Nano One Ramps up Efforts on its Innovative Lithium Iron Phosphate Technology
September 20 2018 - 4:03AM
(TSX-V: NNO) (OTC-Nasdaq Intl
Designation: NNOMF) (Frankfurt: LBMB).
Dan Blondal, CEO of Nano One Materials, is pleased
to announce that its Lithium Iron Phosphate (LFP) cathode material,
and the cost of making it, are outperforming global benchmarks and
could be a disruptive force in the lithium ion battery market
space.
“Major cathode producers have begun evaluating our LFP and
initial results are consistent with the excellent battery
performance we’ve been measuring in our lab,” said Mr. Blondal.
“The preliminary economic modeling is also very compelling with LFP
production costs conservatively estimated at 10 to 30% below
industry standards.”
The global LFP market size is projected to be 130,000 tonnes in
2025 and worth about $1.5B. To address this opportunity, Nano One
has developed a proprietary process, using lithium carbonate, that
enables lower cost sources of iron and phosphate than those used
presently by LFP producers. Economic modeling of this innovative
process, based on adding production line capacity in units of
10,000 tonnes per annum, delivers capital and operating projections
well below current industry costs. This leads to a sizable revenue
opportunity that Nano One is evaluating with commercial interests
in the lithium ion battery and cathode material space.
LFP is the cobalt-free, high durability, low cost, and safest
cathode material of choice for lithium ion batteries. It is used in
e-buses, e-bikes, power tools and grid storage systems for
renewable energy. As costs come down, LFP may also replace lead
acid batteries, further increasing demand.
LFP is currently produced through either hydrothermal or
solid-state methods. The hydrothermal method produces high quality
LFP but is costly due to high pressure and high temperature aqueous
reactions and a waste lithium salt stream that must be recovered.
The solid-state method, by comparison, is lower cost with lower
quality LFP, produced by grinding, milling and firing in controlled
atmospheres. Both of these methods require powders of LFP to be
carbon coated in a series of post-production steps. In contrast to
these production methods, Nano One has developed a simpler process
that produces high performance carbon coated LFP particles from an
aqueous solution operating at atmospheric temperature, pressure and
mild pH. It uses low cost raw materials, with fewer steps and does
not produce a waste stream.
Nano One Chairman, Paul Matysek added, “There is a
compelling business case with our LFP technology, it is ripe for
partnership on full scale production, and this adds to other
opportunities Nano One is pursuing to jointly develop solid state
batteries and low-cobalt chemistries.”
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)
420-2041 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 has built a pilot plant to demonstrate
high volume production and to optimize its technology across a
range of materials. The pilot plant is being funded with the
assistance and support of the Government of Canada through
Sustainable Development Technology Canada (SDTC) and the Automotive
Supplier Innovation Program (ASIP) a program of Innovation, Science
and Economic Development Canada ISED). 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
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