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Nano One and Pulead Joint Development Demonstrates Advantageous Economics
Vancouver, British Columbia--(Newsfile Corp. - August 13, 2019) - Mr. Dan Blondal, CEO of Na...
About this update from Nano One Materials Corp
[{"type":"text","content":"Nano One and Pulead Joint Development Demonstrates Advantageous EconomicsVancouver, British Columbia--(Newsfile Corp. - August 13, 2019) - Mr. Dan Blondal, CEO of Nano One Materials Corp. (TSXV: NNO) (OTC Pink: NNOMF) (FSE: LBMB), is pleased to report that the latest results from Nano One's ongoing joint development work with Pulead Technology demonstrate compelling economic advantages that exceed internal targets.Under the January 2019 agreement, the two companies have been working collaboratively to develop, evaluate and optimize scaled up production of lithium iron phosphate (LFP) cathode materials using Nano One's patented technology, for use in lithium ion batteries. Licensing and commercialization opportunities are being explored as part of this collaboration.\"Nano One's technology mixes lithium, iron, phosphate, and a carbon coating in a one pot process and the joint development results have exceeded our targets in terms of both cost reduction and performance,\" said Mr. Blondal. \"Furthermore, Nano One has identified and evaluated a low cost, high purity and high volume source of iron that enables our process to eliminate an intermediate step in the supply chain. This brings about savings that are very much in line with our goals. The joint development work is now proceeding to determine the full scale economics and an optimized path to commercialization.\"Dr. Yuan Gao, CEO of Pulead Technology, said, \"We are encouraged by the feasibility work as it has shown that Nano One's LFP can be produced with commercially attractive cost savings while maintaining performance integrity. Our next step is to qualify the viability of the supply chain identified by Nano One and quantify the economics in greater detail. The production of LFP cathode materials is a major source of revenue for Pulead and we are excited by the commercial opportunity presented by Nano One's ground breaking innovations.\"Pulead is a global leader in LFP production looking to expand its capacity in a rapidly growing market. They are a trusted cathode supplier and they have license agreements in place with BASF, Umicore and Prayon.LFP is widely considered to be the safest, lowest cost and longest lasting of all lithium ion batteries, making them ideal for industrial applications. Market demand for LFP is anticipated to double to over 200,000 tonnes/yr in 202...