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Nano One Successfully Completes Cathode Evaluation Project with Global Automotive Company, and Expands Collaboration with a New Agreement
Highlights of project achievements: Successful completion of project objectives, advances r...
About this update from Nano One Materials Corp
[{"type":"text","content":"Nano One Successfully Completes Cathode Evaluation Project with Global Automotive Company, and Expands Collaboration with a New AgreementHighlights of project achievements:Successful completion of project objectives, advances relationship.Demonstrates significant potential to reduce environmental footprint, capital costs, and operating costs for NMC materials.Meets performance targets.Increases confidence in long term strategic potential.Led to a new evaluation agreement that adds LFP to the program and expands validation of Nano One's technology to meet specific needs of the OEM.Parties developing a roadmap to execute on vision.VANCOUVER, BC / ACCESSWIRE / February 21, 2023 / Nano One® Materials Corp. (\"Nano One\" or the \"Company\") (TSX:NANO)(OTC PINK:NNOMF)(Frankfurt:LBMB) is a clean technology company with a patented low carbon intensity process for the production of low cost, high-performance cathode materials used in lithium-ion batteries. Nano One announced today that it has achieved an important milestone by successfully completing the evaluation and benchmarking of its process, cathode materials and techno-economic modeling, under a Cathode Evaluation Agreement with a global automotive manufacturer. Success has led the parties to a new Cathode Evaluation Agreement that adds LFP to the program and expands their collaboration to target performance, cost and environmental specifications of cathode materials to meet the needs of the OEM. Financial terms towards the project are confidential.The parties jointly evaluated Nano One's NMC cathode materials for use in automotive lithium-ion batteries and demonstrated significant potential to reduce environmental footprint, capital costs and operating costs while meeting performance criteria.As part of the initial evaluation project, a third-party study, conducted by engineering firm Hatch Ltd., outlined that Nano One's patented One-Pot and M2CAM® (metal to cathode active material) processes offer significant environmental benefits and cost advantages when compared to conventional cathode processes. The report also identified opportunities for further optimization and cost savings during scale-up and commercialization.The successful outcome of this initial evaluation project has led to Nano One and its automotive partner entering a new phase of collaboration and a seco...