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Nano One Receives C$12.75 Million in Contributions from Government Programs
Highlights: Adds $12.75 million working capital for LFP commercialization initiatives. ...
About this update from Nano One Materials Corp
[{"type":"text","content":"Nano One Receives C$12.75 Million in Contributions from Government Programs Highlights:Adds $12.75 million working capital for LFP commercialization initiatives.Draws from various government awards, previously announced.Supports pilot, capacity expansion and demonstration scale operations, engineering feasibility, commercial production and licensing initiatives.Video tour of modernized Candiac demonstration facility featuring the One-Pot Process. VANCOUVER, BRITISH COLUMBIA / ACCESS Newswire / March 20, 2025 / Nano One® Materials Corp. (\"Nano One\" or the \"Company\"), a process technology company specializing in lithium-ion battery cathode active materials, is pleased to announce the receipt of C$12.75million in non-dilutive cash contributions from various Government funding programs, mostly as reimbursement for recent eligible project expenditures.Video tour: Highlighting advancements made with the One-Pot process at Nano One's LFP demonstration plant in Candiac, Québec: https://youtu.be/lM2H9fn_amY.\"These funds strengthen our balance sheet,\" said Nano One's CEO and Founder, Dan Blondal, \"and enable us to fully execute on our capacity expansion, production and licensing plans through 2025 and further. We are drawing down from approximately C$45 million in government awards previously announced with some contributions retroactive as far back as January 1, 2023. This reflects the strategic importance of our One-Pot process for energy and supply chain security, adds considerable shareholder value and supports commercialization and the fulfillment of our corporate objectives.\"These programs support Nano One's engineering, capacity expansion, demonstration, and commercialization at its LFP plant in Candiac, Québec. The $12.75 million from governments along with previously announced sale of vacant land and sale and lease back have provided combined working capital totalling $31.25M. The proceeds also fund continued activities on engineering feasibility for the Company's design-one-build-many licensing growth strategy.Nano One also has approximately $29 million in reimbursements remaining to claim over the coming 2 years from its contracted government programs and continues to collaborate with governments on new programs.Nano One is pleased to provide a video tour highlighting advancements made with the One-Pot pr...