Nano One achieves milestone 2 of the scaling Advanced Battery Materials Project
Nano One Achieves Milestone 2 of the Scaling Advanced Battery Materials Project with Support from Sustainable Development Technology Canada and the British Columbia Innovative Clean Energy Fund
Nano One® Materials Corp. is a clean technology company with patented processes for the low-cost, low-environmental footprint production of high-performance cathode materials used in lithium-ion batteries. Nano One is pleased to announce the achievement of milestone 2 of the “Scaling Advanced Battery Materials” project jointly funded by Sustainable Development Technology Canada (SDTC) and the British Columbia Innovative Clean Energy (ICE) fund. Consequently, the advance funding for project milestone 3, in the amount of $1,652,859 – $1,095,057 from SDTC and $557,802 from the ICE fund – has been released to Nano One.
“Within milestone 2, Nano One has strengthened our process for both Lithium Iron Phosphate (LFP) and Nickel Manganese Cobalt (NMC) cathode materials.” said Mr. Dan Blondal, CEO, “Nano One’s capabilities and capacity have also significantly increased in this milestone through the addition of staff and equipment and the tripling of our laboratory, pilot and office facilities. Nano One is now focused on milestone 3 which involves economic modeling and scaled-up demonstration of both LFP and NMC.”
The SDTC funding of the Scaling of Advanced Battery Materials project was announced in Nano One’s News Release of May 31, 2019. The British Columbia ICE fund became a joint funder of this project as announced in the Nano One’s news release of May 6, 2020. All funds are non-dilutive and non-repayable. The project involves a number of consortium and strategic partners and has a combined funding of $8.2M over 4 milestones.
“Through the B.C. Innovative Clean Energy Fund, we are supporting made-in-B.C. innovations that will help grow our world-leading cleantech sector and create good jobs,” said Bruce Ralston, Minister of Energy, Mines and Low Carbon Innovation. “Nano One’s project will help grow our local electric vehicle sector and support our transition to a low-carbon economy.”