Nano One, Sumitomo Metal Mining strike $16.9-million CAM investment deal
October 5, 2023
By Mehanaz Yakub
Nano One and Sumitomo Metal Mining are teaming up to accelerate the production of cathode active materials. As part of this collaboration, Sumitomo Metal is making a $16.9-million investment in Nano One, which also gives it a share in the company.
The two companies aim to advance Nano One’s ability to begin commercial manufacturing of two essential electric vehicle battery components — lithium iron phosphate (LFP) and lithium nickel manganese cobalt oxide (NMC) cathode active materials (CAM).