Business
Nano One Reports Q4 2024 Results and Summary of Activities
Q4 2024 Results and Subsequent Events VANCOUVER, BC / ACCESS Newswire / March 25, 2025 ...
About this update from Nano One Materials Corp
[{"type":"text","content":"Nano One Reports Q4 2024 Results and Summary of ActivitiesQ4 2024 Results and Subsequent EventsVANCOUVER, BC / ACCESS Newswire / March 25, 2025 / (TSX:NANO)(OTC PINK:NNOMF)(Frankfurt:LBMB)Q4 2024 Results and Subsequent EventsTotal net assets of $21.4 million as at Q4 2024, plus $26.5 million in non-dilutive funding received in Q1 2025 between sale and lease back and government programsSale and lease back transaction closes and generates net proceeds of $13.7 million, plus a $2.0 million deferred payment via vendor loanGovernment of Québec awards a loan and grant to Nano OneAlliance with Worley Chemetics advances and shows advantages of One-Pot™ ProcessNano One® Materials Corp. (\"Nano One\" or the \"Company\"), a process technology company specializing in lithium-ion battery cathode active materials has filed its annual audited consolidated financial statements (the \"financial statements\"), management's discussion & analysis (\"MD&A\"), and annual information form (\"AIF\") as at and for the year ended December 31, 2024 (\"Q4 2024\") and is pleased to provide a summary and an update on subsequent events.Q4 2024 - Financial Position and Subsequent FundingAs at December 31, 2024, the Company's total net assets and working capital were $21.4 million and $5.5 million, respectively.In Q1 2025, total proceeds of $26.5 million were received between the sale and lease back transaction (net proceeds of $13.7 million), and drawdowns on government programs of $12.8 million.These programs support Nano One's engineering, capacity expansion, demonstration, and commercialization at its LFP plant in Candiac, Québec. The Company also has approximately $29 million in reimbursements remaining to claim over the coming two years from its contracted government programs and continues to collaborate with governments on new programs.Government of Québec awards $18.0 million to Nano OneOn December 9, 2024, the Company announced an award of $18.0 million in financing from the Government of Québec, which includes a $15.0 million loan from the Ministry of the Economy, Innovation and Energy (MEIE) through its mandated organisation Investissement Québec, and a $3.0 million grant from the Ministry of the Environment, the Fight against Climate Change, Wildlife and Parks (MELCCFP), through its Technoclimat program. ...