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Nano One Approved for $5 Million Funding from Sustainable Development Technology Canada
Vancouver, British Columbia--(Newsfile Corp. - May 31, 2019) - Nano One CEO, Mr. Dan Blonda...
About this update from Nano One Materials Corp
[{"type":"text","content":"Nano One Approved for $5 Million Funding from Sustainable Development Technology CanadaVancouver, British Columbia--(Newsfile Corp. - May 31, 2019) - Nano One CEO, Mr. Dan Blondal, (TSXV: NNO) (OTC PINK: NNOMF) (FSE: LBMB) is pleased to announce that Nano One has been approved for $5 million from Sustainable Development Technology Canada (\"SDTC\") to support Nano One's \"Scaling Advanced Battery Materials\" project.\"This project will support scale up activities with industrial partners and collaborators,\" said Mr. Blondal, \"and we are thrilled to have SDTC's approval. Nano One's project proposal to SDTC involves five multinational manufacturers and European automakers contributing at various stages of research, development, piloting and commercialization. We are currently finalizing the terms of the project financing agreement.\"SDTC is an independent federal foundation that funds companies with the potential to transform the environmental and economic prosperity of Canada. SDTC's support and championing of Canadian entrepreneurs - in the form of funding, knowledge and ecosystem connectivity - makes a difference in today's hyper-competitive global market for clean technologies. By taking a pan-Canadian approach, in partnership with the best peers and experts, SDTC is the benchmark for sustainable development innovation programming globally. \"As communicated previously,\" Mr. Blondal added, \"Nano One is engaged with Pulead Technology and Saint-Gobain and we are pleased to announce that Volkswagen Group Research will join our consortium as a project contributor. Details on the other two project contributors remain confidential. We are inspired to be working with such accomplished global leaders and look forward to accelerating our activities with the support of SDTC.\"The SDTC proceeds will be non-dilutive and non-repayable and they will be directed at the expansion of Nano One's business and technical activities with its partners. The goals are to expand the laboratory, pilot plant and staffing to support the advancement of next generation lithium ion battery cathode materials, used in electric vehicles and renewable energy storage. Nano One is jointly developing industrial scale processes with its partners for the commercial production of these materials.Leah Lawrence, President and CEO of SDTC, said \"to lower greenhouse ...