Sumitomo Metal bets on Canadian battery materials firm Nano One
September 25, 2023
By Cecilia Jamasmie
Sumitomo Metal Mining (TYO: 5713) is investing $16.9 million ($12.5m) in Canada’s battery materials firm Nano One (TSX: NANO) as part of the Japanese giant’s efforts to find sustainable methods for producing lithium-ion batteries. The companies have also vowed to jointly develop a low-cost, low environmental impact production process for battery cathode materials, which are used in the making of electric vehicles (EVs).