Nano One Completes Construction of its Pilot Plant
May 08 2017 - 9:32AM
Dan Blondal, CEO of Nano One Materials (TSX-V:NNO) (Frankfurt:LBMB)
(OTC:NNOMF), today announced that the construction of its pilot
plant is now complete, commissioning of equipment began in April
and demonstration of its patented technology is underway. Mr.
Blondal also confirmed that Nano One has begun receiving
contribution payments for its pilot project from the Automotive
Supplier’s Innovation Program (ASIP) of Innovation, Science and
Economic Development Canada (ISED).
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Mr. Robin Sweeny, Nano One’s pilot plant project
manager, said “All of the pilot components are now installed,
interconnected, and instrumented. Circuits have been energized and
the water batching process and testing of motors is now underway.
The pilot will showcase Nano One’s patented technology, simulate
full scale production of cathode materials for the electric vehicle
market, and initiate commercial scale-up opportunities with
strategic interests. Nano One’s process also enables a wider range
of lithium raw material sources which is drawing attention from the
battery supply chain.”
The total ASIP contribution will be up to $1.9
million and complements that from Sustainable Development
Technology Canada (SDTC) up to $2.1M. These contributions support
the design, construction and operation of the pilot plant, are
non-dilutive and non-repayable, and will be disbursed over the
duration of the project.
Nano One’s patented process uses equipment
common to industry and is designed with flexibility to demonstrate
a variety of processing concepts and chemistries. This flexibility
enables Nano One to adapt to market needs and produce a range of
cathode materials, including lithium nickel-rich manganese cobalt
oxide, high voltage spinel and lithium iron phosphate. The
innovations lie in a simple water based 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 three patents covering process, materials and
batteries and is actively developing other novel technologies to
bolster its portfolio of intellectual property.
Nano One has designed and constructed the pilot
in collaboration with NORAM Engineering and its subsidiary BC
Research. “Completing the pilot plant construction is a critical
step towards commercial success and we would like to thank our
team, collaborators and supporters,” added Mr. Blondal. “This
continues to derisk our technology which we believe will lead to
increased shareholder value. We are on budget, well positioned and
looking forward to demonstrating our technology to stakeholders in
the lithium ion battery market.”
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 patented technology for the low-cost
production of high performance battery materials used in electric
vehicles, energy storage and consumer electronics. The processing
technology addresses fundamental supply chain constraints by
enabling wider raw materials specifications for use in lithium ion
batteries. The process can be configured for a range of different
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 Nano One is building a pilot plant
to demonstrate high volume production. The pilot plant is being
funded with the assistance and support of Sustainable Development
Technology Canada (SDTC) and the Automotive Supplier Innovation
Program. Nano One also receives financial support from the National
Research Council of Canada Industrial Research Assistance Program
(NRC-IRAP). 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
About NORAM and BC Research
NORAM Engineering and Constructors Ltd. and
their subsidiary, BC Research Inc., supply proprietary engineering
and equipment packages to the chemical, pulp and paper, minerals
processing and electrochemical sectors. They are recognized
worldwide as a leader in the fields of nitration, sulfuric acid and
electrochemistry. In addition to carrying out large assignments for
major multi-national clients, NORAM and BC Research work with
early-stage technology companies. They provide engineering design
and fabrication support, sharing their experience in technology
commercialization, and growing with companies as a strategic
partner.
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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