In an Investor.Coffee interview series hosted by Jack Lifton, Co-Chairman of the Critical Minerals Institute (CMI), and guest John Passalacqua, CEO and Director of First Phosphate Corp.‘s (CSE: PHOS | FSE: KD0), Jack commends John for First Phosphate’s exceptional operation and strategic alliance recently announced with Sun Chemical Corporation.

The discussion includes details surrounding First Phosphates’ innovative approach to the mining and production of lithium iron phosphate (LFP) batteries.

John emphasized the importance of integrating the mining process within the supply chain for effective production. First Phosphate’s business model rests on three pillars: mining and producing phosphate concentrate, transforming this concentrate into purified phosphoric acid—a precursor to LFP batteries, and finally producing LFP cathode active material. The partnership with Sun Chemical is pivotal in this third stage. Sun Chemical, backed by the DIC Group with a substantial market cap, brings invaluable expertise in industrial production, similar to the requirements of the LFP industry.

Sun Chemical’s existing facilities in Michigan and globally offer significant advantages, such as saving time and capital expenditure, given the pre-existing infrastructure and logistics. This partnership allows First Phosphate to focus on technology selection, client engagement, and research and development. The collaboration addresses the unique challenges of producing LFP batteries in North America, including differing environmental standards and the need for localization.

Jack highlighted the growing market preference for LFP batteries, noting their ease of production compared to other types due to the lack of need for cobalt and nickel. He praised First Phosphate’s role in establishing a domestic supply chain for LFP cathode materials in the United States, potentially making them a key supplier for North American OEM automotive businesses. Jack remarked on the synergy between First Phosphate and Sun Chemical, where both parties contribute essential skills and resources.

John concluded by acknowledging his team’s hard work and the strong partnership with Sun Chemical, underscoring the mutual respect and collaboration driving the venture’s success.

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About First Phosphate Corp.

First Phosphate is a mineral development company fully dedicated to extracting and purifying phosphate for the production of cathode active material for the LFP battery industry. First Phosphate is committed to producing at high purity level, in responsible manner and with low anticipated carbon footprint. First Phosphate plans to vertically integrate from mine source directly into the supply chains of major North American LFP battery producers that require battery grade LFP cathode active material emanating from a consistent and secure supply source. First Phosphate holds over 1,500 sq. km of royalty-free district-scale land claims in the Saguenay-Lac-St-Jean Region of Quebec, Canada that it is actively developing. First Phosphate properties consist of rare anorthosite igneous phosphate rock that generally yields high purity phosphate material devoid of high concentrations of harmful elements.

To learn more about First Phosphate Corp., click here

Disclaimer: First Phosphate Corp. is an advertorial member of InvestorNews Inc.

This interview, which was produced by InvestorNews Inc. (“InvestorNews”), does not contain, nor does it purport to contain, a summary of all material information concerning the Company, including important disclosure and risk factors associated with the Company, its business and an investment in its securities. InvestorNews offers no representations or warranties that any of the information contained in this interview is accurate or complete.

This interview and any transcriptions or reproductions thereof (collectively, this “presentation”) does not constitute, or form part of, any offer or invitation to sell or issue, or any solicitation of any offer to subscribe for or purchase any securities in the Company. The information in this presentation is provided for informational purposes only and may be subject to updating, completion or revision, and except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any information herein. This presentation may contain “forward-looking statements” within the meaning of applicable Canadian securities legislation. Forward-looking statements are based on the opinions and assumptions of the management of the Company as of the date made. They are inherently susceptible to uncertainty and other factors that could cause actual events/results to differ materially from these forward-looking statements. Additional risks and uncertainties, including those that the Company does not know about now or that it currently deems immaterial, may also adversely affect the Company’s business or any investment therein.

Any projections given are principally intended for use as objectives and are not intended, and should not be taken, as assurances that the projected results will be obtained by the Company. The assumptions used may not prove to be accurate and a potential decline in the Company’s financial condition or results of operations may negatively impact the value of its securities. This presentation should not be considered as the giving of investment advice by the Company or any of its directors, officers, agents, employees or advisors. Each person to whom this presentation is made available must make its own independent assessment of the Company after making such investigations and taking such advice as may be deemed necessary. Prospective investors are urged to review the Company’s profile on SedarPlus.ca and to carry out independent investigations in order to determine their interest in investing in the Company.

In a recent InvestorNews interview, host Brandon Colwell spoke with Dan Blondal, Founder, CEO, and Director of Nano One Materials Corp. (TSX: NANO), about Nano One’s collaboration agreement and $16.9 million strategic investment from Sumitomo Metal Mining. Dan emphasized the importance of this partnership, highlighting Sumitomo’s position as one of the world’s leading vertically integrated miner, refiner and producer of cathode active materials.  

Dan goes on to explain the uniqueness of Nano One’s One-Pot process, which eliminates the need for chemical intermediates and Sulphate waste streams when producing cathode active materials. Dan discusses how this eco-friendly and simplified approach has garnered the interest of major players like Sumitomo and Rio Tinto, as well as OEMs looking to streamline their supply chains and reduce environmental impact.

Dan outlined their plans to focus on their operations in Candiac, Quebec, where they acquired Johnson Matthey’s lithium iron phosphate (LFP) facility. Dan discusses how the experienced team there, along with the one-pot process, positions Nano One to supply the automotive industry efficiently and sustainably. Dan further adds that Sumitomo’s equity investment will help drive piloting and process improvement, fostering integration with Sumitomo’s LFP ambitions worldwide.

Dan discusses how LFP will play a pivotal role in the mass adoption of electric vehicles, as it offers lower cost and improved cyclability, making it a suitable choice for affordable, smaller batteries. He pointed out that China’s LFP market share is already significant, and this trend is expected to extend globally, driven by the mass-market electric vehicle and energy storage sectors.

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About Nano One Materials Corp.

Nano One Materials Corp. (Nano One) is a clean technology company with a patented, scalable and low carbon intensity industrial process for the low-cost production of high-performance lithium-ion battery cathode materials. With strategic collaborations and partnerships, including automotive OEMs and strategic industry supply chain companies like BASF, Umicore and Rio Tinto. Nano One’s technology is applicable to electric vehicles, energy storage, and consumer electronics, reducing costs and carbon intensity while improving environmental impact. Nano One aims to pilot and demonstrate its technology as turn-key production solutions for license, joint venture, and independent production opportunities, leveraging Canadian talent and critical minerals for emerging markets in North America, Europe, and the Indo-Pacific region. Nano One has received funding from SDTC and the Governments of Canada and British Columbia.

To learn more about Nano One Materials Corp., click here

Disclaimer: Nano One Materials Corp. is an advertorial member of InvestorNews Inc.

This interview, which was produced by InvestorNews Inc. (“InvestorNews”), does not contain, nor does it purport to contain, a summary of all material information concerning the Company, including important disclosure and risk factors associated with the Company, its business and an investment in its securities. InvestorNews offers no representations or warranties that any of the information contained in this interview is accurate or complete.

This interview and any transcriptions or reproductions thereof (collectively, this “presentation”) does not constitute, or form part of, any offer or invitation to sell or issue, or any solicitation of any offer to subscribe for or purchase any securities in the Company. The information in this presentation is provided for informational purposes only and may be subject to updating, completion or revision, and except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any information herein. This presentation may contain “forward-looking statements” within the meaning of applicable Canadian securities legislation. Forward-looking statements are based on the opinions and assumptions of the management of the Company as of the date made. They are inherently susceptible to uncertainty and other factors that could cause actual events/results to differ materially from these forward-looking statements. Additional risks and uncertainties, including those that the Company does not know about now or that it currently deems immaterial, may also adversely affect the Company’s business or any investment therein.

Any projections given are principally intended for use as objectives and are not intended, and should not be taken, as assurances that the projected results will be obtained by the Company. The assumptions used may not prove to be accurate and a potential decline in the Company’s financial condition or results of operations may negatively impact the value of its securities. This presentation should not be considered as the giving of investment advice by the Company or any of its directors, officers, agents, employees or advisors. Each person to whom this presentation is made available must make its own independent assessment of the Company after making such investigations and taking such advice as may be deemed necessary. Prospective investors are urged to review the Company’s profile on SedarPlus.ca and to carry out independent investigations in order to determine their interest in investing in the Company.

One of the largest gaps in the North American EV metals supply chain is the need for ‘western supply’ of lithium iron phosphate (“LFP”) cathodes used in most standard range electric cars, smaller electric cars, commercial vehicles, and stationary energy storage. These demand areas are set to surge this decade, yet where is the non-China supply of LFP going to come from?

At Tesla Inc. (NASDAQ: TSLA) 2023 Annual Shareholder Meeting on May 16, 2023, Elon Musk showed a very interesting slide that stated solar and wind production needs to increase by 3x/yr, battery production by 29x/yr, battery electric vehicle (“BEV”) production by 11x/yr. The takeaway from the slide is that the greatest area of forecast demand is battery production. Another key thought is that Tesla sees most, if not all, of their standard range electric cars, smaller electric cars, and stationary energy storage batteries using LFP cathode chemistry.

Solar and wind production needs to increase by 3x/yr, battery production by 29x/yr, BEV production by 11x/yr to reach a 100% renewable energy world

Source: Tesla 2023 shareholder meeting

All of Tesla’s current LFP batteries come from China, which results in US-made Tesla electric cars with LFP batteries only receiving half of the IRA clean vehicle tax credit of US$7,500. Similar to other EV OEMs using China batteries from Contemporary Amperex Technology Co., Limited (SHE: 300750) (“CATL”), Gotion High-tech Co., Ltd. (SHE: 002074), and others.

The next big thing will be North American and European LFP battery production. LFP cathodes and batteries could be made in North America using a Western supply chain. There is just one company currently able to supply a small volume of LFP cathode material from North America.

Nano One Materials Corp.

The Company is Nano One Materials Corp. (TSX: NANO) (“Nano One”). Nano One owns the only existing North American lithium iron phosphate (“LFP”) production facility (“the Candiac facility”). Nano One is a battery materials focused company that has developed and patented numerous more effective ways to produce cathode materials that are cost-effective with no waste streams and an improved environmental footprint.

Nano One is converting its 2,400tpa LFP Candiac facility in Québec to the One-Pot process with small pilot plant volumes targeted for end of 2023 for evaluation with partners and scaling up to approx. capacity of 2,000tpa by end of 2024.

On April 24, 2023, Nano One updated the market on their commercial plans for LFP and other cathode materials. Highlights of the plan were quoted as follows:

• “Nano One’s technology, manufacturing hub and plans represent a game-changing opportunity to secure sustainable and clean battery supply chains in North America.
• Nano One’s systematic plans jump start the commercialization of its One-Pot process starting at 200 tonnes per year in 2023, expanding in steps to 2,000, 10,000 and hundreds of thousands of tonnes per year.
• $40 million in cash, $7 million in grants remaining to draw down and multiple proposals for additional government support.“

Nano One’s Candiac facility in Québec is being retrofitted with its new One-Pot reactors (using Nano One’s patented one pot process), and will be commissioned initially as a Pilot Plant with 200tpa in Q3 2023, ramping up to 2,000 tpa. The Pilot Plant will produce product off-take samples to be qualified by cathode and battery manufacturers. Nano One then plans to expand this to a 10,000tpa Demo Plant.

Of particular interest was the part highlighted above, notably “hundreds of thousands of tonnes per year“. Given the massive demand wave ahead for LFP cathodes and a new North American supply chain, the potential growth ahead for Nano One is enormous. We wrote about this opportunity in late 2022 here.

CEO Dan Blondal commented:

“The cathode market opportunity is extraordinary, with production volumes projected to grow, in North America for instance, from thousands to over a million tonnes per year, within a decade. We are laying a solid foundation to address these opportunities and to bring increased value to our shareholders. It begins with a strategy that leverages our newly acquired facility in Candiac, Québec which is the only LFP production plant and most experienced operational team in North America.……”

Nano One says they will launch LFP in North America, followed by Europe and the Indo-Pacific region to power hundreds of gigawatt hours (“GWh”) of battery storage and millions of EVs.

Nano One state:

“This plan could enable hundreds of millions in revenue during Nano One’s initial years of commercial operations while also enabling demonstration of its technology to the market, potential licensors, joint ventures, and investors, at a scale relevant to automotive OEM and renewable energy storage interests.”

Nano One’s Candiac 2,400tpa LFP plant (Quebec, Canada) and expansion plans for a one-pot process Pilot and Demo Plant

Source: Nano One company presentation

Nano One also plans to make cathode materials for NMC and LNMO batteries

In addition, Nano One has commercialization plans for nickel manganese cobalt (“NMC”) and lithium nickel manganese oxide (“LNMO”) cathode active materials. Nano One also has engineering work underway for a separate 100 tpa NMC and LNMO pilot facility.

Closing remarks

For a long time, Nano One has been seen as a pioneering cathode materials research style company. However, this has changed significantly since their purchase of the Candiac facility in North America. Nano One is now starting a new journey as a commercial cathode materials ‘manufacturer’ with plans to scale to large volumes and supply the emerging North American battery supply chain with critically needed cathode materials LFP and NMC. The company is also implementing its licensing strategy to deploy its technology with partners throughout key markets in Europe, Asia and South America.

Nano One Materials trades on a market cap of C$278 million.

Lithium iron phosphate (“LFP”) batteries are rapidly gaining market share

A major trend in the world of batteries and electric vehicles is the move towards lithium-iron phosphate (“LFP”) batteries. Not only do they cost less than rival nickel manganese cobalt (“NMC”) batteries, but they last approximately 2-times longer and are much safer (almost zero risk of fire).

The one drawback is their energy density, meaning an electric car’s range with LFP is less than the comparable NMC batteries. However, advancements in LFP technology now mean a base model (rear-wheel drive) Tesla Model 3 with LFP batteries has an EPA range estimate of 272 miles or 438 kilometers. That range is more than enough range for most people.

This explains why LFP battery sales are surging globally and now account for close to 30% market share. Most auto OEMs in China offer LFP battery EVs and globally Tesla Inc. (NASDAQ: TSLA), Ford Motor Company (NYSE: F), Volkswagen AG (Xetra: VOW3 | OTCPK: VWAGY), Rivian Automotive, Inc. (NASDAQ: RIVN), Mercedes-Benz Group AG (Xetra: MBG | OTCPK: MBGAF), Hyundai Motor Co. Ltd. (KRX: A0053850 | OTC: HYMTF), and others are also recently embracing the technology.

FIGURE 1: Tesla Model 3 RWD comes with an LFP battery

The IEA Global EV Outlook 2023 states:

“Lithium iron phosphate (LFP) cathode chemistries have reached their highest share in the past decade. This trend is driven mainly by the preferences of Chinese OEMs. Around 95% of the LFP batteries for electric LDVs went into vehicles produced in China, and BYD alone represents 50% of demand. Tesla accounted for 15%, and the share of LFP batteries used by Tesla increased from 20% in 2021 to 30% in 2022…….LFP batteries contrast with other chemistries in their use of iron and phosphorus rather than the nickel, manganese and cobalt found in NCA and NMC batteries. The downside of LFP is that the energy density tends to be lower than that of NMC. LFP batteries also contain phosphorus, which is used in food production. If all batteries today were LFP, they would account for nearly 1% of current agricultural phosphorus use by mass, suggesting that conflicting demands for phosphorus may arise in the future as battery demand increases.“

In the next part of the article, we shift our focus to a company poised to supply the phosphate (“P”) in LFP batteries.

First Phosphate Corp.

First Phosphate Corp. (CSE: PHOS | FSE: KD0) is the only publicly-listed mineral development company that is fully dedicated to extracting and purifying phosphate for the production of cathode active material for the LFP battery industry.

The Company plans to vertically integrate from the mine source directly into the supply chains of major North American LFP battery producers that require battery-grade LFP cathode active material.

First Phosphate has more than 1,500 square kilometers (370,000 acres) of royalty-free land claims in the Saguenay-Lac-St-Jean Region of Quebec, Canada. The claims contain rare ‘anorthosite igneous phosphate’ rock that generally yields high-purity phosphate material devoid of high concentrations of harmful elements.

First Phosphate states:

“95% of the World’s Phosphate is found in heavy metal laden Sedimentary Rock.

Only 4% of the World’s Phosphate is found in Clean Igneous Carbonatite Rock.

Only 1% of the World’s Phosphate is found in Even Cleaner Igneous Anorthosite, found mostly in Quebec, Canada.”

This means that First Phosphate has a rare type of phosphate and hence a first mover advantage to become a western supplier of pure phosphate for the LFP cathode manufacturers.

Lac à l’Orignal, Mirepoix, Vanel Trilogy flagship project

First Phosphate’s flagship project (Lac à l’Orignal, Mirepoix, Vanel Trilogy) has an Indicated pit-constrained Mineral Resource of 15.8 million tonnes (Mt) at grades of 5.18% P₂O₅ (phosphorus pentoxide), 4.23% TiO₂ (titanium dioxide), and 23.90% Fe₂O₃ (iron oxide) and an Inferred pit-constrained Mineral Resource of 33.2 Mt at grades of 5.06% P₂O₅, 4.16% TiO₂ and 22.55% Fe₂O₃.

There is also resource upside potential at the Project and with more than 1500 km_² of additional phosphate-bearing land claims.

Metallurgical test work indicates an anticipated apatite grade of at least 38% P₂O₅ at over 90% recovery. The Lac à l’Orignal Deposit contains very low levels of potentially hazardous components, such as arsenic, heavy metals, and radioactive elements.

The Project site is accessible and usable in all four seasons, with heavy-haul road access, and is 140 km driving distance from the deep water, Port of Saguenay. There is access to clean Quebec hydroelectricity.

First Phosphate plans to develop midstream phosphate refining (purification) and LFP cathode active material production at the Port of Saguenay in Quebec.

The Company is currently working on its Preliminary Economic Assessment (“PEA”).

FIGURE 2: First Phosphate Corp.’s vertically integrated production plan to produce LFP cathode active material

FIGURE 3: Reasons to buy First Phosphate Corp.

Closing remarks

The trend towards a greater market share of LFP batteries used in EVs and energy storage is extremely strong.

In the past, the LFP demand and supply chain was entirely in China. This changed significantly in 2022 and continues to gain momentum in 2023 with almost all major Western auto OEMs embracing LFP battery technology for their standard-range electric cars.

Due to issues surrounding LFP patents, the West was largely unable to manufacture its own LFP batteries, but this has now changed. New LFP cathode plants are now being planned and soon will be built in the West. This includes Ford’s recently announced US$3.5 billion plan to build an LFP battery facility in the USA licensing CATL’s technology.

The high-purity phosphate supply chain will need to try to keep pace with these changes. Leading the charge is First Phosphate, trading on a market cap of C$21 million. Be sure to take a look at this company, preferably sooner rather than later.

In this InvestorIntel interview, Tracy Weslosky talks to Nano One Materials Corp.‘s (TSX: NANO) Founder, CEO, and Director, Dan Blondal about being awarded $10 million in non-dilutive, non-repayable contributions from Sustainable Development Technology Canada (“SDTC”).

Using the funds to fast-track the conversion of its Candiac lithium iron phosphate (“LFP”) facility (North America’s only LFP plant) to its patented One-Pot process, Dan explains how Nano One is progressing towards securing supply chains for the North American lithium-ion battery ecosystems.

Speaking about Nano One’s strategic partnerships with Rio Tinto, BASF, Umicore, CBMM, and undisclosed automotive OEMs, Dan discusses how the Candiac facility will help them accelerate licensing and offtake agreements that would then enable the Company to scale the facility larger and lead to commercial production and revenues.

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About Nano One Materials Corp.

Nano One Materials Corp (Nano One) is a clean technology company with a patented, scalable, and low-carbon intensity industrial process for the low-cost production of high-performance lithium-ion battery cathode materials. It employs approximately 120 people at its innovation and commercialization hubs in British Columbia and Québec, including the only LFP plant and production team in North America. It has strategic collaborations and partnerships, that include Rio Tinto, BASF, Umicore, CBMM, and various automotive OEMs.

Nano One’s technology is applicable to electric vehicles, energy storage, consumer electronics, and next-generation batteries in the global push for a zero-emission future. Its One-Pot process, its coated single crystal materials, and its Metal to Cathode Active Material (M2CAM®) technologies address fundamental performance needs and supply chain constraints; they also reduce equipment and raw material costs, operating expenses, and carbon intensity; and they eliminate a significant waste stream for a much-improved environmental footprint.

The Company aims to pilot and demonstrate its technology as turn-key CAM production solutions for license, joint venture, and independent production opportunities. This leverages Canadian talent, critical minerals, renewable energy, and a thriving ecosystem with access to large emerging markets in North America, Europe, and the Indo-Pacific region. Nano One has received funding from SDTC and the Government of Canada and the Government of British Columbia.

To learn more about Nano One Materials Corp., click here

Disclaimer: Nano One Materials Corp. is an advertorial member of InvestorIntel Corp.

This interview, which was produced by InvestorIntel Corp., (IIC), does not contain, nor does it purport to contain, a summary of all the material information concerning the “Company” being interviewed. IIC offers no representations or warranties that any of the information contained in this interview is accurate or complete.

This presentation may contain “forward-looking statements” within the meaning of applicable Canadian securities legislation. Forward-looking statements are based on the opinions and assumptions of the management of the Company as of the date made. They are inherently susceptible to uncertainty and other factors that could cause actual events/results to differ materially from these forward-looking statements. Additional risks and uncertainties, including those that the Company does not know about now or that it currently deems immaterial, may also adversely affect the Company’s business or any investment therein.

Any projections given are principally intended for use as objectives and are not intended, and should not be taken, as assurances that the projected results will be obtained by the Company. The assumptions used may not prove to be accurate and a potential decline in the Company’s financial condition or results of operations may negatively impact the value of its securities. Prospective investors are urged to review the Company’s profile on Sedar.com and to carry out independent investigations in order to determine their interest in investing in the Company.

If you have any questions surrounding the content of this interview, please contact us at +1 416 792 8228 and/or email us direct at [email protected].

Tracy Weslosky chats with Nano One Materials Corp.‘s (TSX: NANO) Founder, CEO, and Director, Dan Blondal, to discuss their recent Joint Development Agreement with Umicore. Nano One and Umicore have entered into a joint development agreement to improve the throughput and cost of cathode manufacturing with the goal of making Umicore’s cathode materials using Nano One’s patented M2CAM® One-Pot process. Umicore is a massive company in the battery materials space, with €2.1 billion (turnover of €13.8 billion) in revenue in the first half of 2022, making this announcement exciting for the Nano One team.

Dan goes on to say, “We can’t get to terawatt hours of batteries and electric cars in everybody’s driveways unless we solve some of the big problems associated with the scale up of this industry.” The agreement leverages both parties’ technologies for cathode materials to drive down cost, complexity, and environmental footprint. Nano One shareholders can anticipate seeing impacts on the bottom line in years, as the project is measured in multiple phases with go/no-go milestones.

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About Nano One Materials Corp.

Nano One Materials Corp (Nano One) is a clean technology company with a patented, scalable and low carbon intensity industrial process for the low-cost production of high-performance lithium-ion battery cathode materials. It employs approximately 120 people at its innovation and commercialization hubs in British Columbia and Québec, including the only LFP plant and production team in North America. It has strategic collaborations and partnerships, that include Rio Tinto, BASF, Umicore, CBMM and various automotive OEMs.

Nano One’s technology is applicable to electric vehicles, energy storage, consumer electronics and next generation batteries in the global push for a zero-emission future. Its One-Pot process, its coated single crystal materials, and its Metal to Cathode Active Material (M2CAM®) technologies address fundamental performance needs and supply chain constraints; they also reduce equipment and raw material costs, operating expenses, and carbon intensity; and they eliminate a significant waste stream for a much-improved environmental footprint.

The company aims to pilot and demonstrate its technology as turn-key CAM production solutions for license, joint venture and independent production opportunities. This leverages Canadian talent, critical minerals, renewable energy, and a thriving ecosystem with access to large emerging markets in North America, Europe and the Indo-Pacific region. Nano One has received funding from the Government of Canada and Government of British Columbia.

To learn more about Nano One Materials Corp., click here

Disclaimer: Nano One Materials Corp. is an advertorial member of InvestorIntel Corp.

This interview, which was produced by InvestorIntel Corp., (IIC), does not contain, nor does it purport to contain, a summary of all the material information concerning the “Company” being interviewed. IIC offers no representations or warranties that any of the information contained in this interview is accurate or complete.

This presentation may contain “forward-looking statements” within the meaning of applicable Canadian securities legislation. Forward-looking statements are based on the opinions and assumptions of the management of the Company as of the date made. They are inherently susceptible to uncertainty and other factors that could cause actual events/results to differ materially from these forward-looking statements. Additional risks and uncertainties, including those that the Company does not know about now or that it currently deems immaterial, may also adversely affect the Company’s business or any investment therein.

Any projections given are principally intended for use as objectives and are not intended, and should not be taken, as assurances that the projected results will be obtained by the Company. The assumptions used may not prove to be accurate and a potential decline in the Company’s financial condition or results of operations may negatively impact the value of its securities. Prospective investors are urged to review the Company’s profile on Sedar.com and to carry out independent investigations in order to determine their interest in investing in the Company.

If you have any questions surrounding the content of this interview, please contact us at +1 416 792 8228 and/or email us direct at [email protected].

Unfortunately, a publicly traded company can’t do much about the timing of news as they are required to disclose material information pretty much immediately. When you put out a press release on December 21st, when everyone is seemingly obsessed with holiday travel issues and winter storm warnings, it can potentially fly under the radar of investors. Pile on a market that was visited by the Grinch for all but one day in the last two weeks (ironically the best day in that period for the S&P 500 was Dec 21) and you can see how there is the potential for a very meaningful piece of news to appear to get lost in the shuffle.

I’m referring to recent news from Nano One Materials Corp. (TSX: NANO) that stated it had entered into a Joint Development Agreement (JDA) for production process technologies for cathode active materials (CAM) for lithium-ion batteries with Umicore.

This is a really big deal for Nano One, but before I explore why that’s the case let’s look at why I think the market appears to have either missed it or ignored it. Sure the stock rallied almost 8% the day the news came out, but as I noted above, it was a good day for the market overall and many stocks saw substantial gains that day. In the case of Nano One, the volume traded that day was not out of the ordinary, and the share price has subsequently sold off to below where it was trading when this news first came out. More telling (at least to me), is that there isn’t a noticeably above average trading volume day since this news. Yes, overall market volume has been below average for the last few days, but if a company puts out material news, somebody will take notice, and it appears (based on trading volume) no one has.

At this point, you might be thinking I’m the one missing the point and perhaps the news isn’t as big a deal as I’m making it out to be. I can live with that but I’ll let you be the judge as I flesh out what this could mean for Nano One.

Let’s start with who the JDA was signed with – Umicore. Belgium-based Umicore SA is a significant player in the battery materials world, with revenues of €2.1 billion (turnover of €13.8 billion) in the first half of 2022 and currently employs 11,350 people. It is a leading circular materials technology company with an extensive expertise in the fields of material science, chemistry, and metallurgy. Umicore is the largest producer of cathode material outside of Asia, and they are far and away the Western world’s largest recycler of technology metals. They are a dominant player in LCO batteries and nickel rich cathode materials. Canadian readers may recall the July 13^th announcement of plans to build a C$1.5 billion battery supply chain plant near Kingston, Ontario. Additionally, Umicore has a joint venture with Volkswagen AG to build precursor and cathode material production capacities in Europe to supply Volkswagen AG’s European battery cell production.

And what could all this mean for Nano One? If the JDA is successful in increasing throughput for high nickel NMC cathode active materials while reducing costs and environmental footprint, we could see Umicore making their cathode materials using Nano One’s patented M2CAM® One-Pot process technology. Now you can see why it’s important to understand who Umicore is and what they’ve got going on. This could be huge for Nano One, albeit both the Kingston facility and the Volkswagen joint venture aren’t slated to be in production until 2025.

Nevertheless, Nano One is on a roll and continues to make material progress. When I last discussed Nano One in August, I commented on how years of hard work was starting to come together and that momentum was starting to snowball. At the time they had recently acquired 100% of the shares of Johnson Matthey Battery Materials Ltd. located in Candiac, Québec, signing a joint development agreement for lithium-ion battery materials with industry giant BASF, and announced a US$10 million equity investment by one of the world’s largest mining companies, Rio Tinto. This latest deal with Umicore brings further credibility to Nano One and signals that this well funded (almost C$46 million in working capital), C$235 million market company appears to be headed in the right direction.

Every once in a while, something that you have been working on, seemingly forever, starts to come together and that momentum starts to snowball. Today we are going to discuss a company that recently announced Q2 results with several exciting highlights that are the result of many years of hard work and determination. And although this article isn’t part of the critical minerals series, this company is inextricably linked to EV batteries, the processing of critical minerals and has already received funding from the Canadian Federal Government as well as the National Research Council of Canada Industrial Research Assistance Program and is engaged in the Mines-to-Mobility initiative. And if that isn’t enough of a teaser for you, their stock price has rallied over 140% since hitting its 52-week low in mid-May. It has been a solid couple of months, to say the least.

The company that has been on a pretty good roll of late is Nano One Materials Corp. (TSX: NANO), a clean technology company with a patented, scalable and low carbon intensity industrial process for the low-cost production of high-performance lithium-ion battery cathode materials. The technology is applicable to electric vehicle, energy storage, consumer electronic and next generation batteries in the global push for a zero-emission future. Nano One’s One-Pot process, its coated nanocrystal materials and its Metal to Cathode Active Material (M2CAM) technologies addresses fundamental performance needs and supply chain constraints while reducing costs and carbon footprint.

The second quarter news flow began in late May with the acquisition of 100% of the shares of Johnson Matthey Battery Materials Ltd. located in Candiac, Québec. The acquisition included the team, facilities, equipment, land and other assets, with highlights of the deal being:

• A team with more than 360 years of scale-up and commercial production know-how
• Team and facilities proven in supplying tier 1 cell manufacturers for automotive
• LFP facility and land strategically located near Montréal and operational since 2012
• Facility and equipment that can serve Nano One’s process needs with room to expand
• Expedites Nano One business strategy for LFP and other battery materials

The fully funded C$10.25 million deal is strategically located and has the benefit of access to a North American ecosystem that will serve the broader global community with cost-effective, resilient, and environmentally sustainable cathode materials. If you’ve been following my critical minerals series you’ll recognize that this is an opportunistic deal that is the right asset in the right location at the right time.

Nano One quickly followed up with another, even more important (in my opinion), corporate announcement less than a week later by signing a joint development agreement (JDA) for lithium-ion battery materials with industry giant BASF. The JDA will see the companies co-develop a process with reduced by-products for commercial production of next-generation cathode active materials (CAM), based on BASF’s HED^TM-family of advanced CAM and using Nano One’s patented One-Pot process and metal direct to CAM (M2CAM^®) technologies. The multi-phase agreement includes a detailed commercialization study for pre-pilot, pilot and scaled up production. BASF, a global leader in chemistry and high-performance lithium-ion battery cathode materials, has recognized Nano One’s advanced technology that has the potential to improve the product performance of BASF’s high-performance CAM and further simplify the synthesis of battery materials.

And if all the above wasn’t validation enough that Nano One has finally made it to the big leagues, less than 2 weeks after the BASF news the company announced a US$10 million equity investment by one of the world’s largest mining companies, Rio Tinto. In addition to the investment, Rio Tinto has agreed to enter into a strategic partnership to provide iron and lithium products, all of which will accelerate Nano One’s multi-cathode (multi-CAM) commercialization strategy and support cathode active materials (CAM) manufacturing in Canada for a cleaner and more efficient battery supply chain for North American and overseas markets. The collaboration agreement includes a study of Rio Tinto’s battery metal products, including iron powders from the Rio Tinto Fer et Titane facility in Sorel-Tracy, Québec, as feedstock for the production of Nano One’s cathode materials, which dovetails nicely with the first deal noted above.

Nano One finished Q2 with cash and cash equivalents of C$48 million, which represents roughly 14% of their C$343 million market cap. With abundant capital to deploy, plenty of tailwinds for the industry as a whole, and a team with ample experience in financing, capital growth, technology management, chemistry, engineering, materials science, batteries, and intellectual property, it seems the company is really hitting its stride. I dare say, based on the recent news flow, there could be a lot more to come from Nano One.

In this InvestorIntel interview with host Byron W. King, Nano One Materials Corp.’s (TSX: NANO | OTC: NNOMF | FSE: LBMB) CEO, Director & Founder Dan Blondal provides an update on Nano One’s patented One-Pot process and metal-direct-to-cathode-active-material (M2CAM) technology for production of lithium-ion battery cathode materials.

In the interview, which can also be viewed in full on the InvestorIntel YouTube channel (click here), Dan Blondal talks about the versatility of Nano One’s One-Pot process which is suited for multiple battery chemistries like lithium iron phosphate (LFP), nickel-rich (NMC), and manganese-rich (LNMO) cathode materials. Dan explains how Nano One’s M2CAM technology eliminates 100% of the sulphate waste in traditional standard lithium-ion battery cathode manufacturing to reduce cost, complexity, and carbon footprint of the process.

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About Nano One Materials Corp.

Nano One Materials Corp. (Nano One) is a clean technology company with a patented, scalable and low carbon intensity industrial process for the low-cost production of high-performance lithium-ion battery cathode materials. The technology is applicable to electric vehicle, energy storage, consumer electronic and next generation batteries in the global push for a zero-emission future. Nano One’s One-Pot process, its coated nanocrystal materials and its Metal to Cathode Active Material (M2CAM) technologies address fundamental performance needs and supply chain constraints while reducing costs and carbon footprint. Nano One has received funding from various government programs and the current “Scaling of Advanced Battery Materials Project” is supported by Sustainable Development Technology Canada (SDTC) and the Innovative Clean Energy (ICE) Fund of the Province of British Columbia.

To learn more about Nano One Materials Corp., click here

Disclaimer: Nano One Materials Corp. is an advertorial member of InvestorIntel Corp.

This interview, which was produced by InvestorIntel Corp., (IIC), does not contain, nor does it purport to contain, a summary of all the material information concerning the “Company” being interviewed. IIC offers no representations or warranties that any of the information contained in this interview is accurate or complete.

This presentation may contain “forward-looking statements” within the meaning of applicable Canadian securities legislation. Forward-looking statements are based on the opinions and assumptions of the management of the Company as of the date made. They are inherently susceptible to uncertainty and other factors that could cause actual events/results to differ materially from these forward-looking statements. Additional risks and uncertainties, including those that the Company does not know about now or that it currently deems immaterial, may also adversely affect the Company’s business or any investment therein.

Any projections given are principally intended for use as objectives and are not intended, and should not be taken, as assurances that the projected results will be obtained by the Company. The assumptions used may not prove to be accurate and a potential decline in the Company’s financial condition or results of operations may negatively impact the value of its securities. Prospective investors are urged to review the Company’s profile on Sedar.com and to carry out independent investigations in order to determine their interest in investing in the Company.

If you have any questions surrounding the content of this interview, please contact us at +1 416 792 8228 and/or email us direct at [email protected].

Imperial Mining’s world-class Crater Lake Scandium-Rare Earth Project in Quebec will soon complete a PEA

There have been some great news releases recently of new lithium ion battery materials projects coming to Quebec, Canada. The first was BASF’s cathode active materials and recycling facility planned to be located in Bécancour, Quebec. The second was General Motors and POSCO Chemical’s $400 million facility to produce cathode active materials for vehicle batteries, also in Bécancour, Quebec. It is looking like Bécancour in Quebec is to become Canada’s battery cathode manufacturing hub. This bodes well for the development of an  EV manufacturing industry in Quebec at some stage.

Today’s company has key EV related metals, scandium and the magnet rare earths, as well as gold exploration; with three projects located in Quebec, Canada.

Imperial Mining Group Ltd’s. (TSXV: IPG | OTCQB: IMPNF) (Imperial) three projects in Quebec are the:

• Crater Lake Scandium-Rare Earth Project,
• the Opawica Project (gold exploration), and the
• La Roncière Project (gold exploration)

Imperial has progressed significantly over the past 6 months, announcing a Maiden Resource, drill results, and commencement of a PEA at their 100% owned Crater Lake Scandium-Rare Earth Project. Today we will look at the Crater Lake project and at what’s next for the Company.

Crater Lake Scandium-Rare Earth Project

Maiden Resource

As announced in September 2021, Imperial’s NI 43-101 Maiden Resource estimate for the TG Scandium-Rare-Earth Zone at its Crater Lake Scandium-Rare Earth Project is an Indicated Resources of 7.3 million tons grading 282 g/t Sc₂O₃ and Inferred Resources of 13.2 million tonnes grading 264 g/t Sc₂O_3.  This is an excellent result putting the Crater Lake Project among the top scandium resources in the world. The Resource estimate also highlighted valuable magnet rare earths Nd, Pr, Dy and Tb. The Resource remains open to further expansion.

Maiden Resource estimate and Resource Model for the TG Zone at the Crater Lake Scandium-Rare Earth Project

Source: Imperial Mining Group company presentation

Recent drill results

Since the Maiden Resource, Imperial has had some stellar drill results including:

• 115.8 m (379.9’) grading 252 g/t scandium oxide (Sc₂O₃) at the STG Zone. There are also elevated levels of total rare earth oxides plus yttrium (TREO+Y) of up to 0.475 %. The STG Zone is a new discovery, 2km south of the TG North Lobe Resource.

PEA

Work on a 43-101 Preliminary Economic Assessment (PEA) on the TG Zone scandium-rare earth zone resource is advancing well, despite some delays. The PEA results were targeted for Q1, 2022, but now look like being in Q2, 2022.

Imperial’s Crater Lake Project location map and highlights

Source: Imperial Mining Group company presentation

Next steps and targets

• Q2, 2022 – PEA results for the Crater Lake Scandium-Rare Earth Project to be announced.
• Late June 2022 – A 2,500m drill program on the TG Zone (Northern Lobe and Southern Lobe) to commence.
• End Q3, 2022 – Hydrometallurgical flowsheet development program results due.
• H2, 2022 – An update to the previous 43-101 Maiden Resource Estimate of the TG Zone.
• Late 2022 – Engineering design for Imperial’s pilot plant program.
• Mid‐2023: Definitive Feasibility Study (DFS), IBA, receipt of construction
  permits.
• Late Q4, 2025/Early Q1 2026: Delivery of first product (subject to permits and funding).
  

Closing remarks

Imperial Mining Group is making good progress and has already delivered a solid Maiden Resource at their flagship 100% owned Crater Lake Scandium-Rare Earth Project. The PEA is expected to be out soon in Q2, 2022, with numerous catalysts to follow. Meanwhile, the magnet rare earths prices keep rising. All of this bodes well for the Company, as shown by the successful recent raise of C$3 million and a C$245,355 Quebec Government award to optimize their Crater Lake Scandium recovery process.

Scandium is the rarest of the “rare earth” metals. Small additions of scandium to alloys with aluminum give properties of corrosion resistance, tensile strength, ductility, and low weight that make them ideal for weight reduction and safety in large scale battery boxes for EVs and in load bearing aircraft parts.

Imperial Mining Group trades on a market cap of C$26 million and looks to be in the right place at the right time. And let’s not forget their gold exploration potential. Stay tuned.