Q4 2024 Results and Subsequent Events

• Total 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 programs
• Sale and lease back transaction closes and generates net proceeds of $13.7 million, plus a $2.0 million deferred payment via vendor loan
• Government of Québec awards a loan and grant to Nano One
• Alliance with Worley Chemetics advances and shows advantages of One-Pot Process

Nano 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 Funding

As 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 One

On 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. This funding will enable the continuation of piloting and commercialization of the One-Pot process, in addition to increasing production capacity of the Candiac Facility.

The $15.0 million loan directly supports approximately $63.4 million of eligible expenditures between January 1, 2023, through December 31, 2026, at the Candiac Facility. Nano One estimates $30.0 million of eligible expenditures have been incurred to date. The loan repayment period begins 60 months after first disbursement and will be repaid over a subsequent 60-month period. The $3.0 million grant also reimburses expenses incurred at the Candiac Facility and is directed towards a transition to cleaner and more efficient manufacturing.

In Q1 2025, the Company received $9.7 million between Investissement Québec (“IQ”) and Technoclimat.

Update on Alliance with Worley Chemetics

On December 4, 2024, the Company provided a progress update on its Worley Chemetics – Nano One Strategic Alliance (“Alliance”), including a jointly conducted cost comparison confirming the economic advantages of Nano One’s One-Pot process for LFP. In addition, the preliminary design and full-scale layout of the modular "Design One, Build Many" plant is complete and being marketed with the cost comparison study to prospective clients.

Sale and Lease Back Transaction

On February 28, 2025, the Company closed a transaction to sell and lease back its building and land at the Company’s Candiac Facility for net consideration of approximately $15.7 million ($13.7 million in net proceeds plus a $2.0 million deferred payment in the form of a vendor loan) after a lease security deposit and transaction costs. This transaction significantly strengthens the Company's cash balance while ensuring long-term operational stability in the province of Québec through executing a 15-year lease agreement on the building with renewal provisions for up to an additional 15 years. The carrying value of the assets subject to the sale and lease back was approximately $6.5 million.

For a more detailed discussion of Nano One’s Q4 2024 annual results, please refer to the Company’s financial statements, and MD&A, which are available at www.sedarplus.ca.

###

About Nano One^®

Nano One^® Materials Corp. (Nano One) is a technology company changing how the world makes cathode active materials for lithium-ion batteries. Applications include stationary energy storage systems (ESS), portable electronics, and electric vehicles (EVs). The Company’s patented One-Pot process reduces costs, is easier-to permit, lowers energy intensity, environmental footprint, and reliance on problematic supply chains. The Company is helping to drive energy security, supply chain resilience, industrial competitiveness and increased performance through process innovation. Scalability is proven and being demonstrated at Nano One’s LFP (lithium-iron-phosphate) pilot production plant in Québec—leveraging the only facility and expertise of its kind outside of Asia. Strategic collaborations and partnerships with international companies like Sumitomo Metal Mining, Rio Tinto, and Worley are supporting a design-one-build-many licensing growth strategy—delivering cost-competitive, easier-to-permit and faster-to-market battery materials production solutions world-wide. Nano One has received funding from the Government of Canada, the Government of the United States, the Government of Québec, and the Government of British Columbia. For more information, please visit www.nanoone.ca

Company Contact:

Paul Guedes

info@nanoone.ca

(604) 420-2041

Cautionary Notes and Forward-Looking Statements

Certain information contained herein may constitute “forward-looking information” and “forward-looking statements” within the meaning of applicable securities legislation. All statements, other than statements of historical fact, are forward-looking statements. Forward-looking information in this news release includes but is not limited to: LFP production, joint ventures, contracted projects, revenue generation, operational growth, licensing, government funding, the development of technology, supply chains, and plans for construction and operation of cathode production facilities and Development Project; the Company’s current and future business and strategies; estimated future working capital, funds available, and uses of funds, future capital expenditures and other expenses for commercial operations; industry demand; incurrence of costs; competitive conditions; general economic conditions; the intention to grow the business, operations and potential activities of the Company; the functions and intended benefits of Nano One’s technology and products; the development and optimization of the Company’s technology and products; prospective partnerships and the anticipated benefits of the Company’s partnerships; the Company’s licensing and, the scalability of developed technology to meet expanded capacity; and the execution of the Company’s stated plans - which are contingent on access to capital and grants. Generally, forward-looking information can be identified by the use of terminology such as 'believe', 'expect', 'anticipate', 'plan', 'intend', 'continue', 'estimate', 'may', 'will', 'should', 'ongoing', ‘target’, ‘goal’, ‘potential’ or variations of such words and phrases or statements that certain actions, events or results “will” occur.

Forward-looking statements are based on the current opinions and estimates of management as of the date such statements are made are not, and cannot be, a guarantee of future results or events. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information, including but not limited to: general and global economic and regulatory changes; next steps and timely execution of the Company’s business plans; the development of technology, supply chains, and plans for construction and operation of cathode production facilities; successful current or future collaborations that may happen with OEM’s, miners or others; the execution of the Company’s plans which are contingent on capital sources; the Company's ability to achieve its stated goals; the commercialization of the Company’s technology and patents via license, joint venture and independent production; anticipated global demand and projected growth for LFP batteries; and other risk factors as identified in Nano One’s MD&A and its Annual Information Form dated March 25, 2025, both for the year ended December 31, 2024, and in recent securities filings for the Company which are available at www.sedarplus.ca. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. The Company does not undertake any obligation to update any forward-looking statements or forward-looking information that is incorporated by reference herein, except as required by applicable securities laws. Investors should not place undue reliance on forward-looking statements.

The post Nano One Reports Q4 2024 Results and Summary of Activities appeared first on Nano One®.

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.
  

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.

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.

“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 process at its LFP demonstration plant in Candiac, Québec: https://youtu.be/lM2H9fn_amY.

###

About Nano One^®

Nano One^® Materials Corp. (Nano One) is a technology company changing how the world makes cathode active materials for lithium-ion batteries. Applications include stationary energy storage systems (ESS), portable electronics, and electric vehicles (EVs). The Company’s patented One-Pot process reduces costs, is easier-to permit, lowers energy intensity, environmental footprint, and reliance on problematic supply chains. The Company is helping to drive energy security, supply chain resilience, industrial competitiveness and increased performance through process innovation. Scalability is proven and being demonstrated at Nano One’s LFP (lithium-iron-phosphate) pilot production plant in Québec—leveraging the only facility and expertise of its kind outside of Asia. Strategic collaborations and partnerships with international companies like Sumitomo Metal Mining, Rio Tinto, and Worley are supporting a design-one-build-many licensing growth strategy—delivering cost-competitive, easier-to-permit and faster-to-market battery materials production solutions world-wide. Nano One has received funding from the Government of Canada, the Government of the United States, the Government of Québec, and the Government of British Columbia.

Cautionary Notes and Forward-looking Statements

Certain information contained herein may constitute “forward-looking information” and “forward-looking statements” within the meaning of applicable securities legislation. All statements, other than statements of historical fact, are forward-looking statements. Forward-looking information in this news release includes the Company’s current and future business and strategies; the intention to grow the business, operations, revenues, and potential activities of the Company; industry demand and adoption; sales of LFP and potential offtake commitments; competitive conditions; general economic conditions; the functions and intended benefits of Nano One’s technology and products; the development of the Company’s technology, supply chains and products; scalability of developed technology; current and future collaboration engineering, and optimization research projects; the successful and timely commencement of a commercialization phase; the purpose for expanding its facilities; the Company’s licensing, joint venture opportunities and/or potential royalty arrangements; the Company’s potential eligibility and benefit from recent global regulatory decisions; continued innovation on manufacturing processes, equipment and recycling; successful execution of the Company’s milestones; and the acceleration and  execution of the Company’s plans - which are contingent on support, grants and long-term support from the Company’s shareholders. Generally, forward-looking information can be identified by the use of terminology such as 'believe', 'expect', 'anticipate', 'plan', 'intend', 'continue', 'estimate', 'may', 'will', 'should', 'ongoing', ‘target’, ‘goal’, ‘potential’ or variations of such words and phrases or statements that certain actions, events or results “will” occur. Forward-looking statements are based on the current opinions and estimates of management as of the date such statements are made are not, and cannot be, a guarantee of future results or events. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information, including but not limited to:  the success in the marketing and deployment of the cathode manufacturing plant design packages; general and global economic and regulatory changes; next steps and timely execution of the Company’s business plans; the development of technology, supply chains, and plans for construction, scale-up and operation of cathode production facilities; successful current or future collaborations that may happen with OEM’s, miners or others; successful execution of the Company’s milestones; the execution of the Company’s plans which are contingent on support and grants; the Company's ability to achieve its stated goals; the commercialization of the Company’s technology and patents via license, joint venture and independent production; anticipated global demand, adoption and projected growth for LFP batteries; and other risk factors as identified in Nano One’s MD&A and its Annual Information Form dated March 27, 2024, both for the year ended December 31, 2023, and in recent securities filings for the Company which are available at www.sedarplus.ca. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. The Company does not undertake any obligation to update any forward-looking statements or forward-looking information that is incorporated by reference herein, except as required by applicable securities laws. Investors should not place undue reliance on forward-looking statements.

The post Nano One Receives C$12.75 Million in Contributions from Government Programs appeared first on Nano One®.

Highlights:

• Dr. Campbell to retire as CTO in June and continue part-time in July managing IP.
• Dr. Liang has a long history with Nano One, has transitioned to senior VP of Technology and will lead technology, process innovation and readiness for commercialization.

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 updates to its senior technology leadership team.

After nearly a decade of guiding Nano One’s technological growth, Dr. Stephen Campbell is set to retire as Chief Technology Officer (CTO) at the end of June and shift in July to a part-time role managing the Company’s portfolio of intellectual property (IP). He will continue to work with board member, patent agent, IP specialist and domain knowledge expert Dr. Joseph Guy, on patent applications and prosecutions to ensure that the Company’s technology and its inventive processes are protected and leveraged as it scales.

Dr. Campbell will transition the day-to-day R&D leadership to Dr. Guoxian Liang, who has a long history with Nano One’s team in Québec, joined Nano One Burnaby part-time in spring 2024, and transitioned to full-time as Senior VP of Technology on March 3,^, 2025. Dr. Liang will lead R&D, technology, process innovation and readiness for commercialization.

“On behalf of the Board, our shareholders and the Nano One team,” said Mr. Blondal, CEO of Nano One, “I would like to thank Stephen for a decade of exemplary technical leadership and contributions as CTO, for the smooth transition with Guoxian, and for continuing his important duties managing our portfolio of IP. Stephen has played a vital role in creating shareholder value and technology advancements that include the innovative One-Pot Process, world-leading sulfate-free chemistry, and 50 patents granted in key jurisdictions around the globe. I would also like to extend a warm welcome to Guoxian, who has built a strong rapport with the Nano One team – We look forward to working with both Guoxian and Stephen going forward.”

Dr. Liang emphasized the opportunity ahead. “There is a strong need for the One-Pot Process technology in North America and Europe, and our team has a ten-year head start—an advantage that positions us for success. I have great confidence in this team’s expertise and drive to bring our technology to commercialization, and I’m excited to contribute my experience to this next phase of growth.”

With 19 years of battery industry experience, Dr. Liang has played a key role in the global commercialization of lithium-ion cathode materials. He was instrumental in the first large-scale commercialization of LFP at Phostech Lithium in 2006, a milestone in the industry. He later took on a global leadership role at Johnson Matthey, managing high-nickel cathode programs in Shanghai, before moving to Rivian’s Palo Alto team to support advanced battery development for electric vehicles. His expertise spans cathode development, cell engineering, product development, and scaling production processes, making him a valuable addition to Nano One’s leadership team. Dr. Liang holds a Ph.D. in Materials Science and Engineering from Harbin Institute of Technology in China.

Dr. Campbell shared his perspective on the transition: “Over the past ten years, we’ve advanced our chemical processing technologies to make what happens in the One Pot reactors unique, competitive and highly differentiated from both the established and the emerging methods of making cathode active materials. We have pioneered technology solutions to solve the long-term challenges of scaling high volume cathode production globally, when others were merely copying what worked in the past. This long-term thinking has rewarded us with a large and growing suite of patents, trademarks and trade secrets that protect our business and the interests of shareholder, government and industrial stakeholders. We’ve readied One-Pot for commercialization—and for continuous innovation. We have a world-class team, and I am confident as I prepare for semi-retirement, that Nano One’s technology is in very capable hands for the transition to production, licensing and growth.

“We have created value through process innovation, yet it is never truly done. It is a continuous process, and the team will keep pushing forward, refining and improving the technology to make it more efficient, cost-effective and globally competitive. I’m proud to have been part of a remarkable journey, glad to continue my contributions on IP, and excited for the growth phase of our business.”

###

About Nano One^®

Nano One^® Materials Corp. (Nano One) is a technology company changing how the world makes cathode active materials for lithium-ion batteries. Applications include stationary energy storage systems (ESS), portable electronics, and electric vehicles (EVs). The Company’s patented One-Pot process reduces costs, is easier-to permit, lowers energy intensity, environmental footprint, and reliance on problematic supply chains. The Company is helping to drive energy security, supply chain resilience, industrial competitiveness and increased performance through process innovation. Scalability is proven and being demonstrated at Nano One’s LFP (lithium-iron-phosphate) pilot production plant in Québec—leveraging the only facility and expertise of its kind outside of Asia. Strategic collaborations and partnerships with international companies like Sumitomo Metal Mining, Rio Tinto, and Worley are supporting a design-one-build-many licensing growth strategy—delivering cost-competitive, easier-to-permit and faster-to-market battery materials production solutions world-wide. Nano One has received funding from the Government of Canada, the Government of the United States, the Government of Québec, and the Government of British Columbia.

For more information, please visit nanoOne.ca

Cautionary Notes and Forward-looking Statements

Certain information contained herein may constitute “forward-looking information” and “forward-looking statements” within the meaning of applicable securities legislation. All statements, other than statements of historical fact, are forward-looking statements. Forward-looking information includes the Company’s current and future business and strategies; the intention to grow the business, operations, revenues, and potential activities of the Company; industry demand and adoption; sales of LFP and potential offtake commitments; competitive conditions; general economic conditions; the functions and intended benefits of Nano One’s technology and products; the development of the Company’s technology, supply chains and products; scalability of developed technology; current and future collaboration engineering, and optimization research projects; the successful and timely commencement of a commercialization phase; the purpose for expanding its facilities; the Company’s licensing, joint venture opportunities and/or potential royalty arrangements; the Company’s potential eligibility and benefit from recent global regulatory decisions; continued innovation on manufacturing processes, equipment and recycling; successful execution of the Company’s milestones; and the acceleration and  execution of the Company’s plans - which are contingent on support, grants and long-term support from the Company’s shareholders. Generally, forward-looking information can be identified by the use of terminology such as 'believe', 'expect', 'anticipate', 'plan', 'intend', 'continue', 'estimate', 'may', 'will', 'should', 'ongoing', ‘target’, ‘goal’, ‘potential’ or variations of such words and phrases or statements that certain actions, events or results “will” occur. Forward-looking statements are based on the current opinions and estimates of management as of the date such statements are made are not, and cannot be, a guarantee of future results or events. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information, including but not limited to:  the success in the marketing and deployment of the cathode manufacturing plant design packages; general and global economic and regulatory changes; next steps and timely execution of the Company’s business plans; the development of technology, supply chains, and plans for construction, scale-up and operation of cathode production facilities; successful current or future collaborations that may happen with OEM’s, miners or others; successful execution of the Company’s milestones; the execution of the Company’s plans which are contingent on support and grants; the Company's ability to achieve its stated goals; the commercialization of the Company’s technology and patents via license, joint venture and independent production; anticipated global demand, adoption and projected growth for LFP batteries; and other risk factors as identified in Nano One’s MD&A and its Annual Information Form dated March 27, 2024, both for the year ended December 31, 2023, and in recent securities filings for the Company which are available at www.sedarplus.ca. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. The Company does not undertake any obligation to update any forward-looking statements or forward-looking information that is incorporated by reference herein, except as required by applicable securities laws. Investors should not place undue reliance on forward-looking statements.

The post Nano One Provides Update on Technology Leadership appeared first on Nano One®.

Vancouver, Canada (TSX: NANO) (OTC: NNOMF) (Frankfurt: LBMB) 

Highlights:

• C$15.7 million in estimated net proceeds from sale of land and building in Candiac, Quebec.
• Ensures operational continuity and long-term stability.
• Strengthened balance sheet leverages government funding announced in 2024.
• Supports capacity expansion at Candiac to over 1000tpa of LFP cathode production.

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 that it has successfully closed the transaction announced on February 25, 2025, for the sale and lease back of its Candiac building and surrounding property in Candiac, Québec for estimated net proceeds of C$15.7 million (the “Transaction”). This Transaction significantly strengthens the Company’s financial position while supporting long-term operational stability.

Mr. Carlo Valente, CFO of Nano One, commented, “This Transaction reinforces our financial flexibility and ensures that we remain well-positioned to advance our commercialization efforts. It enables us to leverage over C$40 million in government funding while expanding our operations in alignment with our strategic vision.”

For further context into how this action supports Nano One’s objectives, please view the recent video with Mr. Alex Holmes, COO: https://nanoone.ca/news/nano-one-sells-and-leases-back-candiac-facility-to-strengthen-cash-position-and-expand-operations/.

Key Terms

The Transaction closed on February 28, 2025, and includes a vendor loan of C$2 million structured as a deferred payment secured by an immovable hypothec. Transaction costs inclusive of a lease security deposit are approximately C$1.3 million, resulting in estimated net proceeds of C$13.7 million at closing. The vendor loan incurs interest at 4% per annum and the deferred payment is due C$1 million plus interest upon the third anniversary and C$1 million plus interest upon the sixth anniversary from the date of closing. In addition to the proceeds and pursuant to a capital investment agreement, a separate C$3 million reserve will be funded by the purchaser and held in escrow to fund potential capital improvements, should the purchaser deem them necessary subsequent to closing.

As part of the Transaction, Nano One has entered into a lease agreement for an initial term of 15 years, with renewal options for up to an additional 15 years. Additionally, the Company retains a right of first offer should the purchaser decide to sell in the future, ensuring long-term stability for the Company’s operations.

###

About Nano One^®

Nano One^® Materials Corp. (Nano One) is a technology company changing how the world makes cathode active materials for lithium-ion batteries. Applications include stationary energy storage systems (ESS), portable electronics, and electric vehicles (EVs). The Company’s patented One-Pot process reduces costs, is easier-to permit, lowers energy intensity, environmental footprint, and reliance on problematic supply chains. The Company is helping to drive energy security, supply chain resilience, industrial competitiveness and increased performance through process innovation. Scalability is proven and being demonstrated at Nano One’s LFP (lithium-iron-phosphate) pilot production plant in Québec—leveraging the only facility and expertise of its kind outside of Asia. Strategic collaborations and partnerships with international companies like Sumitomo Metal Mining, Rio Tinto, and Worley are supporting a design-one-build-many licensing growth strategy—delivering cost-competitive, easier-to-permit and faster-to-market battery materials production solutions world-wide. Nano One has received funding from the Government of Canada, the Government of the United States, the Government of Québec, and the Government of British Columbia.

For more information, please visit www.nanoone.ca.

Company Contact

Paul Guedes

info@nanoone.ca

(604) 420-2041

Cautionary Notes and Forward-Looking Statements

Certain information contained herein may constitute “forward-looking information” and “forward-looking statements” within the meaning of applicable securities legislation. All statements, other than statements of historical fact, are forward-looking statements. Forward-looking information in this news release includes but is not limited to: the timely and successful closing of the Transaction; use of proceeds; the Company’s current and future business and strategies; the intention to grow the business, operations, revenues, and potential activities of the Company; general economic conditions; the functions and intended benefits of Nano One’s technology and products; the development of the Company’s technology, supply chains and products; scalability of developed technology; current and future collaboration engineering, and optimization research projects; continued innovation on manufacturing processes, equipment and recycling; successful execution of the Company’s milestones; and the acceleration and execution of the Company’s plans - which are contingent on support, grants and long-term support from the Company’s shareholders. Generally, forward-looking information can be identified by the use of terminology such as 'believe', 'expect', 'anticipate', 'plan', 'intend', 'continue', 'estimate', 'may', 'will', 'should', 'ongoing', ‘target’, ‘goal’, ‘potential’ or variations of such words and phrases or statements that certain actions, events or results “will” occur. Forward-looking statements are based on the current opinions and estimates of management as of the date such statements are made are not, and cannot be, a guarantee of future results or events. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information, including but not limited to: the successful conclusion of the Transaction; use of proceeds; general and global economic and regulatory changes; next steps and timely execution of the Company’s business plans; the development of technology, supply chains, and plans for construction, scale-up and operation of cathode production facilities; successful current or future collaborations that may happen with OEM’s, miners or others; successful execution of the Company’s milestones; the execution of the Company’s plans which are contingent on support and grants; the Company's ability to achieve its stated goals; the commercialization of the Company’s technology and patents via license, joint venture and independent production; anticipated global demand, adoption and projected growth for LFP batteries; and other risk factors as identified in Nano One’s MD&A and its Annual Information Form dated March 27, 2024, both for the year ended December 31, 2023, and in recent securities filings for the Company which are available at www.sedarplus.ca. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. The Company does not undertake any obligation to update any forward-looking statements or forward-looking information that is incorporated by reference herein, except as required by applicable securities laws. Investors should not place undue reliance on forward-looking statements. Please note that any links provided to third party websites are for informational purposes only. The Company does not endorse or take responsibility for the content, accuracy, or any other aspect of these websites. Additionally, the Company is not liable for any damages or loss arising from the use or access of any third party website linked to from our platform. Viewers should exercise their own discretion and review the terms of use and privacy policies of any third party website before accessing or interacting with their content.

The post Nano One Announces Closing of Agreement to Sell and Lease Back its Candiac Building and Property appeared first on Nano One®.

Vancouver, Canada (TSX: NANO) (OTC: NNOMF) (Frankfurt: LBMB) 

Highlights:

• C$15.7 million in estimated net proceeds from sale of land and building, of which C$2 million is a deferred payment in the form of vendor loan.
• Includes lease of at least 15 years and right of first offer to repurchase.
• Provides for operational continuity at the Candiac Operations in Québec.
• Strengthened balance sheet leverages government funding announced in 2024.
• Supports capacity expansion at Candiac to over 1000tpa of LFP cathode production.

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 that it has entered into definitive agreements for the sale and lease back of its Candiac building and surrounding property at 280 Liberté Avenue, Candiac, Québec (“Property”) to Candiac Industrial Properties (I) L.P. (“Purchaser”) for estimated net proceeds of C$15.7 million (the “Agreements”). This transaction significantly strengthens the Company’s cash balance while ensuring long-term operational stability in the province of Québec through a 15-year lease agreement with renewal provisions for up to an additional 15 years.

Mr. Carlo Valente, CFO of Nano One, commented, “This transaction bolsters our balance sheet and helps leverage over C$40 million in government funding and reimbursements that we secured and announced last year. It also accelerates the commercialization and capacity expansion of the Candiac operations to at least 1000 tpa of LFP cathode production."

With Nano One’s balance sheet now strengthened, the Company is well positioned to advance its commercialization and technology licensing efforts with its strategic partners. The funds also enable it to scale up operations in Candiac and push towards revenue generation from future LFP production and licensing.  

Key Terms

The Agreements are expected to close on or about February 28, 2025 and include a vendor loan of C$2 million that is a deferred payment and secured by an immovable hypothec, safeguarding Nano One’s interests. The transaction costs and a lease security deposit are estimated at C$1.3 million, resulting in estimated net proceeds to the Company at closing of C$13.7 million. The vendor loan incurs interest at 4% per annum and the deferred payment is due $1 million plus interest upon the third anniversary and $1 million plus interest upon the sixth anniversary from the date of closing. In addition to the proceeds and pursuant to a capital investment agreement, a separate C$3 million reserve will be funded by the Purchaser and held in escrow to fund potential capital improvements, should the Purchaser deem them necessary subsequent to closing.  

Concurrent with closing of the transaction, Nano One will enter into a lease agreement for the Property for an initial term of 15 years, with three optional 5-year renewal periods.  In addition, the Company has the right of first offer should the Purchaser decide to sell in the future.  This arrangement provides long-term stability for the Candiac operations.

###

About Nano One^®

Nano One^® Materials Corp. (Nano One) is a technology company changing how the world makes cathode active materials for lithium-ion batteries. Applications include stationary energy storage systems (ESS), portable electronics, and electric vehicles (EVs). The Company’s patented One-Pot process reduces costs, is easier-to permit, lowers energy intensity, environmental footprint, and reliance on problematic supply chains. The Company is helping to drive energy security, supply chain resilience, industrial competitiveness and increased performance through process innovation. Scalability is proven and being demonstrated at Nano One’s LFP (lithium-iron-phosphate) pilot production plant in Québec—leveraging the only facility and expertise of its kind outside of Asia. Strategic collaborations and partnerships with international companies like Sumitomo Metal Mining, Rio Tinto, and Worley are supporting a design-one-build-many licensing growth strategy—delivering cost-competitive, easier-to-permit and faster-to-market battery materials production solutions world-wide. Nano One has received funding from the Government of Canada, the Government of the United States, the Government of Québec, and the Government of British Columbia.

Cautionary Notes and Forward-looking Statements

Certain information contained herein may constitute “forward-looking information” and “forward-looking statements” within the meaning of applicable securities legislation. All statements, other than statements of historical fact, are forward-looking statements. Forward-looking information in this news release includes but is not limited to: timely closing of the Agreements and the successful conclusion thereof; use of proceeds; the Company’s current and future business and strategies; the intention to grow the business, operations, revenues, and potential activities of the Company; general economic conditions; the functions and intended benefits of Nano One’s technology and products; the development of the Company’s technology, supply chains and products; scalability of developed technology; current and future collaboration engineering, and optimization research projects; continued innovation on manufacturing processes, equipment and recycling; successful execution of the Company’s milestones; and the acceleration and  execution of the Company’s plans - which are contingent on support, grants and long-term support from the Company’s shareholders. Generally, forward-looking information can be identified by the use of terminology such as 'believe', 'expect', 'anticipate', 'plan', 'intend', 'continue', 'estimate', 'may', 'will', 'should', 'ongoing', ‘target’, ‘goal’, ‘potential’ or variations of such words and phrases or statements that certain actions, events or results “will” occur. Forward-looking statements are based on the current opinions and estimates of management as of the date such statements are made are not, and cannot be, a guarantee of future results or events. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information, including but not limited to: timely closing of the Agreements and the successful conclusion thereof general and global economic and regulatory changes; next steps and timely execution of the Company’s business plans; the development of technology, supply chains, and plans for construction, scale-up and operation of cathode production facilities; successful current or future collaborations that may happen with OEM’s, miners or others; successful execution of the Company’s milestones; the execution of the Company’s plans which are contingent on support and grants; the Company's ability to achieve its stated goals; the commercialization of the Company’s technology and patents via license, joint venture and independent production; anticipated global demand, adoption and projected growth for LFP batteries; and other risk factors as identified in Nano One’s MD&A and its Annual Information Form dated March 27, 2024, both for the year ended December 31, 2023, and in recent securities filings for the Company which are available at www.sedarplus.ca. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. The Company does not undertake any obligation to update any forward-looking statements or forward-looking information that is incorporated by reference herein, except as required by applicable securities laws. Investors should not place undue reliance on forward-looking statements. Please note that any links provided to third party websites are for informational purposes only. The Company does not endorse or take responsibility for the content, accuracy, or any other aspect of these websites. Additionally, the Company is not liable for any damages or loss arising from the use or access of any third party website linked to from our platform. Viewers should exercise their own discretion and review the terms of use and privacy policies of any third party website before accessing or interacting with their content.

The post Nano One Signs Definitive Agreement to Sell and Lease Back its Candiac Building and Property appeared first on Nano One®.

Nano One^® Materials Corp. ("Nano One" or the "Company"), a cleantech company with a patented process for the low-cost, low-GHG production of lithium-ion battery cathode active materials, is pleased to provide commentary from our Chair, Mr. Anthony Tse, and an update from our CEO, Mr. Dan Blondal, on the Company’s progress towards its long-term objectives. 

View this letter in its original stylized format (PDF).

Chairman’s Statement

Dear Shareholders,

I am pleased to share with you some perspectives on the state and outlook of the market and where I believe Nano One has a key role to play as the battery materials sector experiences unprecedented growth.

The global market for battery demand experienced robust growth in 2024, supported by increases in both the electric vehicle (EV) segment and the energy storage system (ESS) sectors. According to Rho Motion, 2024 global EV sales reported strong year-over-year growth – with a 25% increase totaling 17.1-million-unit sales. Regional sales were led by China, which reported 40% growth, followed by Rest of the World markets with a 27% increase – growth in the North American market slowed to a 9% increase, while the UK/European markets contracted by 3% for the year.

Global ESS installations also reported strong growth for the year, with a 53% year-over-year increase, representing a total of 205GWh installed capacity worldwide. China led regional growth, commanding a share over 67% of all ESS deployments globally, followed by North America as the next largest market. By category, grid applications represent over 78% of global deployment and importantly, of those energy storage systems deployed, over 98% were based on lithium-ion battery technologies.

In terms of chemistry mix, lithium iron phosphate (LFP) chemistries continued its strong growth momentum and now represents a 39% share of the EV battery market (Benchmark Minerals Intelligence) on a global basis. In the ESS segment, across both the grid and behind-the-meter applications, LFP is the dominant chemistry, accounting for over 95% of installed capacity (Rho Motion). According to Benchmark, LFP now represents over 56% of the global cathode market, a trend expected to continue due to the advantages of LFP chemistries in safety and cost-competitiveness, at both cell and systems levels. Its dominance in the storage segment means that this chemistry is poised for further growth in demand through 2025 and beyond, with currently an estimated 400+GWh of installations planned in the grid projects pipeline.

Nano One and its technology is well-positioned to capture the increasing growth in demand for LFP in markets outside of China, as the Company continues to progress on its patented One-Pot process and expand its production capabilities at the Candiac Facility in Québec Canada. At the same it, the Company is focused on evaluating and advancing opportunities to deploy its technology in other future cathode operations through partnerships globally.

Following my appointment as Chair last year, I have been working closely with the management team on refining the strategy and execution plan, as Nano One progresses initiatives to commercialize its process technology. The goal is to deliver scalable, efficient and sustainable cathode material solutions to meet the growing demand from the lithium-ion battery sector and thereby unlock shareholder value.

Thank you all for your continued support.

Anthony Tse
Chairman

Nano One Materials Corp.

Message from our CEO

Dear Shareholders,

2024 was a year of meaningful progress and execution for Nano One. We continued to deliver on the strategic goals we set, strengthening our foundation as we transition to commercial production and licensing.

Key highlights include:

• Secured $18 million in funding from the Québec Government, reinforcing our role in Québec’s strategy to build a complete LFP battery supply chain.
• Granted US$12.9 million from the U.S. Department of Defense, supporting the expansion of North American LFP production at our Candiac facility.
• Awarded C$2.8 million from Next Generation Manufacturing Canada (NGen) to support joint development of One-Pot reactors and kiln components.
• Added $5 million in non-dilutive working capital from sale of vacant land.
• Initiated and advanced a partnership with Worley to jointly design, market and license modular LFP production plants aimed at unlocking cost and permitting advantages with our One-Pot process.
• Cost Comparison study with Worley showcased that One-Pot delivers:
  • 30% savings in capital and operating costs,
  • 80% reduction in energy and water use,
  • 50% fewer GHG emissions, and
  • The complete elimination of wastewater.
• Grew our intellectual property portfolio with 11 new patents in 2024, totaling 48 globally, with more than 56 pending.

The global demand for LFP cathode materials continues to surge, driven by growing adoption in EVs, energy storage systems (ESS), and AI data centers. China, which dominates approximately 95% of global LFP production capacity (International Energy Agency, IEA, Global EV Outlook 2024), recently proposed export restrictions which cover processing technology and operational know-how used in the production of LFP cathode material, precursors, and raw material inputs. A move that came just after Trump’s 2024 day-one tariff threats (which were subsequently postponed). This demonstrates the strategic importance of LFP and is a wake-up call for the rest of the world to localize materials processing to ensure energy security, especially as North America and Europe enter a phase of unprecedented growth in the demand for energy. According to Rho Motion, the U.S. and EU have emerged as the second fastest-growing markets for energy storage systems (ESS), supported by expanding grid infrastructure.

Nano One has long anticipated these challenges and is uniquely positioned to meet demand, with our One-Pot enabled LFP cathode production facilities, designed for easy permitting, modular deployment, and rapid adoption. Our technology is homegrown, and our team has 20 years of experience making LFP. In other words, decoupled from China. We are serving a global market by enabling flexible feedstocks and cost-competitive production for waste-free and easy-to-permit plants that transcend borders.

With a diverse set of emerging clients that serve Europe, the Indo-Pacific, and the United States, Nano One can elect where it sells its LFP and to whom it licenses its technology—enabling us to navigate emerging markets, tariffs, and trade restrictions with agility. This flexibility is bolstered by strong government support, world-class strategic partners, and clearly defined near-, mid-, and long-term revenue pathways through production and licensing—bringing us closer than ever to delivering on our vision.

Our 2025 Catalysts Include:

• Finance – Begin drawing down $40M in government reimbursements to accelerate production, scaling, and commercial LFP sales.
• Increase Non-Dilutive Funding – Add further working capital from government programs and other sources.
• Capacity Expansion – Complete Candiac engineering & launch 1000+ tpa LFP capacity project.
• LFP sales – Sampling and sales of initial Candiac production volumes to support advancement towards multi-year contracts.
• CAM Package – Finalize 25 ktpa LFP CAM plant engineering design with Worley for licensing/joint venture.
• Licensing – Market LFP pre-sales and detailed CAM Package to secure LOI/MOU agreements.
• One-Pot Equipment – Design reactor and kiln components with Worley Chemetics and develop partnerships with other equipment providers.
• Supply Chain – Diversify region-specific raw materials supply base to support licensee growth.
• Innovation – Advancing M2CAM^® (Metals Direct to Cathode Materials) across all chemistries with partners while expanding our patent portfolio, production know-how, and product specification.

I am inspired by our team’s commitment and proud of our accomplishments. By continually achieving key milestones, we are steadfast in our commitment and creating long-term value for our shareholders.

Thank you for your continued trust in the team at Nano One.

Dan Blondal
Chief Executive Officer
Nano One Materials Corp.

###

About Nano One^®

Nano One^® Materials Corp. (Nano One) is a clean technology company changing how the world makes cathode active materials for lithium-ion batteries. Applications include electric vehicles (EVs), stationary energy storage systems (ESS), and consumer electronics. The Company’s patented One-Pot process reduces costs, carbon intensity (lower GHGs), environmental footprint, and reliance on problematic supply chains. Scalability is proven and being demonstrated at Nano One’s LFP (lithium-iron-phosphate) pilot production plant in Québec—the only facility and expertise of its kind outside of Asia. Strategic collaborations and partnerships with international companies like Sumitomo Metal Mining, Rio Tinto, and Worley are supporting a global growth strategy via technology licensing and joint ventures. Nano One has received funding from the Government of Canada, the Government of the United States, the Government of Québec, and the Government of British Columbia. The company is leveraging deep industry expertise and plans to license and deploy cleaner cathode manufacturing plant design packages—delivering cost-competitive and faster-to-market battery materials solutions world-wide.

For more information, please visit nanoOne.ca

Company Contact:

Paul Guedes

info@nanoone.ca

(604) 420-2041

Cautionary Notes and Forward-looking Statements

Certain information contained herein may constitute “forward-looking information” and “forward-looking statements” within the meaning of applicable securities legislation. All statements, other than statements of historical fact, are forward-looking statements. Forward-looking information in this shareholder letter includes the Company’s current and future business and strategies; the intention to grow the business, operations, revenues, and potential activities of the Company; industry demand and adoption; sales of LFP and potential offtake commitments; competitive conditions; general economic conditions; the functions and intended benefits of Nano One’s technology and products; the development of the Company’s technology, supply chains and products; scalability of developed technology; current and future collaboration engineering, and optimization research projects; the successful and timely commencement of a commercialization phase; the purpose for expanding its facilities; the Company’s licensing, joint venture opportunities and/or potential royalty arrangements; the Company’s potential eligibility and benefit from recent global regulatory decisions; continued innovation on manufacturing processes, equipment and recycling; successful execution of the Company’s milestones; and the acceleration and  execution of the Company’s plans - which are contingent on support, grants and long-term support from the Company’s shareholders. Generally, forward-looking information can be identified by the use of terminology such as 'believe', 'expect', 'anticipate', 'plan', 'intend', 'continue', 'estimate', 'may', 'will', 'should', 'ongoing', ‘target’, ‘goal’, ‘potential’ or variations of such words and phrases or statements that certain actions, events or results “will” occur. Forward-looking statements are based on the current opinions and estimates of management as of the date such statements are made are not, and cannot be, a guarantee of future results or events. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information, including but not limited to:  the success in the marketing and deployment of the cathode manufacturing plant design packages; general and global economic and regulatory changes; next steps and timely execution of the Company’s business plans; the development of technology, supply chains, and plans for construction, scale-up and operation of cathode production facilities; successful current or future collaborations that may happen with OEM’s, miners or others; successful execution of the Company’s milestones; the execution of the Company’s plans which are contingent on support and grants; the Company's ability to achieve its stated goals; the commercialization of the Company’s technology and patents via license, joint venture and independent production; anticipated global demand, adoption and projected growth for LFP batteries; and other risk factors as identified in Nano One’s MD&A and its Annual Information Form dated March 27, 2024, both for the year ended December 31, 2023, and in recent securities filings for the Company which are available at www.sedarplus.ca. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. The Company does not undertake any obligation to update any forward-looking statements or forward-looking information that is incorporated by reference herein, except as required by applicable securities laws. Investors should not place undue reliance on forward-looking statements.

The post Nano One Provides Shareholder Update appeared first on Nano One®.

Vancouver, Canada (TSX: NANO) (OTC: NNOMF) (Frankfurt: LBMB) 

Nano One^® Materials Corp. ("Nano One" or the "Company"), a cleantech company with a patented process for the low-cost, low-GHG production of lithium-ion battery cathode active materials, is pleased to announce the allowance and/or issuance of 7 new patents to its portfolio, bringing its 2024 total to 11, and its historical total to 48 with more than 56 further patent applications pending, in jurisdictions around the world. These recent patents not only fortify Nano One’s intellectual property (IP) portfolio but also add value for its shareholders and enhance the Company’s technological edge in a rapidly evolving market.

Dr. Stephen Campbell, Nano One’s Chief Technology Officer said “By safeguarding our innovations, we are positioned to lead advancements in energy efficiency and sustainability, which can translate into considerable commercial opportunities. Having a strong IP portfolio creates substantial shareholder value, showcasing our commitment to innovation and commercialization, while attracting partnerships and boosting investor confidence in our long-term growth prospects."

Recently Issued and/or Allowed Patents:

• Japanese Patent JP 7503208: Describes a novel battery assembled with high voltage spinel LNMO cathode material made using the One-Pot process and paired with an electrolyte for high durability.
• Indian Patent IN 512878: Describes the novel formation of a cathode material, with protective coating thereon, directly in a single processing step.
• Japanese Patent JP 7518972 and Taiwan Patent TW 110132742: Describes the M2CAM^® technology using the One-Pot sulfate-free process for the novel formation of lithiated mixed metal oxide cathode materials.
• Taiwan Patent TW I849754: Describes a novel kiln design for efficient calcination and thermal processing of CAM.
• United States Patent US 12,077,452: Describes a novel lithiated NMC precursor material prepared in the One-Pot process prior to thermal processing.
• China Patent CN 113875045: Describes an innovative one pot method that forms a novel coating on NMC, nickel-rich NMC and LNMO cathode materials to improve stability and durability when used in a lithium-ion battery.

The benefits of Nano One’s patented One-Pot process and M2CAM technology mainly attribute to the elimination of the traditional precursor steps (pCAM) by integrating them with the lithium addition step (CAM), high efficiency thermal processing, and the elimination of sodium sulphate wastewater. This is aimed at reducing complexity, cost, footprint, energy intensity, and greenhouse gas emissions compared to incumbent processes. This has the additional potential benefit of making One-Pot enabled CAM production facilities easier to site, permit, construct, and operate while decoupling from foreign supply chains of concern.

Explore more about Nano One’s sustainable One-Pot process and its environmental benefits at: nanoone.ca/technology.

###

About Nano One^®

Nano One^® Materials Corp. (Nano One) is a clean technology company changing how the world makes cathode active materials for lithium-ion batteries. Applications include electric vehicles (EVs), stationary energy storage systems (ESS), and consumer electronics. The Company’s patented One-Pot process reduces costs, carbon intensity (lower GHGs), environmental footprint, and reliance on problematic supply chains. Scalability is proven and being demonstrated at Nano One’s LFP (lithium-iron-phosphate) pilot production plant in Québec—the only facility and expertise of its kind outside of Asia. Strategic collaborations and partnerships with international companies like Sumitomo Metal Mining, Rio Tinto, and Worley are supporting a global growth strategy via technology licensing and joint ventures. Nano One has received funding from the Government of Canada, the Government of the United States, the Government of Québec, and the Government of British Columbia. The company is leveraging deep industry expertise and plans to license and deploy cleaner cathode manufacturing plant design packages—delivering cost-competitive and faster-to-market battery materials solutions world-wide.

For more information, please visit nanoOne.ca

Company Contact:
Paul Guedes
info@nanoone.ca
(604) 420-2041

Cautionary Notes and Forward-Looking Statements
Certain information contained herein may constitute “forward-looking information” and “forward-looking statements” within the meaning of applicable securities legislation. All statements, other than statements of historical fact, are forward-looking statements. Forward-looking information in this news release includes the Company’s current and future business and strategies; the intention to grow the business, operations, revenues, and potential activities of the Company; industry demand and adoption; sales of LFP and potential offtake commitments; competitive conditions; general economic conditions; the functions and intended benefits of Nano One’s technology and products; the development of the Company’s technology, supply chains and products; scalability of developed technology; current and future collaboration engineering, and optimization research projects; the successful and timely commencement of a commercialization phase; the purpose for expanding its facilities; the Company’s licensing, joint venture opportunities and/or potential royalty arrangements; the Company’s potential eligibility and benefit from recent global regulatory decisions; continued innovation on manufacturing processes, equipment and recycling; successful execution of the Company’s milestones; and the acceleration and  execution of the Company’s plans - which are contingent on support, grants and long-term support from the Company’s shareholders. Generally, forward-looking information can be identified by the use of terminology such as 'believe', 'expect', 'anticipate', 'plan', 'intend', 'continue', 'estimate', 'may', 'will', 'should', 'ongoing', ‘target’, ‘goal’, ‘potential’ or variations of such words and phrases or statements that certain actions, events or results “will” occur. Forward-looking statements are based on the current opinions and estimates of management as of the date such statements are made are not, and cannot be, a guarantee of future results or events. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information, including but not limited to: successful conclusion and receipt of the total amount of announced anticipated funding from the Government of Québec and Ministry of Environment; the success in the marketing and deployment of the cathode manufacturing plant design packages; general and global economic and regulatory changes; next steps and timely execution of the Company’s business plans; the development of technology, supply chains, and plans for construction, scale-up and operation of cathode production facilities; successful current or future collaborations that may happen with OEM’s, miners or others; successful execution of the Company’s milestones; the execution of the Company’s plans which are contingent on support and grants; the Company's ability to achieve its stated goals; the commercialization of the Company’s technology and patents via license, joint venture and independent production; anticipated global demand, adoption and projected growth for LFP batteries; and other risk factors as identified in Nano One’s MD&A and its Annual Information Form dated March 27, 2024, both for the year ended December 31, 2023, and in recent securities filings for the Company which are available at www.sedarplus.ca. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. The Company does not undertake any obligation to update any forward-looking statements or forward-looking information that is incorporated by reference herein, except as required by applicable securities laws. Investors should not place undue reliance on forward-looking statements. Please note that any links provided to third party websites are for informational purposes only. The Company does not endorse or take responsibility for the content, accuracy, or any other aspect of these websites. Additionally, the Company is not liable for any damages or loss arising from the use or access of any third party website linked to from our platform. Viewers should exercise their own discretion and review the terms of use and privacy policies of any third party website before accessing or interacting with their content.

The post Nano One Secures Its 11th New Patent in 2024 appeared first on Nano One®.

Funding Highlights:

• C$15M loan from Québec’s Ministry of Economy, Innovation and Energy through its mandated organization Investissement Québec. 
• C$3M grant from Québec’s Ministry of Environment, the Fight Against Climate Change, Wildlife and Parks. 
• Funding will be used to support piloting and increase production capacity at the Candiac plant.  
• Helps secure over 40 skilled jobs and set the stage for leadership in LFP, a cathode chemistry first commercialized in Québec over 20 years ago. 
• Government funding supplements US$12.9M grant awarded to Nano One by US DoD on Sep 30, 2024. 

Nano One^® Materials Candiac, a wholly-owned subsidiary of Nano One^® Materials Corp.("Nano One" or the "Company"), a cleantech company with a patented process for the low-cost, low-GHG production of lithium-ion battery cathode active materials, has been granted C$18 million in financing from the Government of Québec, which includes a C$15 million loan from the Ministry of the Economy, Innovation and Energy (MEIE) through its mandated organization Investissement Québec,  and a C$3 million grant from the Ministry of the Environment, the Fight against Climate Change, Wildlife and Parks (MELCCFP), through its Technoclimat program. This funding will enable the continuation of piloting and commercialisation of the One-Pot process, in addition to increasing production capacity of the Candiac plant. 

The C$15 million loan directly supports approximately $63.4 million of eligible expenditures between January 1, 2023, through December 31, 2026, at Nano One’s lithium iron phosphate (LFP) production facility in Candiac, Québec. Nano One estimates C$30 million of eligible expenditures have been incurred to date. The loan repayment period begins 60 months after first disbursement and will be repaid over a subsequent 60-month period.  

The $3M grant also reimburses expenses incurred at the Candiac facility, and is directed towards a transition to cleaner and more efficient manufacturing. 

Mr. Dan Blondal, CEO of Nano One said “We are grateful to the Government of Québec for its leadership and support of the battery industry and the emerging LFP market, and for recognizing Nano One’s commitment to piloting and commercializing our technology in the province. We made a pivotal acquisition in Candiac, Québec, on November 1, 2022, of North America’s only existing LFP production facility and have since integrated its highly experienced team. Candiac is positioned as a center of excellence to support larger scale production facilities and a localized supply chain that also reduces the environmental footprint of batteries, and we are delighted to be leading this in Québec.” 

The funds apply to some of the expenses incurred during the construction and operation of the company’s 200 tpa piloting line that was successfully commissioned in 2023, and for capacity expansion planned at the facility in 2025 and 2026.  

Québec’s contributions to Nano One’s Candiac facility complement the US$12.9 million in non-dilutive funding awarded to Nano One by the U.S. Department of Defense on September 30, 2024 which is similarly directed towards capacity expansion expenses at the Candiac facility. Support from Québec and the US Government accelerates trials, demonstration and commercialization. This support reinforces Nano One and Québec as leaders in the emerging North American lithium-ion battery supply chain for Electric Vehicles (EV’s), Energy Storage Systems (ESS), and defense applications. 

The benefits of One-Pot mainly attribute to the elimination of the iron and phosphate precursor steps (pCAM) by integrating them with the lithium addition step (CAM), high efficiency thermal processing, and the elimination of sodium sulphate wastewater. This has the potential to reduce complexity, costs, footprint, and energy intensity compared to incumbent processes. One-Pot enabled facilities could also be easier to site, permit, construct, operate and be decoupled from foreign supply chains of concern. Depending on energy sources and jurisdiction, there  could also be a reduction of GHG emissions by up to 50% compared to incumbent methods of producing LFP CAM, as outlined in a full life cycle assessment carried out by Minviro in 2023. 

“By investing $18 million in the Nano One pilot plant project, we are giving ourselves the means to strengthen Québec's expertise in the manufacturing of Québec green batteries. It's with initiatives like these that our government continues to position Québec as a leader in this sector of the future for our energy transition and our economy.”

Christine Fréchette, Minister of the Economy, Innovation and Energy and Minister responsible for Regional Economic Development

“Our government is proud to support innovative projects like Nano One's, which are part of our commitment to electrifying the economy to achieve our energy transition objectives. This project will help make Québec a leader in the rapidly expanding battery industry, and position it as a global market leader.”

Benoit Charette, Minister of the Environment, Climate Change, Wildlife and Parks

“Nano One is one of the few manufacturers of LFP-type CAMs in North America, and we are privileged to welcome its pilot plant here in Candiac. This is excellent news for the development of our regional expertise in the battery industry, but above all for the vitality of our economy in the Montérégie region.”

Christian Dubé, Member of Parliament for La Prairie and Minister of Health

“The establishment of the Nano One pilot plant is a structuring project that will boost Québec’s battery industry thanks to a competitive and very promising technology. Investissement Québec is proud to support innovative companies like Nano One so that they can reach their full potential while contributing to the development of strategic sectors of our economy.” 

Bicha Ngo, President and CEO of Investissement Québec. 

###

About Nano One^®

Nano One^® Materials Corp. (Nano One) is a clean technology company changing how the world makes cathode active materials for lithium-ion batteries. Applications include electric vehicles (EVs), stationary energy storage systems (ESS), and consumer electronics. The Company’s patented One-Pot process reduces costs, carbon intensity (lower GHGs), environmental footprint, and reliance on problematic supply chains. Scalability is proven and being demonstrated at Nano One’s LFP (lithium-iron-phosphate) pilot production plant in Québec—the only facility and expertise of its kind outside of Asia. Strategic collaborations and partnerships with international companies like Sumitomo Metal Mining, Rio Tinto, and Worley are supporting a global growth strategy via technology licensing and joint ventures. Nano One has received funding from the Government of the United States, the Government of Canada, the Government of British Columbia and the Government of Québec. The company is leveraging deep industry expertise and plans to license and deploy cleaner cathode manufacturing plant design packages—delivering cost-competitive and faster-to-market battery materials solutions world-wide.

For more information, please visit nanoOne.ca.

Company Contact:
Paul Guedes
info@nanoone.ca
(604) 420-2041

Cautionary Notes and Forward-looking Statements
Certain information contained herein may constitute “forward-looking information” and “forward-looking statements” within the meaning of applicable securities legislation. All statements, other than statements of historical fact, are forward-looking statements. Forward-looking information in this news release includes but is not limited to: receipt of the total amount of announced anticipated funding from the Government of Québec and Ministry of Environment; the success in the marketing and deployment of the cathode manufacturing plant design packages; the development of technology, supply chains, and plans for expansion and operation of cathode production facilities; the Company’s current and future business and strategies; the intention to grow the business, operations, revenues, and potential activities of the Company; industry demand and adoption; sales of LFP and potential offtake commitments; competitive conditions; general economic conditions; the functions and intended benefits of Nano One’s technology and products; the development of the Company’s technology, supply chains and products; scalability of developed technology; current and future collaboration engineering, and optimization research projects; the successful and timely commencement of a commercialization phase; the purpose for expanding its facilities; the Company’s licensing, joint venture opportunities and/or potential royalty arrangements; the Company’s potential eligibility and benefitfrom recent global regulatory decisions; continued innovation on manufacturing processes, equipment and recycling; successful execution of the Company’s milestones; and the acceleration and  execution of the Company’s plans - which are contingent on support, grants and long-term support from the Company’s shareholders. Generally, forward-looking information can be identified by the use of terminology such as 'believe', 'expect', 'anticipate', 'plan', 'intend', 'continue', 'estimate', 'may', 'will', 'should', 'ongoing', ‘target’, ‘goal’, ‘potential’ or variations of such words and phrases or statements that certain actions, events or results “will” occur. Forward-looking statements are based on the current opinions and estimates of management as of the date such statements are made are not, and cannot be, a guarantee of future results or events. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information, including but not limited to: successful conclusion and receipt of the total amount of announced anticipated funding from the Government of Québec and Ministry of Environment; the success in the marketing and deployment of the cathode manufacturing plant design packages; general and global economic and regulatory changes; next steps and timely execution of the Company’s business plans; the development of technology, supply chains, and plans for construction, scale-up and operation of cathode production facilities; successful current or future collaborations that may happen with OEM’s, miners or others; successful execution of the Company’s milestones; the execution of the Company’s plans which are contingent on support and grants; the Company's ability to achieve its stated goals; the commercialization of the Company’s technology and patents via license, joint venture and independent production; anticipated global demand, adoption and projected growth for LFP batteries; and other risk factors as identified in Nano One’s MD&A and its Annual Information Form dated March 27, 2024, both for the year ended December 31, 2023, and in recent securities filings for the Company which are available at www.sedarplus.ca. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. The Company does not undertake any obligation to update any forward-looking statements or forward-looking information that is incorporated by reference herein, except as required by applicable securities laws. Investors should not place undue reliance on forward-looking statements. Please note that any links provided to third party websites are for informational purposes only. The Company does not endorse or take responsibility for the content, accuracy, or any other aspect of these websites. Additionally, the Company is not liable for any damages or loss arising from the use or access of any third party website linked to from our platform. Viewers should exercise their own discretion and review the terms of use and privacy policies of any third party website before accessing or interacting with their content.

The post Nano One Awarded $18 Million from the Government of Québec to Support Low Cost, High Efficiency and Cleaner LFP Cathode Production at its Candiac Facility appeared first on Nano One®.

Vancouver, Canada (TSX: NANO) (OTC: NNOMF) (Frankfurt: LBMB)

• Detailed pre-license package now being offered to target customers.
• Cost comparison confirms economic advantages of One-Pot process.
• “Design-one-build-many” plant layouts completed.
• Further engineering underway to scale-up and de-risk technology delivery.

Nano One^® Materials Corp. (“Nano One” or the “Company”), a clean technology company with a patented process for the low-cost, low-greenhouse gas (GHG) production of lithium-ion battery cathode active materials (CAM), is pleased to report on the progress of the Worley Chemetics - Nano One Strategic Alliance (“Alliance”), including a jointly conducted cost comparison confirming the economic advantages of Nano One’s patented One-Pot process for lithium iron phosphate (LFP). In addition, the preliminary design and full-scale layout of the modular “design-one-build-many” plant is complete and being marketed with the cost comparison study to prospective clients.

Figure 1. Preliminary design and layout of the modular One-Pot-enabled LFP cathode production line.
Image Source: Worley and Nano One.

The comparative analysis showed that One-Pot could enable at least 30% lower costs in total invested capital and up to 30% lower operational costs, using up to 80% less energy than the incumbent method. One-Pot also eliminates sodium sulphate wastewater and as reported on December 6, 2023, could use up to 80% less process water and reduce GHG emissions by up to 50% depending on energy sources and jurisdiction.

Laura Leonard, Worley Group President of Technology Solutions, said, “As we continue marketing the One-Pot process, it’s compelling to see data demonstrating our competitive edge. We are working collaboratively with Nano One on initial sales efforts while developing a detailed LFP CAM technology package for potential licensees. Nothing is more validating than the interest we are seeing from our mature customer base.”

The benefits of One-Pot mainly attribute to the elimination of the iron and phosphate precursor steps (pCAM) by integrating them with the lithium addition step (CAM), high efficiency thermal processing and the elimination of sodium sulphate wastewater. These factors reduce complexity, costs, footprint and energy consumption and are a credible benchmark for sustainable, scalable and highly competitive CAM production with facilities that should be easier to site, permit, construct and operate.

The Strategic Alliance has also completed a layout of the modular plant with operability and maintainability in mind and is accelerating engineering and qualification of vendor equipment to complete the LFP CAM Technology Package and support customer ambitions in this market. Worley Chemetics, a wholly owned subsidiary of Worley, who develop, design, fabricate and sell chemical processing technology packages globally, has had 60 years of proven success with this approach.

Nano One CEO Dan Blondal said, “The economic rationale and business case for licensing One-Pot enabled LFP CAM technology packages are rapidly coming together due in part to Worley’s industry-leading expertise and Nano One’s advanced work on LFP. The Alliance is increasingly well positioned to provide a leading, cost-competitive and environmentally focused solution for the production of LFP.”

The analysis estimated and compared the cost of two 25,000 tonne per annum (tpa) North American CAM production facilities that convert iron, phosphate and lithium sources into LFP, one enabled with One-Pot technology from Nano One, and the other using incumbent high-volume production technology from China. The operating and capital cost estimates of the incumbent technology were done to a Class 5 level in accordance with the Association for the Advancement of Cost Engineering (AACE) and included the treatment of sodium sulphate wastewater in North America. Comparisons were made with Nano One’s One-Pot process from a previously completed FEL-2 pre-feasibility study and an ongoing FEL-3 feasibility study. Nano One and Worley are confident with the cost estimates which are based on equipment quotes from various major vendors, installation factors, indirect costs, and best practices in engineering, procurement and construction management (EPCM). The specifics on the analysis are commercially sensitive and are being held in confidence so they may be leveraged effectively by the Alliance in marketing and technology licensing discussions with potential customers.

Background

Worley and Nano One entered into a Strategic Alliance Agreement and a License Agreement on May 2, 2024, and are jointly developing, marketing and licensing a process engineering design package (CAM Package) to produce LFP CAM. The CAM Package incorporates Nano One’s patented One-Pot processing technology and reduces cost, energy intensity, GHG emissions, and permitting risk by reducing process complexity and eliminating sodium sulphate wastewater.

Nano One made a pivotal acquisition in Q4 2022 of North America’s only LFP production facility in Candiac, Québec and has integrated its highly experienced team. This led to transformative strategic partnerships with Rio Tinto, Sumitomo Metal Mining and Worley.

The Candiac facility is crucial for providing target end customers and licensees with samples for qualification and is serving as a launchpad for Nano One and Worley’s “design-one-build-many” licensing growth strategy. Capacity expansion at the plant is supported in part by a US$12.9M award from the US Department of Defense, as announced on September 26, 2004, while the design and construction of proprietary equipment are being supported in part by a C$2.8M award from Next Generation Manufacturing Canada (NGen), as announced on August 13, 2024.

Explore more about Nano One’s sustainable One-Pot process and its environmental benefits at nanoone.ca/technology.

###

About Worley

Worley is a global professional services company of energy, chemicals and resources experts. We partner with customers to deliver projects and create value over the life of their assets. We’re bridging two worlds, moving towards more sustainable energy sources, while helping to provide the energy, chemicals and resources needed now. Worley Limited is headquartered in Australia and listed on the Australian Securities Exchange (ASX: WOR).

About Nano One^®

Nano One^® Materials Corp. (Nano One) is a clean technology company changing how the world makes cathode active materials for lithium-ion batteries. Applications include electric vehicles (EVs), stationary energy storage systems (ESS), and consumer electronics. The Company’s patented One-Pot process reduces costs, carbon intensity (lower GHGs), environmental footprint, and reliance on problematic supply chains. Scalability is proven and being demonstrated at Nano One’s LFP (lithium-iron-phosphate) pilot production plant in Québec—the only facility and expertise of its kind outside of Asia. Strategic collaborations and partnerships with international companies like Sumitomo Metal Mining, Rio Tinto, and Worley are supporting a global growth strategy via technology licensing and joint ventures. Nano One has received funding from the Government of Canada, the Government of the United States and the Government of British Columbia. The company is leveraging deep industry expertise and plans to license and deploy cleaner cathode manufacturing plant design packages—delivering cost-competitive and faster-to-market battery materials solutions world-wide.

For more information, please visit nanoOne.ca

Company Contact:

Paul Guedes

info@nanoone.ca

(604) 420-2041

Cautionary Notes and Forward-looking Statements

Certain information contained herein may constitute “forward-looking information” and “forward-looking statements” within the meaning of applicable securities legislation. All statements, other than statements of historical fact, are forward-looking statements. Forward-looking information in this news release includes but is not limited to: streamlining operations, LFP production, joint ventures, contracted projects, revenue generation, operational growth, licensing, offtakes, capacity expansion through use of funding from the DoD, funding from SDTC, the development of technology, supply chains, and plans for construction and operation of cathode production facilities and Development Project; the Company’s current and future business and strategies; estimated future working capital, funds available, and uses of funds, future capital expenditures and other expenses for commercial operations; industry demand; incurrence of costs; competitive conditions; general economic conditions; the intention to grow the business, operations and potential activities of the Company; the functions and intended benefits of Nano One’s technology and products; the development and optimization of the Company’s technology and products; prospective partnerships and the anticipated benefits of the Company’s partnerships; the Company’s licensing and, the scalability of developed technology to meet expanded capacity; and the execution of the Company’s stated plans - which are contingent on access to capital and grants. Generally, forward-looking information can be identified by the use of terminology such as 'believe', 'expect', 'anticipate', 'plan', 'intend', 'continue', 'estimate', 'may', 'will', 'should', 'ongoing', ‘target’, ‘goal’, ‘potential’ or variations of such words and phrases or statements that certain actions, events or results “will” occur. Forward-looking statements are based on the current opinions and estimates of management as of the date such statements are made are not, and cannot be, a guarantee of future results or events. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information, including but not limited to: general and global economic and regulatory changes; next steps and timely execution of the Company’s business plans; the development of technology, supply chains, and plans for construction and operation of cathode production facilities; successful current or future collaborations that may happen with OEM’s, miners or others; the execution of the Company’s plans which are contingent on support and grants; the Company's ability to achieve its stated goals; the commercialization of the Company’s technology and patents via license, joint venture and independent production; anticipated global demand and projected growth for LFP batteries; and other risk factors as identified in Nano One’s MD&A and its Annual Information Form dated March 27, 2024, both for the year ended December 31, 2023, and in recent securities filings for the Company which are available at www.sedarplus.ca. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. The Company does not undertake any obligation to update any forward-looking statements or forward-looking information that is incorporated by reference herein, except as required by applicable securities laws. Investors should not place undue reliance on forward-looking statements.

The post Nano One Provides Progress Update on its Alliance with Worley and Cost Comparison Demonstrating the Case for One-Pot™ Enabled LFP Cathode Production appeared first on Nano One®.

Vancouver, Canada (TSX: NANO) (OTC: NNOMF) (Frankfurt: LBMB)

Q3 2024 Results and Subsequent Events – Highlights and Headlines

• Streamlining operations and increasing focus on LFP production and licensing
• Closing on $5.0 million sale of vacant land
• Award of US$12.9 million from the Department of Defense (DoD) of the USA
• Appointment of Anthony Tse as New Chair of the Board of Directors
• Total net assets of $26.9 million and working capital of $10.9 million at Q3 2024 period end
• SDTC project update

Nano One^® Materials Corp. (“Nano One” or the “Company”) is a clean technology company with patented processes for the low-cost, low-GHG production of lithium-ion battery cathode active materials (“CAM”).

Nano One has filed its condensed interim consolidated financial statements (the “financial statements”) and management’s discussion & analysis (“MD&A”) as at and for the nine months ended September 30, 2024 (“Q3 2024”) and is pleased to provide a summary and an update on subsequent events.

Streamlining Operations to Focus on LFP Commercialization

In August 2024, the Company announced the streamlining of its operations, allowing for increased focus on lithium iron phosphate (“LFP”), joint ventures, contracted projects, accelerated path to revenue generation, and growth through licensing. The Company announced its commitment to controlling costs and focusing on near-term commercialization targets.

Nano One has the goal of licensing its One-Pot LFP CAM packages, globally, to chemicals, materials, and energy companies looking to produce CAM for the battery market in EV and ESS applications. Shareholder value will be created with increased market penetration through the Company’s partnership channels, with the low cost of capital from its licensees, and by diversifying revenue exposure via the Worley Chemetics alliance to include equipment procurement, along with licensing fees and revenues from its plant in Candiac, Québec.

The Company’s piloting facility in Candiac provides a distinct advantage in North America as it can produce cathode materials at a commercially relevant scale today with the capability of expanding capacity up to 2,000 tpa. The facility will serve a robust pipeline of potential LFP CAM customers that include automotive, energy and stationary storage and US government contractors, and will be the basis and center of excellence for much larger facilities via the Company’s “Design One, Build Many” licensing and growth strategy.

Nano One closes on $5.0 Million Sale of Vacant Land

In September 2024, the Company announced closing on the sale of vacant land which was part of the 2022 acquisition of Johnson Matthey Battery Materials Canada Ltd., for gross proceeds of $5.0 million. Nano One sold the land to a flexible packaging leader for the food industry in Canada.

The proceeds from the sale provides capital that supports the LFP cathode manufacturing facility on the remaining property in Candiac, Québec and the innovation hub in Burnaby, British Columbia. These existing facilities remain the launch pad for the Nano One's growth strategy and a clear path to first revenue and larger offtakes.

Department of Defense awards Nano One US$12.9 Million

In September 2024, the Company announced the award of US$12.9 million (~$17.8 million) by the Department of Defense (DoD) of the United States of America (USA) through the Defense Production Act Investments (DPAI) office’s Title III program. The funding supports capacity expansion at the existing Candiac, Québec LFP production facility as well as the Burnaby, British Columbia R&D facilities while expanding the LFP industrial base and strengthening energy security in North America.

Appointment of Industry Veteran Anthony Tse as New Chair of the Board of Directors

Effective October 1, 2024, the Company appointed Mr. Anthony Tse as the new Chair of the Board of Directors succeeding Paul Matysek, who is the founding Chair of Nano One and resigned as part of a planned transition to an advisory role that supports the incoming Chair and Board.

SDTC First Amendment to Project Funding Agreement

Under its February 2023 agreement with Sustainable Development Technology Canada (SDTC), Nano One was to be reimbursed for up to $10,000,000 in eligible project expenses to support the conversion of Nano One’s Candiac facility to the patented One-Pot process for industrial-scale pilot production of LFP. The SDTC project was to also include financial reimbursement for expenses incurred in the design, construction, and operation of a multi-cathode piloting hub (MCPH) at the Company’s facility in Candiac, Québec.

To re-align the SDTC program with the Company’s focus on LFP and commercialization as announced on August 22, 2024, Nano One and SDTC executed an amended agreement, on November 6, 2024, that changed the scope of the project to exclude the MCPH component of the program and include certain feasibility and engineering expenses (“FEL3”) related to the development of a larger LFP CAM facility (the “Development Project”). This amendment helped reduce overall project costs to Nano One and as such, it also reduced the projected reimbursements from SDTC for these expenses to approximately $6,700,000.

Q3 2024 – Financial Position

As at September 30, 2024, the Company’s total net assets and working capital were $26.9 million and $10.9 million, respectively.

For a more detailed discussion of Nano One’s Q3 2024 interim results, please refer to the Company’s financial statements, and MD&A, which are available at www.sedarplus.ca.

###

About Nano One^®

Nano One^® Materials Corp. (Nano One) is a clean technology company changing how the world makes cathode active materials for lithium-ion batteries. Applications include electric vehicles (EVs), stationary energy storage systems (ESS), and consumer electronics. The Company’s patented One-Pot process reduces costs, carbon intensity (lower GHGs), environmental footprint, and reliance on problematic supply chains. Scalability is proven and being demonstrated at Nano One’s LFP (lithium-iron-phosphate) pilot production plant in Québec—the only facility and expertise of its kind outside of Asia. Strategic collaborations and partnerships with international companies like Sumitomo Metal Mining, Rio Tinto, and Worley are supporting a global growth strategy via technology licensing and joint ventures. Nano One has received funding from the Government of Canada, the Government of the United States and the Government of British Columbia. The company is leveraging deep industry expertise and plans to license and deploy cleaner cathode manufacturing plant design packages—delivering cost-competitive and faster-to-market battery materials solutions world-wide.

For more information, please visit www.nanoone.ca

Company Contact:

Paul Guedes

info@nanoone.ca

(604) 420-2041

Cautionary Notes and Forward-looking Statements

Certain information contained herein may constitute “forward-looking information” and “forward-looking statements” within the meaning of applicable securities legislation. All statements, other than statements of historical fact, are forward-looking statements. Forward-looking information in this news release includes but is not limited to: streamlining operations, LFP production, joint ventures, contracted projects, revenue generation, operational growth, licensing, offtakes, capacity expansion through use of funding from the DoD, funding from SDTC, the development of technology, supply chains, and plans for construction and operation of cathode production facilities and Development Project; the Company’s current and future business and strategies; estimated future working capital, funds available, and uses of funds, future capital expenditures and other expenses for commercial operations; industry demand; incurrence of costs; competitive conditions; general economic conditions; the intention to grow the business, operations and potential activities of the Company; the functions and intended benefits of Nano One’s technology and products; the development and optimization of the Company’s technology and products; prospective partnerships and the anticipated benefits of the Company’s partnerships; the Company’s licensing and, the scalability of developed technology to meet expanded capacity; and the execution of the Company’s stated plans - which are contingent on access to capital and grants. Generally, forward-looking information can be identified by the use of terminology such as 'believe', 'expect', 'anticipate', 'plan', 'intend', 'continue', 'estimate', 'may', 'will', 'should', 'ongoing', ‘target’, ‘goal’, ‘potential’ or variations of such words and phrases or statements that certain actions, events or results “will” occur. Forward-looking statements are based on the current opinions and estimates of management as of the date such statements are made are not, and cannot be, a guarantee of future results or events. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information, including but not limited to: general and global economic and regulatory changes; next steps and timely execution of the Company’s business plans; the development of technology, supply chains, and plans for construction and operation of cathode production facilities; successful current or future collaborations that may happen with OEM’s, miners or others; the execution of the Company’s plans which are contingent on support and grants; the Company's ability to achieve its stated goals; the commercialization of the Company’s technology and patents via license, joint venture and independent production; anticipated global demand and projected growth for LFP batteries; and other risk factors as identified in Nano One’s MD&A and its Annual Information Form dated March 27, 2024, both for the year ended December 31, 2023, and in recent securities filings for the Company which are available at www.sedarplus.ca. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. The Company does not undertake any obligation to update any forward-looking statements or forward-looking information that is incorporated by reference herein, except as required by applicable securities laws. Investors should not place undue reliance on forward-looking statements.

The post Nano One Reports Q3 2024 Results and Provides Update appeared first on Nano One®.