial methods require lithium hydroxide as feedstock for thesenickel-rich cathode materials, however, Nano One’s flexible process also enables the use of lithium carbonate and we believe it has the opportunity to address challenges in the lithium supply chain.”
Nickel rich cathode materials include nickel cobalt aluminate (NCA) and nickel manganese cobaltate (NMC-532, 622 and 811). These materials are expected to play an increasingly dominant role in the lithium ion batteries used by Tesla, General Motors and other major electric vehicle manufacturers.
“Nano One’s laboratory batches of NCA and NMC811 have energy densities of 710 and 750 Wh/kg, respectively,” said Nano One Principal Scientist, Dr. Stephen Campbell. “This is comparable to the same materials made with lithium hydroxide and demonstrates a cost effective lithium alternative. The path to commercial scale is well understood from our pilot experience with NMC111 and NMC622, consequently, the technology has the opportunity to address constraints in the lithium supply chain.“
Nano One Materials Corp.
Dan Blondal, CEO
Get our daily investorintel update
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, consumer electronics and next generation batteries. 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. Piloting 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). 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, statements with respect to the actual receipt of the grant monies, the execution of the Company’s plans which are contingent on the receipt of such 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. 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 RELEASE
InvestorIntel is a trusted source of reliable information at the forefront of emerging markets that brings investment opportunities to discerning investors.