Next Generation Manufacturing Canada (NGen) has announced a $40-million investment in five new advanced manufacturing projects, involving 10 companies, under the umbrella of its Electric Vehicle Manufacturing Value Chain Program.
The 10 companies getting NGen support in the EV Value Chain Program are paired in five different projects.
One of the pairs of funding recipients is Nano One Materials and Worley Chemetics, both of Vancouver.
Nano One is developing a “One-Pot” technology process to produce more streamlined, less expensive, less energy-intensive, environmentally friendly cathode active materials for lithium-ion batteries.
This is the first time the company is receiving funding from the Canadian innovation cluster.
“It’s great to have the support from NGen,” Dan Blondal, the CEO of Nano One Materials, tells Electric Autonomy in an interview.
“Getting NGen’s backing provides a ton of confidence to our shareholders. Their support is valuable and recognizes all of the accomplishments that Nano One has made, including all the big international partners that we brought to the table and our progress in meeting business objectives.”
Nano One and Worley Chemetics plan to use the NGen funding to advance their recently announced partnership. The two companies plan to produce equipment — tanks, reactors, furnaces and kilns — for Nano One’s “One-Pot” cathode process at Worley’s alloy fabrication shop in Pickering, Ont.
“This equipment will be part of a larger package with Worley, which also includes the engineering packages, the intellectual property, access to the patents and all the know-how of our various teams,” says Blondal.
The larger business strategy is to license and sell this design package to other battery companies.
Read the full article in Electric Autonomy by Mehanaz Yakub: https://electricautonomy.ca/ev-supply-chain/2024-08-14/ngen-40-million-ev-value-chain-manufacturing/.
