Following this and CEO Board passive, but now it is too much emotional for my point of view. I can only refer to official SEDAR released documents where you see a clear pathway as follow (latest MD&A Release)
Check this and inform yourself outsite of Chat coms Like this.
Nano says the following:
2024 OBJECTIVES AND COMMERCIALIZATION UPDATES
A 25,000 tpa LFP commercial plant development project will require completion of the FEL 3 study (see below), product
validation and customer offtake, and feedstock supply agreements. These items are fundamental for project financing and
are a top priority for Nano One in 2024.
Optimization and product validation work will continue through 2024 and into 2025 for the purposes of:
a) Generating product sales and first revenues, and expanding capacity of the LFP pilot plant up to 1,000 to 2,000
tpa, at the Company’s existing facilities in Candiac, Qubec;
b) Securing larger volume customer offtakes in support of the current 25,000 tpa LFP plant development project;
c) Informing the FEL 3 design study and financial investment decisions for the 25,000 tpa LFP project; and
d) Developing, marketing, licensing, and deploying of One-Pot enabled LFP CAM packages (engineering process
design packages) in collaboration with Worley (see “License and Alliance Agreement with Worley Chemetics”
above)
We are in active dialogue with government agencies, project finance lenders, and strategic partners to secure funding for
both growth activities, a commercial LFP plant, and ongoing innovations. A final investment decision will only be made
following the securing of plant-specific funding.
We are focused on meeting market demand while harnessing government support. It is our intention to use the Candiac
facility as an industrial-scale LFP piloting and demonstration production facility that generates revenues while supporting
the design, engineering, and construction of our first commercial LFP plant. This plant will have at least one production line
and will serve as a blueprint for modular multi-line production facilities under a hybrid business model that includes
licensing, joint venture and independent production in Canada, USA, Europe, Indo-Pacific region, and other emerging
battery jurisdictions. This strategy is aimed at serving demand from the energy storage, mobility, and electric vehicle
markets.
Site Selection and Government Incentives
As an integral part of the feasibility study, dialogue with governments and their agencies is focused on key factors that
impact our ability to scale-up rapidly and meet market demands. It is in our best interests to consider a broader set of site
options that may be more suitable for future growth expansion beyond a 25,000 tpa LFP plant development project. Key
considerations include government incentives in the form of grants and forgivable loans, access to sufficient utilities (power,
water, natural gas) and location preferences from collaborating stakeholders. With the support of provincial and municipal
governments we have identified potential site options in Qubec and Ontario. We remain in active discussions with
governments at all levels, and other strategic partners to narrow down site selection. We are closely monitoring government
incentive programs in North America and have been engaged in conversations with several levels of government to ensure
that we can align our business plans and scale-up to meet emerging market needs in North America.
Commercial Plans
Our 200 tpa LFP pilot plant was commissioned in Q4 2023, and our future commercial plans include the possibility of
expanding its capacity up to 1,000 to 2,000 tpa, and the design and development of a 25,000 tpa LFP commercial plant. The
existing facilities are equipped with commercial scale equipment that have significantly de-risked our capacity to scale and
we have confirmed orders for tonne-scale sample evaluations. Our goal is to launch LFP in North America, followed by
Europe and the Indo-Pacific region. Expanding our pilot plant up to a 2,000 tpa demonstration plant is contingent on initial
sales commitments, customer technology validation, capital support from government, and financial returns.
Through to March 31, 2024, we have incurred approximately $200,000 (no amounts incurred during Q1 2024), in
engineering and planning costs related to this potential expansion of the pilot plant to 2,000 tpa.
Feasibility Study (FEL 3) (ongoing)
On February 27, 2024, we announced the commencement of a feasibility study (FEL 3) for a 25,000 tpa LFP commercial
plant to support securing customer offtake, feedstock supply, and future project funding. The plant design will form the
basis of Nano One’s modular Design-Once-Build-Many strategy to address the broader LFP market. The FEL 3 study will
provide an optimal production line layout and maximum utility of key equipment. Furthermore, this study will address Nano
One’s mid-to-longer-term objective of deploying multi-line facilities under license or joint venture with partners in Indo-
Pacific, North American, and European jurisdictions. Progress at Nano One’s pilot plant has helped de-risk, improve, and
optimize the One-Pot process for LFP in commercial scale equipment while informing engineering plans and providing
confidence to collaborators on the long-term competitive viability of Nano One’s CAM production technology.
Through to March 31, 2024, Nano One had cumulatively incurred on a cash-basis approximately $8,100,000 in converting
and commissioning the One-Pot 200 tpa LFP pilot plant. Of this amount, approximately $400,000 was paid as at and during
the three months ended March 31, 2024. These costs are largely aligned with budgets and expectations.
The abovementioned FEL 3 study is underway, to which $800,000 had been paid through to March 31, 2024 (entirely
during Q1 2024), in relation to the 25,000 tpa LFP commercial plant.
Pre-Feasibility Study (FEL 2) (completed)
In October 2023, we announced the completion of a FEL 2 pre-feasibility study which estimates that the optimal capacity
for a One-Pot LFP production line is 12,500 tpa and that two such lines (25,000 tpa LFP commercial plant) could be built
at our site in Candiac, Qubec, making it significantly more efficient in size, footprint, and capital cost than other commercial
methods of making LFP.