Nano One Awarded $1.9M In Additional Support From Canadian Government
December 05 2016 - 4:02AM
Nano One Materials Corp. (TSX-V:NNO)
(Frankfurt:LBMB) (OTCBB:NNOMF)
announced
today that it has been awarded up to $1.9 million from Innovation,
Science and Economic Development Canada (ISED). The investment is
being made available through Automotive Supplier’s Innovation
Program (ASIP) and will support the development of battery material
production technology in Nano One’s Pilot Plant.
Nano One CEO Dan Blondal says that, “These funds
are non-dilutive and non-repayable and add to funds previously
announced. The support leverages existing plans to build and
operate our Demonstration Pilot Plant. We remain on target to have
the pilot built early in 2017 and our approach is already drawing
the attention of multinational lithium ion battery stakeholders in
the automotive supply chain. The funding selection process is
competitive with extensive due diligence and we are honoured to
have gained the confidence of ASIP and ISED. We look forward to
their valuable support.”
The announcement was made at Nano One’s facility
in Burnaby, British Columbia by Jonathan Wilkinson, Parliamentary
Secretary to the Minister of Environment and Climate Change, on
behalf of the Honourable Navdeep Bains, Minister of Innovation,
Science and Economic Development. Mr. Wilkinson said, “Through
the Automotive Supplier Innovation Program, the Government of
Canada recognizes that suppliers are an integral part of our
automotive footprint and success. We are proud to support
Nano One in developing green technologies that will shape the
future of the industry. These technologies will help create
quality jobs and support Canada’s middle class.”
The proceeds will help support the design,
construction and operation of Nano One’s Pilot Plant and will be
disbursed over the duration of the pilot project as expenses are
incurred. The pilot will be used to showcase Nano One’s patented
technology and simulate full scale production of lithium ion
cathode materials that are critical to the electric vehicle
market.
The pilot uses equipment common to industry and
is designed with flexibility to demonstrate a variety of processing
concepts and chemistries. This enables Nano One to adapt to market
needs and produce a range of cathode materials, including lithium
nickel manganese cobalt oxide, high voltage spinel and lithium iron
phosphate. The innovations lie in a simple aqueous process that
enables a wider range of raw material inputs, eliminates
manufacturing steps and provides high purity high performance
materials. Nano One has been granted 3 patents covering process,
materials and batteries and is actively developing other novel
technologies to bolster its portfolio of intellectual property.
To view an enhanced version of this image [NNO
awarded $1.9M from Innovation, Science and Economic Development
Canada (ISED), available through Automotive Supplier’s Innovation
Program (ASIP)], please visit:
https://orders.newsfilecorp.com/files/3606/23900_nno%20057.jpg
Nano One Materials Corp.
Dan Blondal, CEO
For information with respect to Nano One or the
contents of this news release, please contact John Lando
(President) at (604) 669-2701 or visit the website
at www.nanoone.ca.
About Nano One
Nano One Materials Corp (“Nano One” or “the
Company”) is developing novel and scalable processing technology
for the low-cost production of high performance battery materials
used in electric vehicles, energy storage and consumer electronics.
The patented technology can be configured for a wide range of
nanostructured materials and has the flexibility to shift with
emerging and future battery market trends and a diverse range of
other growth opportunities. The novel three-stage process uses
equipment common to industry and is being engineered for high
volume production and rapid commercialization. Nano One’s mission
is to establish its patented technology as a leading platform for
the global production of a new generation of nanostructured
composite materials. For more information, please visit
www.nanoone.ca
About Automotive Supplier Innovation
Program
The Automotive Supplier Innovation Program
(“ASIP”) was created as part of the Canadian Federal Government’s
Economic Action Plan 2015. The program is providing up to $100
million over five years (2015-2020) to encourage Canadian
automotive suppliers to develop new innovative products and
processes that will make Canada more competitive on a global scale.
The program will help research and development projects to become
commercially viable by supporting product development and
technology demonstration on a cost-shared basis with participating
firms. For more information, please visit
http://www.ic.gc.ca/eic/site/auto-auto.nsf/eng/h_am02377.html
Certain information contained herein may
constitute “forward-looking information” under Canadian securities
legislation. Forward-looking information includes, but is not
limited to, statements with respect to the actual receipt of the
grant monies, the execution of the Company’s plans which are
contingent on the receipt of such monies and the commercialization
of the Company’s technology and patents. Generally, forward-looking
information can be identified by the use of forward-looking
terminology such as 'believe', 'expect', 'anticipate', 'plan',
'intend', 'continue', 'estimate', 'may', 'will', 'should',
'ongoing', or variations of such words and phrases or statements
that certain actions, events or results “will” occur.
Forward-looking statements are based on the opinions and estimates
of management as of the date such statements are made and they are
subject to known and unknown risks, uncertainties and other factors
that may cause the actual results, level of activity, performance
or achievements of the Company to be materially different from
those expressed or implied by such forward-looking statements or
forward-looking information, including: the completion of final
documentation with SDTC and the receipt of all necessary regulatory
approvals. Although management of the Company has attempted to
identify important factors that could cause actual results to
differ materially from those contained in forward-looking
statements or forward-looking information, there may be other
factors that cause results not to be as anticipated, estimated or
intended. There can be no assurance that such statements will prove
to be accurate, as actual results and future events could differ
materially from those anticipated in such statements. Accordingly,
readers should not place undue reliance on forward-looking
statements and forward-looking information. The Company does not
undertake to update any forward-looking statements or
forward-looking information that is incorporated by reference
herein, except as required by applicable securities laws.
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