Nano One Secures $18M in Financing from Québec Government to Accelerate Clean Technology Development

Nano One Materials CEO Dan Blondal joined Steve Darling from Proactive to share that the company has secured $18 million in financing from the Government of Québec to advance its innovative clean technology initiatives. The funding package includes a $15 million loan from the Ministry of the Economy, Innovation and Energy, facilitated by Investissement Québec, and a $3 million grant from the Ministry of the Environment, the Fight Against Climate Change, Wildlife and Parks through its Technoclimat program.

Blondal explained that the financing will support the piloting and commercialization of Nano One's proprietary One-Pot™ process and the expansion of production capacity at the company’s lithium iron phosphate (LFP) manufacturing facility in Candiac, Québec. The $15 million loan supports $63.4 million in eligible expenditures between January 2023 and December 2026, with $30 million already incurred.

Loan repayments will commence 60 months after the initial disbursement and will extend over the following five years. The $3 million grant is designated to reimburse expenses incurred at the Candiac plant and facilitate the transition to cleaner, more efficient manufacturing practices. Blondal emphasized that this funding strengthens Nano One’s mission to deliver sustainable battery materials and supports the company’s role in advancing Québec's clean energy and manufacturing ecosystem.