Business
Nano One Provides Quarterly Progress Update and Reports Q2 2023 Results
VANCOUVER, BC / ACCESSWIRE / August 10, 2023 / (TSX:NANO)(OTC PINK:NNOMF)(Frankfurt:LBMB) Q2 2...
About this update from Nano One Materials Corp
[{"type":"text","content":"Nano One Provides Quarterly Progress Update and Reports Q2 2023 ResultsVANCOUVER, BC / ACCESSWIRE / August 10, 2023 / (TSX:NANO)(OTC PINK:NNOMF)(Frankfurt:LBMB)Q2 2023 Highlights and HeadlinesWorking capital of $30.0 million; cash of $34.4 millionCompletion of Phase Two of Co-Development Agreement with CBMMJoint Development Agreement with Our Next Energy (ONE)Advancement of Commercial Plans for LFPSix new patents issued and allowed in Canada, United States, and JapanProceeds of ~$3.0M from the exercise of stock optionsNano One® Materials Corp. (\"Nano One\" or the \"Company\") is a clean technology company with patented processes for the production of lithium-ion battery cathode materials that enable secure and resilient supply chains by driving down cost, complexity, energy intensity, and environmental footprint. Nano One has filed its condensed interim consolidated financial statements (the \"financial statements\"), and management's discussion & analysis (\"MD&A\") as at and for the six months ended June 30, 2023 (\"Q2 2023\") and is pleased to provide the following highlights from Q2 2023.Corporate Milestones for Q2 2023Joint Development Agreement with Our Next Energy (ONE)On June 14, 2023, the Company announced signing a Joint Development Agreement (JDA) with ONE to collaborate on the validation, qualification, and production of a North American supply of lithium iron phosphate (LFP) cathode active materials (CAM). The LFP CAM will be produced at Nano One's 200 tpa pilot facility in Candiac, Québec, for validation in ONE's production LFP cells used in its Aries and Gemini batteries, with the goal of a binding offtake agreement and expansion into future production facilities.Successful Completion of Phase Two of Co-Development Agreement with CBMMOn May 17, 2023, the Company announced the successful completion of phase two of the co-development work with CBMM, the world's leading supplier of Niobium products and technology. Phase two successfully utilized CBMM's Niobium product to make coated nanocrystal high nickel (Ni>90%) NMC cathode active material. Enhanced durability was displayed using Nano One's proprietary One-Pot process and Metal to Cathode Active Material (M2CAM®) technology.This achievement opens new doors of opportunity for the two companies to market and cross-collaborate with their ex...