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Nano One Provides Quarterly Progress Update and Reports Q3 2021 Results
Vancouver, British Columbia--(Newsfile Corp. - November 11, 2021) - Nano One® Materials C...
About this update from Nano One Materials Corp
[{"type":"text","content":"Nano One Provides Quarterly Progress Update and Reports Q3 2021 ResultsVancouver, British Columbia--(Newsfile Corp. - November 11, 2021) - Nano One® Materials Corp. (TSX: NANO) (OTC Pink: NNOMF) (FSE: LBMB) (\"Nano One\") 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 announces its financial results and operations overview for the third fiscal quarter ended September 30, 2021 and is pleased to review the following highlights from Q3 2021.Q3 Highlights and Headlines Working capital of ~$54.0 million; cash of ~$54.6 millionMOU with global automotive OEM to evaluate manganese rich cathode materialsJoint development agreement with Euro Manganese for the development of high-purity manganese in lithium-ion battery cathode materialsCompletion of SDTC and BC-ICE Milestone 2 and receipt of Milestone 3 fundsEngaged global engineering firm, Hatch, to lead an engineering study for expanded cathode evaluation project with a global automotive company\"Nano One continues to advance opportunities with our partners in the battery supply chain and in this past three months we have added a few more strategic relationships,\" commented Mr. Dan Blondal, CEO. \"We have business dealings on many fronts around the globe, including opportunities to enable low cost integrated domestic supply chains in North America and Europe that with the use of our technologies could increase competitiveness, reduce environmental footprint and add value to critical mineral supplies.\" Corporate Updates for Q3 and Post-Q3 2021 Transition in LFP Strategy and Accelerate ZEV Alliance MembershipOn November 9, 2021, the Company announced a transition in its LFP cathode material focus towards emerging opportunities in domestic supply chains in North America and Europe, to create a secure, integrated and cost competitive solution that reduces environmental footprint.Joint Development Agreement signed with Euro ManganeseOn October 4, 2021, the Company announced the signing of a Joint Development Agreement with Euro Manganese Inc. (\"Euro Manganese\"), a battery raw materials company developing a significant manganese deposit in the Czech Republic.The two companies will collaborate on developing economically viable and environmentally...