- Nano One Materials (TSX:NANO), a top battery technology stock, is confirming orders for 1.3 tonnes of lithium-iron-phosphate (LFP) samples for multiple commercial evaluations
- Potential customers include a global automotive manufacturer, as well as additional collaborators across the automotive, ESS, defense and industrial sectors
- Nano One Materials is a clean technology company with a patented, scalable, low-cost and low-carbon process for the production of high-performance lithium-ion battery cathode materials
- Nano One stock (TSX:NANO) has added about 10 per cent year-over-year and just over 100 per cent since 2018
Nano One Materials (TSX:NANO), a top battery technology stock, is confirming orders for 1.3 tonnes of lithium-iron-phosphate (LFP) samples for multiple commercial evaluations.
Potential customers include a global automotive manufacturer, as well as additional collaborators across the automotive, ESS, defense and industrial sectors.
The LFP was produced using Nano One’s patented One-Pot process for the production of lithium-ion battery cathode materials at its facilities in Candiac, Québec, demonstrating and de-risking production in commercial scale equipment.
The One Pot process’ ability to lower the cost, complexity, energy intensity and environmental footprint of lithium-ion battery production could allow Nano One to capitalize on global electrification, with the addressable LFP market opportunity set to grow to US$48 billion by 2035, according to Benchmark Mineral Intelligence, and the electric vehicle market expected to add US$340 billion over the next five years at a CAGR of 10.07 per cent.
This double-digit growth rate will only be expedited by governmental policies designed to meet 2050 net-zero emissions goals. Canada, the latest exponent, reportedly will outline new regulations over the course of this week to reach 100 per cent net-zero emission vehicle sales by 2035.
“The samples are being provided to a global automotive manufacturer and other key collaborators, after having tested and validated smaller samples of Nano One’s LFP cathode materials,” Denis Geoffroy, Nano One’s chief commercialization officer, said in a statement. “This supports a joint vision to promote and execute locally sourced, waste-free, high performing cathodes in world-class cells. It also aligns us with Canadian and U.S. government initiatives and the underlying objectives of the Inflation Reduction Act.”
“Our team in 2023 has significantly de-risked our capacity to scale and grow with our collaborators and future customers and accelerated the timeline to tonne-scale sample evaluations,” added Dan Blondal, Nano One’s chief executive officer. “These milestones showcase Nano One’s ability to execute on its plans and help to increase shareholder value and supply chain confidence in Nano One’s technology and growth strategy.”
Nano One Materials is a clean technology company with a patented, scalable, low-cost and low-carbon process for the production of high-performance lithium-ion battery cathode materials. The company’s strategic collaborators and partners include Sumitomo Metal Mining, BASF, Umicore and Rio Tinto.
Nano One stock (TSX:NANO) is up by 8.30 per cent trading at C$2.61 per share as of 10:04 am ET. The stock has added about 10 per cent year-over-year and just over 100 per cent since 2018.
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