During an engaging interview at PDAC 2024 with Tracy Weslosky of InvestorNews, Dan Blondal, CEO, Director, and Founder of Nano One Materials Corp. (TSX: NANO), shared insights into the company’s innovative strides and strategic partnerships, notably with Sumitomo Metal Mining. Blondal described Sumitomo as a “fantastic class one partner” with extensive experience in cathode manufacturing and technology, highlighting the partnership’s role in enhancing Nano One’s position in the battery materials market. With a robust patent portfolio of 40 patents and over 50 pending, Blondal emphasized the importance of continuous innovation in strengthening the company’s technological leadership and shareholder value. Government support, particularly from Sustainable Development Technology Canada (SDTC), totaling around $25 million in funding, underscores the strong backing Nano One has received, further solidifying its stance in the industry.

Blondal highlighted three competitive advantages of Nano One: its unique position with the only North American LFP production facility outside Asia, its one-pot process that reduces cost, complexity, and environmental impact, and a strategic expansion plan aiming to deploy its technology globally through a “Design-Once-Build-Many” approach. These strengths, according to Blondal, place Nano One in a prime position to capture a significant share of the growing LFP market, which is crucial for electric vehicles and energy storage solutions. The feasibility study for Nano One’s first commercial plant and the progress at its Candiac pilot plant exemplifies the company’s commitment to scaling up its technology to meet global demands efficiently.

Blondal’s vision for 2024 emphasizes expanding Nano One’s customer base, advancing a feasibility study to solidify financial and operational plans for their commercial plant, and securing critical raw material supplies. This approach highlights the company’s strategy to scale its patented technology, aiming for a significant impact on the electric vehicle and energy storage sectors, supported by robust partnerships and government engagement.

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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 Sumitomo Metal Mining, 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. The Company 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.

Welcome to the latest issue of the Technology Metals Report (TMR), brought to you by the Critical Minerals Institute (CMI). In this edition, we compile the most impactful stories shared by our members over the past week, reflecting the dynamic and evolving nature of the critical minerals and technology metals industry. Among the key stories featured in this report are President Joe Biden’s initiatives to restrict Chinese electric vehicles (EVs) citing national security concerns, the American Council for an Energy Efficient Economy’s report naming the Toyota Prius Prime SE as the greenest car in America, and insights into the lithium market with investors remaining keen despite a price plunge. We also delve into the broader context of these developments, including the potential solution to the rare earth crisis through tetrataenite, BYD’s exploration for a factory location in Mexico, and the ongoing challenges and opportunities facing the global electric vehicle and critical minerals markets.

This week’s report also highlights various strategic collaborations and developments, including the significant challenge posed by China’s EV industry to Detroit’s Big Three automakers and Australia’s navigation of a critical minerals market meltdown amidst declining prices for key exports such as iron ore, nickel, and lithium. Furthermore, we cover Lynas Rare Earths Ltd.’s (ASX: LYC) call for government vigilance in the volatile nickel market, China’s lithium-ion battery industry facing excess inventory and production capacity issues, Energy Fuels Inc.’s (NYSE American: UUUU | TSX: EFR) record net income and uranium production ramp-up, and Mercedes-Benz’s adjustment of its electrification goal. These stories underscore the rapidly changing landscape of the technology metals and critical minerals industry, spotlighting strategic collaborations, market dynamics, and the critical role of innovation and policy in shaping the future of sustainable technology and energy.

Biden Calls Chinese Electric Vehicles a Security Threat (February 29, 2024, Source) — President Joe Biden has initiated measures to potentially restrict the entry of internet-connected Chinese electric vehicles (EVs) into the U.S. market, citing national security concerns over their ability to transmit sensitive data to Beijing. The Commerce Department has launched an investigation into these security threats, marking the beginning of a broader strategy to prevent low-cost Chinese EVs from undermining U.S. automakers. This move comes amid growing tensions between the U.S. and China over trade and technology, with Biden emphasizing the need to protect the domestic auto industry from unfair Chinese practices. The investigation, a result of discussions with major automakers and unions, could lead to new regulations on vehicles using Chinese software, which is feared to collect extensive data on American users. This action is part of Biden’s wider efforts to bolster U.S. technology restrictions against China and maintain competitiveness in the global auto market.

The ‘greenest’ car in America might surprise you (February 29, 2024, Source) — A new report from the American Council for an Energy Efficient Economy challenges the common perception that electric vehicles (EVs) are the greenest cars in America by naming the Toyota Prius Prime SE, a plug-in hybrid, as the top environmentally friendly vehicle. The Prius Prime SE can travel 44 miles on electricity before switching to hybrid mode, combining electric and gasoline power. The report assesses over 1,200 vehicles on their road and manufacturing emissions, including pollutants beyond carbon dioxide. Despite the growing market for EVs, the report emphasizes that a car’s green credentials depend on factors like weight, battery size, and overall efficiency, not just its electric capabilities. Plug-in hybrids like the Prius Prime offer a balance for drivers by allowing short electric commutes and longer gas-powered trips, presenting a practical alternative amidst America’s evolving charging infrastructure. Critics argue that fully electric vehicles remain the best option for environmental benefits, especially as renewable energy sources increase. However, the report suggests the importance of offering consumers a range of environmentally friendly choices to suit different needs.

Lithium Investors Are Looking Beyond Price Plunge, Chile Minister Says (February 28, 2024, Source) — Despite a recent downturn in lithium prices, investors remain keen on new lithium projects in Chile, as confirmed by the country’s Mining Minister, Aurora Williams. This interest is fueled by the long-term prospects associated with the global shift towards renewable energy and electric vehicles, rather than short-term price fluctuations. Chile, home to the world’s largest lithium reserves, has seen prices drop significantly since the introduction of a new public-private partnership model aimed at attracting investment while ensuring major deposits remain under state control. Despite this, major international companies like Rio Tinto Group and Tsingshan Holding Group have continued discussions with Chilean authorities, demonstrating a sustained interest in the sector. Chile plans to offer exploration rights in certain salt flats, with the possibility of private investors gaining either minority or majority stakes depending on the strategic importance of the area. This initiative is part of a broader effort to maintain Chile’s status as a key player in the global lithium market, amidst growing competition and as the country also seeks to bolster its position in the copper industry.

Navigating the Climate Change Storm of ESG Withdrawal and Climate Change Commitment (February 28, 2024, Source) — Recent decisions by JPMorgan, State Street, and Pimco to exit Climate Action 100+ (CA+), amid political pressures, have sparked debate over the fate of global ESG initiatives. Nevertheless, CA+’s extensive network, including over 700 members and its collaborations with high-emission companies for a low-carbon transition, exemplifies the resilience of ESG efforts. Despite these withdrawals, the broader commitment to ESG principles, especially in the extractive industries with initiatives like Copper Mark and Responsible Steel, remains robust. This commitment is further reinforced by regulatory measures against greenwashing and heightened public activism for environmental protection and equitable benefits. These trends underscore that, far from diminishing, ESG remains a crucial driver of corporate strategy and societal expectations, suggesting a sustained impact on global business practices.

Tetrataenite as a solution to the rare earth crisis (February 28, 2024, Source) — The rare earth crisis, pivotal for modern technologies such as electric motors and wind turbines, stems from the scarcity and environmental impact of mining rare earth elements like yttrium and neodymium. As demand for these materials grows due to their importance in reducing fossil fuel reliance and combating climate change, shortages are anticipated. A potential breakthrough in 2023 by an international research team suggests tetrataenite, a meteorite mineral with similar magnetic properties to rare earths, as a solution. Unlike its natural slow formation in space, the team discovered a method to synthesize tetrataenite on Earth rapidly using common materials like iron, nickel, and phosphorous, potentially offering an alternative to address the rare earth crisis.

Chinese automaker BYD looking for Mexico plant location, executive says (February 28, 2024, Source) — Chinese electric vehicle manufacturer BYD is scouting locations in Mexico for a new factory, targeting the local market to enhance its share, as stated by BYD Americas CEO Stella Li. With an annual production capacity of 150,000 cars, the company plans to finalize the plant location by year-end. Recently surpassing Tesla in global EV sales, BYD’s expansion into Mexico signals a potential competitive challenge to U.S. auto companies, amidst concerns from the Alliance for American Manufacturing about low-cost Chinese cars impacting the U.S. auto sector’s viability. BYD’s strategy focuses on serving the Mexican market, particularly eyeing central and southern regions for factory sites. The company’s cost competitiveness is attributed to early investments in EV technology and extensive vertical integration. BYD also announced the launch of its Dolphin Mini EV in Mexico, priced significantly lower than the cheapest Tesla, aiming to make electric cars accessible to more Mexican consumers. However, challenges remain, such as the limited network of charging stations in Mexico.

China’s Electric Vehicles Are Going to Hit Detroit Like a Wrecking Ball (February 27, 2024, Source) — China’s electric vehicle (EV) industry, led by automakers like BYD, poses a significant challenge to Detroit’s Big Three (Ford, General Motors, and Stellantis). Despite recent profits and optimistic forecasts for 2024, these American giants are struggling with their EV sales goals amidst the rapid emergence of affordable and efficient Chinese EVs. BYD, in particular, has sold millions of electrified vehicles, expanding its global manufacturing footprint to meet increasing demand. The competitive pricing and technological efficiency of Chinese EVs underscore China’s evolving industrial capabilities, transitioning from basic manufacturing to complex, high-tech production including cars and batteries. This shift represents a broader challenge to American automakers, who must navigate a changing market landscape while addressing structural vulnerabilities in their business models, heavily reliant on sales of trucks and SUVs to a niche market. The U.S. government faces a delicate balance of supporting domestic industries through subsidies and trade restrictions while fostering a competitive environment that encourages innovation and adaptation to the global shift towards electrification.

Australia’s Precarious Position: Navigating a Critical Minerals Market Meltdown (February 26, 2024, Source) — Australia is at a critical juncture, facing a significant downturn in the prices of key exports such as iron ore, nickel, and lithium, which underscores the country’s vulnerability due to its heavy reliance on these commodities and its dependence on China, its main buyer. The global implications of this market meltdown are profound, with the economic viability of mining and refining operations being challenged, as demonstrated by Lynas Rare Earths Ltd.’s (ASX: LYC) struggles at its Kalgoorlie ore processing plant. The decline in the nickel industry has uncovered manipulations of market prices, reflecting China’s strategic dominance over the global supply chain for rare earth elements and other critical minerals. In response, Australia is attempting to reduce dependence on Chinese processing by offering subsidies to local mining and processing operations, while also dealing with the economic repercussions of collapsing metal prices. This situation necessitates a strategic reevaluation of Australia’s role in the global minerals market, exploring options like underwriting national processing facilities to enhance the value of its mineral exports and diversify its economic base amidst changing global trade dynamics.

Rare earths leader Lynas warns govt on nickel fallout (February 26, 2024, Source) — Lynas Rare Earths Ltd. (ASX: LYC), a leading rare earths producer, has highlighted the importance of government vigilance in response to the nickel market’s volatility and its broader impact on the mining sector. The company reported a 74% decrease in net profit to $39.5 million for the half-year ending December 31, attributing this decline to subdued prices for critical minerals, largely due to China’s dominance in supply. Despite the market challenges, Lynas, the largest producer of rare earths outside China, emphasizes its strategy of being a low-cost producer to sustain profitability even in a weak market. Lynas is expanding its operations, including projects in the United States, and making contingency plans for potential disruptions in supply chains, such as sourcing sulphuric acid due to the possible closure of BHP’s nickel refinery. The company’s experience underscores the interconnected nature of the minerals industry and the need for strategic planning and government engagement to ensure resilience and competitiveness, especially in securing sovereign supplies of critical minerals.

China’s lithium-ion battery industry faces excess inventory, production capacity as EV market downshifts: industry analysts (February 25, 2024, Source) — China’s lithium-ion battery industry, pivotal in the global EV market, is navigating through a phase of excess inventory and production capacity due to decreased demand for electric vehicles. Analysts predict a challenging year ahead, with companies facing losses amidst a price war triggered by overcapacity. The situation has led to significant price drops in lithium carbonate and battery cells, exacerbated by reduced subsidies for EVs. With production far exceeding installation into products, further price declines are expected. The market is undergoing a clearing phase, with expectations of breaking even next year. Investment in new capacity is likely to decelerate. Despite a forecasted slowdown in domestic EV sales growth, the global lithium market faces a ballooning excess supply, raising concerns over the long-term growth prospects for lithium. Top battery and lithium mining firms may only see profitability by 2025, as the industry grapples with these challenges.

Energy Fuels Announces 2023 Results: Record Net Income and Earnings per Share, Uranium Production Ramp-Up, and Near-Term Production of Separated Rare Earth Elements (February 23, 2024, Source) — In 2023, Energy Fuels Inc. (NYSE American: UUUU | TSX: EFR) announced significant achievements including a record annual net income of nearly $100 million and the commencement of uranium production across three mines, aiming for a production rate of 1.1 to 1.4 million pounds per year by mid-to-late 2024. The company highlighted a strong balance sheet with over $220 million in liquidity and no debt. Revenue was primarily driven by uranium sales, with significant contributions from rare earth elements (REE) and vanadium. The sale of the Alta Mesa project funded investments in uranium and REE production. Energy Fuels is preparing for the near-term production of separated REEs, anticipating to become a leading producer outside of China. With a focus on growth, the company is also exploring expansions into additional uranium and REE sources, aiming to significantly increase production capabilities while capitalizing on market opportunities in both sectors.

Mercedes-Benz delays electrification goal, beefs up combustion engine line-up (February 22, 2024, Source) — Mercedes-Benz announced a postponement of its electrification target by five years, aiming for electrified vehicles to comprise up to 50% of its sales by 2030, a shift from the initial 2025 goal focused mainly on all-electric cars. This adjustment reflects a broader trend among automakers recognizing the slower-than-anticipated adoption of electric vehicles (EVs), as investments in EV technology and capacity have surpassed current demand. CEO Ola Kaellenius highlighted that even in Europe, a complete switch to electric vehicles by 2030 is unlikely, noting that EVs currently represent a small fraction of total sales. Mercedes-Benz reassured investors and customers of its commitment to refining its combustion engine vehicles alongside its EV ambitions, with plans for a significant lineup refresh by 2027. The announcement, coupled with a €3 billion share buyback program, positively impacted the company’s stock, which saw a 5.9% increase. However, challenges such as economic slowdowns, supply chain issues, and geopolitical tensions have led the automaker to anticipate lower sales and reduced profitability for 2024.

Investor.News Critical Minerals Media Coverage:

• February 28, 2024 – Navigating the Climate Change Storm of ESG Withdrawal and Climate Change Commitment https://bit.ly/3SXymnP
• February 26, 2024 – Australia’s Precarious Position: Navigating a Critical Minerals Market Meltdown https://bit.ly/3uWQoOZ

Investor.News Critical Minerals Videos:

• February 29, 2024 – PDAC President Raymond Goldie Bolsters Toronto’s Status as Global Mining Investment Capital in Lead-Up to PDAC 2024 https://bit.ly/42VBDss

Critical Minerals IN8.Pro Member News Releases:

• March 1, 2024 – Voyageur Pharmaceuticals Ltd. Announces Closing of Private Placement https://bit.ly/432eRzi
• February 29, 2024 – Ucore Rare Metals to Present at the 2024 PDAC Conference https://bit.ly/3TglcUa
• February 28, 2024 – First Phosphate and Craler Sign MOU for the Development of Global Logistical Competencies to and from the Saguenay-Lac-St-Jean region of Quebec, Canada https://bit.ly/49xD5DI
• February 27, 2024 – American Rare Earths to present at two leading industry conferences in March PDAC and International Battery Seminar https://bit.ly/49uaFuu
• February 27, 2024 – Nano One Commences Feasibility Study for First Commercial LFP Plant and “Design-Once-Build-Many” Growth Strategy https://bit.ly/3TaFtum
• February 27, 2024 – Media Advisory – Neo Performance Materials Inc. Fourth Quarter 2023 Earnings Release & Conference Call https://bit.ly/3uSkeUQ
• February 26, 2024 – Appia Reports High-Grade Total Rare Earth Oxide Results up to 22,339 ppm or 2.23% on Diamond Drill Hole #1 Within Target IV at PCH IAC Project, Brazil https://bit.ly/48DKQHe
• February 26, 2024 – Kraken Energy Commences Drilling at Harts Point & Provides Corporate Update https://bit.ly/49r02bS

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.

Nano One Materials Corp. (TSXV: NNO) reported this week that its technology performed well in solid-state battery testing with the University of Michigan (UM).

UM’s battery laboratories are exploring various aspects of battery components, designs, interfaces, and assembly of solid-state electrochemical batteries.

Nano One focuses on its patented process for the production of cathode materials used in lithium-ion batteries and is collaborating with the UM on the development of innovative solid-state battery technology.

Richard Laine, Ph.D., Professor of Materials Science and Engineering at the UM commented, “Initial results from our evaluations show that Nano One’s HVS materials perform well with our innovative agricultural waste derived electrolytes and we look forward to advancing our collaboration to demonstrate a viable solid-state battery configuration.”

Cathode Key for Power and Reducing Costs

The cathode determines the battery’s capacity and voltage, and can comprise 20% or more of the costs of a lithium-ion battery. Nano One has developed technology for the low-cost production of high-performance lithium-ion battery cathode materials used in electric vehicles, energy storage devices, and consumer electronics.

Nano One has programs underway with multiple academic research groups, automotive equipment manufacturers, and battery manufacturers to test its lithium-nickel-manganese-cobalt-oxide (NMC) and high voltage spinel (HVS), also known as lithium-nickel-manganese-oxide (LNMO), cathodes in different solid-state battery systems.

LNMO cathodes have garnered industry attention by providing a low-cost, fast charging, and cobalt-free solution, key in cost-effective, large-scale commercial applications.

In December 2020, Nano One announced that it entered into a cathode evaluation agreement with an undisclosed, American-based, car manufacturer. This agreement is in addition to the deals announced with Volkswagen, Pulead, Saint Gobain, and an undisclosed Asian cathode producer.

Nano One’s proprietary “One Pot” furnace process creates a coated single crystal powder that protects the cathode from side reactions while allowing the transfer of lithium ions between electrolyte and cathode.

In addition, the “One Pot” process offers the flexibility to use either lithium carbonate or lithium hydroxide as the reaction with the other metal inputs is indifferent to the type of lithium input and produces a finished cathode powder when thermally processed in a furnace.

It is also an environmentally friendly process using limited water and produces no waste stream as it eliminates intermediate steps and by-products in the process.

The Basics of Battery Technology

Reduced to its basics, a lithium-ion battery consists of 4 components: (1) a Cathode, the source of the lithium ions, (2) an Anode, the storage area of released lithium ions, (3) the Electrolyte, the medium which helps the ions flow, and (4) the Separator that prevents contact between the Cathode and the Anode.

The chemical reaction creates a voltage potential between the cathode and the anode. The voltage is the electrical force from the power source, the higher the voltage, the more power it can send to the load, such as a motor.

A solid-state battery uses solid electrodes and a solid electrolyte, instead of liquid or gel electrolytes, found in conventional lithium-ion or lithium polymer batteries. As a solid-state battery can handle more charging and discharging cycles before degradation, it promises a longer lifetime.

In November 2020, Nano One reported that its HVS cathode when paired with a conventional electrolyte and a graphite anode achieved over 500 fast charge and discharge cycles at 45°C and also reached 1000 fast charge and discharge cycles at 25°C. These durability test results confirmed that its technology is stable at elevated operating temperatures required for automotive, power tools, and energy storage applications.

Cashed Up to Reach Commercialization

Recently, Nano One announced it received $4.46 million from the exercise of stock options and warrants since its last financial update dated October 1, 2020, and brings the company’s cash balance to approximately C$28 million, including $14.37 million the company raised in October 2020.

Final Thoughts

Nano One’s technology is well-positioned to capitalize on the opportunities in the battery technology industry as economies shift to electrification efforts from solar, wind, and electric vehicles to reduce greenhouse gas emissions from fossil fuels.

This week, the Toronto Stock Exchange (TSX) Venture Exchange’s named Nano One to its “2021 Venture 50”, an annual ranking of the top-performing companies on the exchange. Companies are selected based on share price appreciation, trading volume, and market capitalization growth. Nano One’s stock price is up almost 300% in the past year.

Even with the recent stock price increase, there is plenty of market opportunity for the company. Nano One estimates the global cathode market could reach US$27 billion by 2026 and the company is focusing on potential licensing partners for its technology that should mitigate some of the risks.

SOURCE:

Recently during PDAC 2019, Dan Blondal, CEO, Director and Founder of Nano One Materials Corp. (TSXV: NNO), shared updates on Nano One’s collaboration agreement with Pulead Technology with InvestorIntel’s Tracy Weslosky.

Dan Said: “We put a joint development agreement with Pulead in mid-January. They are a very prominent cathode producer in China supplying the lithium iron phosphate market and supplying the lithium cobalt oxide market as well. That’s the materials that go into your iPhones. Very exciting company to be working with. Pulead is the world’s largest producer of lithium iron phosphate. That’s the material that goes into electric buses, lower range electric vehicles…”

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 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).

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