Nano One could add 25,000 tonnes per annum (“tpa”) of lithium iron phosphate (LFP) production capacity to its Candiac property, potentially making it significantly more efficient in size, footprint, and capital cost than other commercial methods of making LFP.
SMM made an equity investment of C$16,879,949.85 and the Companies entered into a collaboration agreement (the “CA”) under which they will work together to accelerate the commercial production of lithium iron phosphate (“LFP”), CAM and nickel-rich CAM chemistries, such as lithium nickel manganese cobalt oxide (“NMC”).
Strategic equity investment in Nano One by SMM of C$16,879,949.85 and to enter into a collaboration agreement.
Nano One has leapfrogged to full commercial size reactors and its LFP can be shipped to select customers in Q4 for evaluation. Additionally, the 200 tonne per annum (tpa) reactors have been installed and optimization is underway for scale-up.
This completes the Company’s second SDTC project and its success led to a third SDTC funded project that was previously announced in February 2023 which is expected to provide an additional $10 million in non-dilutive funding.
Nano One has filed its condensed interim consolidated financial statements (the “financial statements”), and management’s discussion & analysis (“MD&A”) as at and for the six months ended June 30, 2023 (“Q2 2023”) and is pleased to provide the following highlights from Q2 2023.
The Company is pleased to report that its lithium iron phosphate (LFP) trials, One-Pot reactors1, sampling and pilot production plans are being expedited as previously outlined, and that initial engineering plans for its first full scale commercial plant are nearing completion.
All matters presented for shareholder approval at the Meeting were approved.
Nano One® Materials Corp. wishes to remind shareholders about the upcoming annual general meeting (“AGM”) to be held on Thursday June 29, 2023 at 1:30pm Pacific Time.
Nano One® Materials Corp., and Our Next Energy (ONE), a Michigan-based energy storage technology company, have signed a joint development agreement (JDA) to collaborate on the validation, qualification and production of a North American supply of lithium iron phosphate (LFP) cathode active materials (CAM).
Our patented process enables the low-cost production of high-performance cathode materials used in lithium-ion batteries.
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