The global renewable energy market, which was estimated at $980 billion in 2017, is expected to reach a stunning $1.5 trillion by 2025. The demand for sustainable and clean energy sources fueled by environmental concerns regarding rapid urbanization, fossil fuels and economic growth in emerging regions is driving the growth seen in recent years within the market. This demand has also fueled the development of innovative and sustainable solutions like energy-efficient batteries, energy storage solutions, and particularly, electric vehicles (EVs), which grew to a value of $246.7 billion in 2020. Companies such as Nano One Materials Corp (TSXV:NNO) (OTC:NNOMF) (FF:LBMB), NIO Inc. (NYSE:NIO), General Motors Company (NYSE:GM), ChargePoint Holdings (NYSE:CHPT), and Ford Motor Company (NYSE:F) are at the forefront in developing clean energy solutions that also meet ESG principles.
Nano One Makes Battery Breakthrough
Nano One Materials Corp (TSXV:NNO) (OTC:NNOMF) (FF:LBMB) is a Canadian clean technology company that has developed a patented low carbon intensity process to produce low-cost, high-performance cathode materials for lithium-ion batteries. The company has continued to make breakthroughs in battery longevity through durability tests on their Lithium Nickel Manganese battery and have found that its high-voltage cobalt-free battery is stable at elevated operating temperatures, similar to those found in power tools, automotive, and energy storage applications.
The breakthrough Nano One made opened up opportunities for collaboration with players in the EV and battery market. In a recent announcement, Nano One has revealed a joint development agreement with Johnson Matthey where the companies will apply Nano One’s patented One-Pot process for the development of Johnson Matthey’s eLNO® family of nickel-rich advanced cathode materials.
The companies will focus on materials, production methods, and a commercialization study for pre-pilot, pilot, and scaled-up manufacturing in the collaboration.
“Johnson Matthey is a global leader in advanced lithium-ion cathode materials,” said Nano One CEO Dan Blondal, “and we are proud to be working with them in the pursuit of high performance, long life cycles, low-carbon footprint, and environmentally sustainable solutions. We share a common vision to develop and commercialize a highly differentiated and value-added cathode materials business and we are delighted to be introducing Johnson Matthey as a trusted partner, and collaborating on process innovations for a new generation of lithium-ion battery materials. Our business is primed for such opportunities and we look forward to advancing this partnership and its joint development program”
Nano One’s One-Pot process and the recently launched M2CAM technology have been developed in response to a growing need to reduce waste, carbon footprint, cost, and energy in the Lithium-ion supply chain and meet growing ESG imperatives.
The joint development agreement is one of the collaborations Nano One has engaged in since its successful technical reviews and preliminary evaluations that began in Q2 2020.
Following the closing of a bought deal offering for gross proceeds of approximately $28.9 million, Nano One has the funds to support ongoing research and development, strategic partnerships and collaboration and a pilot plant expansion.
Companies Across the EV and Batteries Space Take Steps towards More Sustainable Energy Solutions
Chinese premium electric vehicle company NIO Inc. (NYSE:NIO) launched its Battery-as-a-Service subscription model, which will allow users to purchase electric vehicles. “The BaaS model has long been planned with our unique battery swap technologies; the successful launch of the BaaS model will enable NIO users to benefit from the lower initial purchase of our products, flexible battery upgrade options, and assurance of battery performance.”
ChargePoint Holdings (NYSE:CHPT), a market leader in electric vehicle charging committed to facilitating an easier transition to electric mobility by providing charging networks. ChargePoint Holdings currently has the largest charging network in North America and is gradually expanding its products and solutions to Europe. ChargePoint is also enhancing the EV driver experience with its recent Android Auto integration to allow drivers to access their vehicle’s charging information from the infotainment system.
Ford Motor Company (NYSE:F) announced a memorandum of understanding (MOU) with SK Innovation to produce about 60GWh annually in traction battery cells and array modules in a joint venture they are calling BlueOvalSK. The MoU comes as part of Ford’s commitment to invest in electric vehicles. Shortly after Ford unveiled the new all-electric 2022 F-150 Lightning® Pro purpose built for commercial customers. “F-150 Lightning Pro represents so much more than an electric workhorse – it’s made for commercial customer inside and out, it gets better over time, and it’s totally plugged into always-on services that can help business productivity,” said Jim Farley, President and CEO, Ford Motor Company. Registrations for the vehicle are currently on-going.
Meanwhile, global car company General Motors Company (NYSE:GM) has vowed on “advancing an all-electric future” with the help of its Ultium battery platform. In fact, GM is even looking to bring electric vehicles to the moon through a partnership with Lockhead Martin to develop a next-generation Lunar Rover for NASA’s Artemis program.
Companies in the electric vehicle sector such as Nano One are developing powerful alternative energy solutions to meet the growing demand for environment-friendly products.
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