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Nano One Provides Update on Joint Development Work with Pulead
Vancouver, British Columbia--(Newsfile Corp. - April 2, 2019) - The CEO of Nano One Material...
About this update from Nano One Materials Corp
[{"type":"text","content":"Nano One Provides Update on Joint Development Work with PuleadVancouver, British Columbia--(Newsfile Corp. - April 2, 2019) - The CEO of Nano One Materials Corp. (TSXV: NNO) (OTC PINK: NNOMF) (FSE: LBMB), Mr. Dan Blondal, is pleased to provide an update on the progress of its partnership with Pulead Technology Industry, announced January 25. The objective of this joint development effort is to identify a viable supply chain and design a low cost lithium iron phosphate (LFP) plant using Nano One's proprietary processes. \"After two months, our teams are working well together and developments at the lab and pilot scale are moving along at a good pace. We have identified viable raw materials, are refining our processes, and are evaluating resulting materials against target specifications,\" said Mr. Blondal. \"Performance targets and economic modeling remain on track as we optimize Nano One's innovative process for the commercial production of LFP.\"LFP represents a tremendous market opportunity for Nano One:Market demand for LFP is anticipated to double to over 200,000 tonnes/yr in 20251. Chinese Ministry of Industry and Information Technology said that 61% of passenger vehicles and 94% of busses will use LFP batteries2.Pulead is a global leader in LFP production and are expanding their capacity to capture a greater portion of the LFP growth opportunity. LFP is widely considered to be the safest, lowest cost and longest lasting of all battery cathode materials. LFP is a dominant cathode material in electric buses, mid-range electric automobiles and fleet vehicles.Nano One believes LFP will garner a substantial share of the electrical grid energy storage systems (ESS) market where cost, safety and longevity drive purchase decisions. For example, BYD, who leads the world in e-buses and e-cars, recently signed a deal with finance group Pireos Capital which could see up to 100MWh of its LFP battery storage systems deployed in Mexico3. LFP could become a cost competitive and environmentally superior alternative to lead-acid batteries, opening a $40B market opportunity that includes energy storage systems (ESS), telecom, hybrid EVs, forklifts, bikes and power tools.\"These are large opportunities,\" adds Mr. Blondal, \"and they address emissions targets head-on with growth in new and existing markets, as well as replacement units for la...