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.

To access the complete interview, click here

Don’t miss other InvestorNews interviews. Subscribe to the InvestorNews YouTube channel by clicking here

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.

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.

To access the complete interview, click here

Don’t miss other InvestorNews interviews. Subscribe to the InvestorNews YouTube channel by clicking here

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.

Nano One Materials Corp. (TSX: NANO) operates the sole North American lithium iron phosphate (LFP) production facility located in Candiac, Quebec, with plans to convert the existing facility to the One-Pot process for production up to 2,000tpa by the end of 2024. The company will expand the production in Quebec to meet demand and its business model incorporates licensing and joint ventures for global expansion.

In an announcement on September 14, 2023, Nano One reported significant progress in demonstrating full commercial scale volumes from the Candiac facility. The company states:

“Recent One-Pot trials at the Candiac plant have yielded LFP at commercial scale with results mirroring lab performance. Transitioning to full commercial size reactors, Nano One’s LFP is ready for Q4 customer evaluations. Moreover, installation and optimization of the 200tpa reactors are ongoing.”

Additionally, Nano One recently announced a collaboration agreement with global cathode materials giant Sumitomo Metal Mining on September 25, 2023. This announcement included a strategic equity investment of C$16.9 million commitment and will undoubtedly provide potential opportunities in sales, licensing, and partnership opportunities. Notably, Sumitomo is a supplier of materials to Panasonic which in turn supplies Tesla with battery cells which shows the quality of their client lists.

Sumitomo’s established role in the sector as a leading miner, refiner, and cathode active materials producer solidifies the significance of this collaboration.

With global trends leaning towards the electrification of transport and clean energy, the demand for batteries and cathode materials is surging. Forecasts predict the cathode market in North America and Europe alone to reach US$85 billion by 2035, presenting unprecedented opportunities for emerging market players.

Nano One’s Business Strategy

While Nano One’s strategy remains versatile, the primary focus will be LFP production initially in Canada at the Candiac facility. Its business model includes licensing and joint ventures with partners for global expansion in jurisdictions like the US, Europe, and Asia.

In Conclusion

Nano One’s evolution from a minor participant to a significant player in the cathode materials sector is evident. Collaborations with industry leaders like Sumitomo, Rio Tinto and VW place them prominently on the map. The company currently boasts a market cap of C$320 million.

Canada in Focus

Canadian markets are showing signs of weakness as metal prices take a dip. Alongside this, U.S. stock index futures are experiencing a slip, with the market anticipating key economic data and awaiting remarks from Federal Reserve policymakers throughout the week.

European shares too are not performing optimally, with the STOXX 600 index seeing a pullback due to China-exposed shares. In the East, Japan’s Nikkei has displayed resilience, rebounding robustly as investors see potential in previously beaten-down stocks after the index’s tumultuous week. The metals market sees gold prices trickling down, given the U.S. dollar’s surge, which is attributed to predictions of sustained higher interest rates. Meanwhile, oil prices are climbing, reflecting concerns about a tightening supply, especially after Moscow’s surprising temporary fuel export ban.

A notable partnership emerges between Japan’s Sumitomo Metal Mining Co., Ltd. and Canada’s Nano One Materials Corp. (TSX: NANO). The former is investing C$ 16.9 million in Nano One, a company specializing in sustainable battery material production. The strategic partnership aims at enhancing global battery supply chains and developing cost-effective, environmentally-friendly battery cathode materials for EVs.

U.S. Market Updates

The U.S. market trajectory is heading downward as September wraps up. The Dow Jones, the S&P 500, and the Nasdaq Composite are all showing negative trends.

Labor tensions are evident in the automotive sector, with Ford Motor Company (NYSE: F) citing “significant gaps” in their ongoing negotiations with the United Auto Workers (UAW) union. Meanwhile, the UAW intensifies strikes against General Motors Co. (NYSE: GM) and Stellantis.

Rupert Murdoch, the stalwart media tycoon, stepped down from Fox Corporation (NASDAQ: FOX), marking an end to his illustrious seven-decade career. The compensation details for both Rupert and his successor, Lachlan Murdoch, have been disclosed, showing a significant hike for the senior Murdoch.

Other notable U.S. business news includes The Goodyear Tire & Rubber Company’s (NASDAQ: GT) rationalization plans, a lawsuit against Meta Platforms, Inc. (NASDAQ: META) by Metabyte over trademark rights, and Oracle Corporation’s (NYSE: ORCL) substantial investment in Ampere Computing.

Global Glimpses – Europe, Asia, and India

The Chinese property giant, Evergrande, faces another setback as it discloses its inability to issue new debt, sending its shares tumbling.

While Hollywood’s writers union and major studios reach a tentative agreement, potentially ending industry strikes, Russian crude oil supplies surge despite G7 sanctions, and Germany stalls its building insulation standards, providing a breather to its building sector.

Sweden’s SBB offloads a chunk of its education subsidiary, TotalEnergies preps to discuss its Namibian oil prospects, and India exhibits a mixed bag of financial news. India’s foreign exchange reserves witness a dip, but optimism surrounds its bond yield following JPMorgan’s decision. The tech industry breathes a sigh of relief as India decides to defer import license requirements that could have impacted giants like Apple and Samsung.

In summary, as September concludes, markets worldwide display volatility, reflecting the complexities of geopolitics, evolving economic partnerships, and sector-specific dynamics. Investors and market enthusiasts are advised to keep an eagle eye on these developments to make informed decisions.

Nickel prices have had a very good year in 2022, up 43% YTD to US$28,199/t at the time of writing. This has been mostly due to a tight market with demand remaining strong and limited new supply.

2023 is forecast to be another tight year for the nickel market, although some analysts are concerned with potential new supply from Indonesia. Sumitomo sees a tight nickel supply/demand balance for the battery sector with some potential oversupply of nickel pig iron (NPI) in 2023. Nickel pig iron is a low grade ferronickel commonly used in China as a cheaper alternative to pure nickel for the production of stainless steel.

Sumitomo Metal Mining forecasts (as of Sept. 2022) small nickel deficits for 2022 and 2023

Source: Sumitomo Metal Mining (see page 11)

A huge demand wave ahead for nickel this decade and next

Looking out further, in 2021 the IEA forecast that nickel demand is set to increase by 7x to 19x from 2020 to 2040. This is driven by conventional demand from stainless steel plus surging demand from batteries, mostly to supply the electric vehicle boom. Not all batteries will use nickel; however nickel, manganese, cobalt (NMC) cathode batteries are set to remain as a dominant battery chemistry in Western markets due to their superb energy density, combined with a good long cycle life. In 2022, the IEA forecast that 60 new nickel mines would be needed by 2030.

Jessica Farrell, BHP’s Asset President of Nickel West, recently was quoted as stating: “We anticipate demand for nickel in the next 30 years will be 200% to 300% of the demand in the previous 30 years”.

The leading nickel companies

Vale S.A. (NYSE: VALE) is consistently in the top 3 global leading producers of nickel. In 2020 they ranked second producing 215,000t. In 2021, Vale was the world’s largest iron ore and nickel producer with iron ore and pellets making up 81% of revenue in Q2, 2022, nickel making up 9%, and copper 3%. Vale has been working on expanding production capacity of both iron ore and nickel. Vale’s key nickel assets are well located in Voisey’s Bay in Canada. Vale has nickel supply agreements to supply nickel to Tesla (NASDAQ: TSLA), Ford Motor Co. (NYSE: F), Northvolt, and more recently General Motors (NYSE: GM). Vale’s stock currently trades on a 2023 PE of only 5.97 and an indicative 2023 dividend yield of 6.6%.

Norilsk Nickel was the leading global nickel producer in 2020 with 236,000t. Being a Russian company 2022 has not been kind for investors in Nornickel with the stock price plunging and stock trading being suspended from all Western stock exchanges. Nornickel recently stated: “MMC Norilsk Nickel shares are listed on the Moscow and on the Saint-Petersburg Stock Exchanges, ADRs are accepted for trading on the Saint-Petersburg Stock Exchange.”

Glencore PLC (LSE: GLEN | OTC: GLCNF) ranked the number 3 leading global nickel producer in 2020 with 110,000t of production. Glencore’s 2022 production for the first 9 months of the year was 81,600t, 15% up on the same period in 2021.

BHP Group Limited (NYSE: BHP) is ranked 4th in 2020 with 80,000t of nickel production. BHP’s Nickel West mine has been ramping up operations in recent times with ore sent to BHP’s Kwinana Nickel Refinery which can produce 100,000tpa of nickel sulphate. BHP is looking to grow their nickel business and recently announced a takeover offer of OZ Minerals Limited (ASX: OZL) (who themselves have an option deal to acquire Havilah Resources’ Kalkaroo Project in SA that contains copper, gold and cobalt).

BHP’s Nickel West operations in Western Australia

Source: BHP website

Others – Other key global nickel producers include Jinchuan Group (HK: 2362), Sumitomo Metal Mining Co. (TYO: 5713 | OTC: SMMYY), Anglo American (LSE: AAL | OTC: AAUKF), Eramet (OTC: ERMAY), Sherritt International (TSX: S | OTC: SHERF), IGO Limited (ASX: IGO | OTC: IIDDY), Panoramic Resources (ASX: PAN | OTC: PANRF), Nickel Industries Limited (ASX: NIC | OTC: NICMF), Nickel 28 Capital Corp. (TSXV: NKL), Mincor Resources (ASX: MCR | OTC: MCRZF), and a few more.

Closing remarks

2022 was a great year for the nickel sector. 2023 looks like being a bit tougher as a global slowdown looms and as new Indonesia supply comes online; however, looking out this decade it looks hard to see where the 60 new nickel mines needed will come from.

There are several exciting nickel juniors working to fill the impending nickel supply gap this decade. Some are ii8 members here at InvestorIntel, such as Power Nickel (TSXV: PNPN), so feel free to read up on them over the upcoming Christmas break.