- Nano One Materials has begun a feasibility study for its first commercial lithium iron phosphate plant
- The Vancouver-based clean technology company’s feasibility study has been initiated for a 25,000 tonne per annum LFP plant to support securing customer offtake, feedstock supply and future project funding
- Progress at its Candiac pilot plant has helped the company de-risk, improve and optimize its One-Pot process for LFP in commercial scale equipment
- Nano One Materials stock opened trading at C$1.70 per share
Nano One Materials (TSX:NANO) has begun a feasibility study for its first commercial lithium iron phosphate (LFP) plant.
The Vancouver-based clean technology company’s feasibility study has been initiated for a 25,000 tonne per annum (tpa) LFP plant to support securing customer offtake, feedstock supply and future project funding.
Progress at its Candiac pilot plant has helped the company de-risk, improve and optimize its One-Pot process for LFP in commercial scale equipment.
The company’s “design-once-build-many” growth strategy intends to strengthen licensing and joint venture plans.
“Nano One is pleased to announce it has commenced a feasibility study for its first commercial plant,” Alex Holmes, the company’s chief operating officer said in a statement.” This plant design will also form the basis for our turn-key design-once-build-many strategy to address the broader LFP market. The study will provide us with an optimal production line layout and maximum utility of key equipment. Furthermore, this study will examine a ready to duplicate design to address our mid-to-longer-term objective of deploying multi-line facilities under license or joint venture with partners in Asian, Indo-Pacific, North American and European jurisdictions.”
Through a competitive bidding process, Nano One chose the consulting engineering services of BBA to conduct an FEL 3 that will optimize plant layout, further refine capital and operating costs and project timelines for construction.
“Our confidence in working with the BBA team is built on a strong foundation based on the involvement of key members of the team in the engineering, design and construction of the Candiac plant over a decade ago when I was the general manager,” Denis Geoffroy, Nano One’s chief commercialization officer, added. “More recently, BBA was also involved in the design and engineering of our 200 tpa LFP pilot line which was successfully built and commissioned in Q3 2023. BBA brings a deep expertise in mining, metals, energy, chemicals, power and renewables. We are pleased to (be) building on their experience while adding nearly 20 years of our own in technology scaling, commercialization and production.”
Nano One is considering sites in multiple jurisdictions as it looks beyond the first plant to enable expansion opportunities under its hybrid business model. The team is planning to file a base shelf prospectus as a prudent step in the normal course of business.
According to Precedence Research, the global lithium iron phosphate battery market was valued at US$12.7 billion in 2022 and will surpass US$54.36 billion by 2032 thanks to the compound’s applications in electric vehicles, energy storage and consumer electronics.
Nano One Materials Corp. is a clean technology company with a patented, scalable and low-carbon intensity industrial process for the low-cost production of high-performance lithium-ion battery cathode materials. The company boasts partnerships with the likes of BASF, Umicore and Rio Tinto.
Nano One Materials stock opened trading more than 3.50 per cent higher at C$1.70 per share. Though down 58.25 per cent in the past year, the stock has added 14.08 per cent over the past five years.
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