"The final rule should be out soon. ... In the meantime, the smaller Canadian battery company, Nano One, says it's watching closely." https://www.cbc.ca/news/world/ev-regulations-inflation-reduction-act-analysis-1.6894282
Nano One Materials Corp (Nano One) is an innovator of cathode processing technology for lithium-ion batteries, and as an established leader committed to the creation of clean, competitive, sustainable, and secure supply chains for North America, Nano One wants to see the successful implementation of the Inflation Reduction Act.
Nano One appreciates the opportunity to provide commentary to the Department of the Treasury, the IRS, and other U.S. agencies involved in the regulations for the Clean Vehicle Credit proposed under Section 30D Critical Minerals and Battery Component Requirements.
See attached file. Nano One Materials Response to IRA Section 30D (IRS and REG–120080–22)
https://www.regulations.gov/comment/IRS-2023-0019-0045
file:///C:/Users/contr/Downloads/IRS-2023-0019-0045_attachment_1.pdf
"To help further incentivize North American cathode solutions, Nano One recommends that guidance on section 30D disqualify vehicles from the new clean vehicle credit, if their battery cathode active materials are comprised of any raw material that is extracted, refined or processed by an FEOC, and equal to or greater than 5% of the active material, stoichiometrically (i.e. 5% cobalt in NMC 955)."
If the decision is made in favor of Nano One Materials and Quebec in the next few days and weeks, it would be like an accolade and the technology will very quickly establish itself as "THE" process technology for North America due to its clear advantages! Everyone can imagine what happens next! A clear reassessment of the share and the share price!
Stay informed!