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Clean tech company Nano One Materials Corp. (TSX:NANO) (OTC:NNOMF) has developed a patented, scalable, low-carbon industrial process for the low-cost production of high-performance lithium-ion battery cathode materials. The technology is applicable to electric vehicles (EVs), energy storage, consumer electronics, and next-generation batteries to contribute to the global push towards a zero-emission future.
Nano One has continued to advance and test its technology and has also signed a number of partnerships and technical initiatives with global automotive OEMs, upstream mining companies and global chemical companies.
On May 31, Nano One Materials (TSX:NANO) (OTC:NNOMF) announced that it has signed a Joint Development Agreement (JDA) with BASF, a globally active chemical company with extensive experience in developing and manufacturing battery materials. Under the JDA, the companies will jointly develop a process with reduced by-products for the commercial production of next-generation cathode active materials (CAMs), based on BASF’s HEDTM family of advanced CAMs and using the One-Pot process. Nano One‘s patented and metal direct to CAM (M2CAM®) technologies.
BASF has a family of CAM products well suited to the evolving batteries in automotive drivetrains and has a proven track record of developing these products in collaboration with others. Nano One and BASF will also use the M2CAM® process for greater flexibility in terms of manufacturing approach and performance of the resulting product, reduced energy consumption, and environmental footprint.
The joint development plan has different phases and stages and is the result of the evaluation of Nano One’s processes and products. The signing of the JDA represents an important milestone in the business relationship between BASF and Nano One.
“BASF is a global leader in chemistry and high performance lithium-ion battery cathode materials, and we are proud to be forging new ground with them to improve performance, cost and environmental footprint for CAM production,” said Nano One CEO Dan Blondal. “There is a tremendous opportunity to jointly differentiate the production processes and products for a more resilient and sustainable supply chain. We look forward to advancing this partnership.”
Dr. Heiko Urtel, Vice President Global R&D Battery Materials, BASF SE, added, “Nano One has an advanced technology with the potential to improve the product performance of our high-performance cathode active materials and to further simplify the synthesis of battery materials . We are looking forward to building a collaborative working relationship and advancing the business opportunities for our next-generation cathode active materials.”
Nano One to Acquire Johnson Matthey Battery Materials
On May 25, Nano One Materials (TSX:NANO) (OTC:NNOMF) announced it has signed a deal to acquire Johnson Matthey (JM) Battery Materials Ltd. (JMBM Canada) for approximately C$10.25 million.
The JMBM Canada team has over 360 years of collective experience in R&D, pilot and commercial scale cathode production and product qualification, and quality assurance systems expertise for manufacturers of Tier 1 automotive lithium-ion cells. JMBM Canada also includes a 2,400 tonne per year LFP production plant located in Candiac, Quebec, occupying approximately one-tenth of the 400,000 square foot property.
In 2015, Johnson Matthey acquired the Candiac production facility, which was in operation since 2012. It is a supplier of lithium iron phosphate (LFP) cathode materials to the lithium-ion battery industry for automotive and non-automotive applications for a selection of customer groups.
Liam Condon, Chief Executive of Johnson Matthey, says: “We have worked with Nano One on a number of projects over the last year and having seen their innovations, we believe they have the potential to develop the Candiac site in the best way possible. We remain at the Candiac site until the end of the year and are fully committed to serving the needs of our customers.”
Nano One also recently provided a company update, revealing that it has approximately $48.6 million in working capital and approximately $48.7 million in cash, healthy cash to execute its business strategy.
SOURCE Nano One Materials Corp.