*The acquision of Nano One’s Québec Facility is expected to complete by the end of 2022, subject to JMBM Canada fulfilling contractual commitments and certain other customary closing conditions.
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Québec has the right mix of raw materials, strategic location, secure green power, and a skilled and experienced workforce, because government and industry have been investing to build the foundation over the last thirty years. There is a provincial strategy for Developing a Battery Industry and for Critical Minerals, along with a federal strategy to support the battery supply chain and larger ecosystem. Anchor investments by the private sector have created the opportunity for what will be a leading jurisdiction for battery production in North America. We see a significant opportunity to help grow the mid-stream of the battery materials supply chain in Québec and more broadly in North America. With a growing list of partnerships globally across the entire battery supply chain, from miners to automotive OEMs, Nano One is changing how the world makes battery materials. Nano One can play a role in positioning Québec and Canada to be a leader in the most sustainably made batteries.
The LFP Story – Québec focused
LFP was born at the University of Texas originally, and then it was developed, piloted and first commercialized in Québec in the early 2000’s. Today 99% of LFP is produced in China and by building a Québec presence, with the Québec skills that gave commercial birth to LFP, Nano One intends to bring LFP back home and to take it to the next level. Our novel processing technology cuts out large environmental waste and enables a reduction in costs and complexity when compared to the alternatives in use today, and we believe Québec provides numerous synergies to bring large scale LFP production to bare. Further, Québecois and Canadian raw materials and existing supply chains support the building of localized LFP manufacturing for the North American market. Together with Nano One’s One-Pot flexibility on feedstock there is an opportunity to build out a critical midstream in the Québec battery ecosystem.
While many different types of cathode materials are ultimately required to support the energy transition to batteries and our platform technology will enable many of them, we are looking to address market needs for LFP in the near-term.
The Opportunity to Transcend the Norm
This is a once in a generation opportunity to create energy security and a new energy supply chain that is localized and environmentally sustainable while creating billions of dollars of economic activity. The entrenched, old way of producing CAM doesn’t need to come to North America and the rest of the world, as it relies on jurisdictions with different environmental, employment and governing standards. Environmentally and economically differentiated methods are required to be successful for safe, secure and reliable access to battery materials. Nano One aims to be a leader in the global transition to electrification.