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Nano One Awarded $10 million from Sustainable Development Technology Canada
$10 million in non-dilutive support from SDTC helps: Fast track and convert North America's...
About this update from Nano One Materials Corp
[{"type":"text","content":"Nano One Awarded $10 million from Sustainable Development Technology Canada$10 million in non-dilutive support from SDTC helps:Fast track and convert North America's only LFP plant to pilot Nano One's One-Pot Process.Leverage high-quality acquisition of LFP plant and amplifies expansion plans.Accelerate strategic growth and offtake opportunities with consortium partners Rio Tinto, Lithion Battery Inc., and undisclosed auto OEM.Clear a path to industrial scale piloting, demo commercial production and revenues.Maximize shareholder value, support cleantech innovation and enhance security of supply.VANCOUVER, BC / ACCESSWIRE / February 13, 2023 / Nano One® Materials Corp. (\"Nano One\" or the \"Company\") (TSX:NANO)(OTC PINK:NNOMF)(Frankfurt:LBMB) is a clean technology company with patented processes for the low-cost, low-environmental footprint production of high-performance cathode materials used in lithium-ion batteries. Nano One is pleased to announce an award of $10 million in non-dilutive, non-repayable contributions from Sustainable Development Technology Canada (\"SDTC\"). These funds will support the conversion of Nano One's recently acquired Candiac facility to the patented One-Pot Process for industrial-scale pilot production of lithium iron phosphate (LFP). SDTC's continued support has been an important contribution to Nano One's success and will accelerate the LFP piloting while advancing the plan towards commercial operations.The SDTC project also includes financial support for the design, construction, and operation of a multi-cathode piloting hub (MCPH) to help customize and advance Nano One's One-Pot and metal-direct-to-CAM (M2CAM®) processes for the industrial scale pilot production of next-gen LFP, NMC and LNM cathode active materials (CAM). These processes are being developed independently by Nano One and jointly with global cathode partners1,2 and various automotive collaborators for future licensing, joint venture and independent production opportunities. Nano One will lead the project with valuable contributions from consortium partners Rio Tinto, Lithion Battery Inc., and an undisclosed automotive OEM3.\"These funds will help us fast track the conversion of North America's only LFP plant to Nano One's patented One Pot Process,\" said Nano One CEO Mr. Dan Blondal. \"This will showcase world-class cat...