(TSX-V: NNO) (OTC-Nasdaq Intl
Designation: NNOMF) (Frankfurt: LBMB).
The CEO of Nano One Materials Corp., Mr. Dan Blondal, is pleased to
announce that Nano One has entered into a Joint Development
Agreement with Pulead Technology Industry.
This is Nano One’s second Joint Development Agreement and the
objective is to develop, evaluate and optimize scaled up production
of Pulead’s lithium iron phosphate (LFP) cathode materials using
Nano One’s technology, for use in lithium ion batteries. Licensing
and commercialization opportunities will also be explored as part
of the collaboration.
“Pulead is a highly respected cathode producer with a track
record of partnering with international providers of intellectual
property,” said Mr. Blondal. “By working together, we aim to
improve the cost and performance of LFP materials and to expand its
use in industrial batteries, e-buses and electric vehicles. This
agreement formalizes an important strategic relationship between
Nano One and Pulead that began last year with visits, battery
testing and economic evaluation. This marks a key milestone in the
execution of Nano One’s business plan.”
LFP is the safest and lowest cost cathode material for lithium
ion batteries because it is highly durable and does not contain
supply constrained cobalt or nickel. A number of leading battery
analysts1 believe that LFP market share will remain significant and
that demand for LFP will continue to grow in 2020 and beyond, as
incentives programs evolve and safety becomes increasingly
important. Furthermore, cost reductions could significantly
increase the demand for LFP as it becomes a cathode of choice for
ESS (energy storage systems), as it replaces lead-acid batteries
and as it expands its foothold in the electrification of
transportation.
Over the last two years, Nano One’s scientific team has
developed an innovative process that simplifies the production of
high performance carbon coated LFP. Most importantly, this
technology improves operating and capital expenses by using lower
cost raw material inputs with fewer process steps and by avoiding
costly waste streams. The patent pending technology uses an aqueous
process operating at room temperature, ambient pressure and mild
pH.
Driven by lower costs, higher performance and emerging markets,
the global demand for LFP is projected to grow from 100,000 metric
tonnes in 2017 to 130,000 tonnes in 2020 and over 200,000 tonnes in
20251. The collaboration between Pulead and Nano One has the
potential to provide the parties with increased margins and a
scalable manufacturing platform to address the anticipated market
growth in LFP.
“Pulead is excited to be working with Nano One and we are very
encouraged by their ground-breaking innovations and capabilities,”
said Dr. Yuan Gao, CEO of Pulead. “We look forward to fostering a
profitable, long lasting and collaborative working
relationship.”
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 Pulead
Established in 1999 by Oriental Investment Co. Ltd and Peking
University, Pulead Technology Industry is one of China’s leading
Li-ion battery cathode producers. Together with its strategically
positioned subsidiaries and JVs in cathodes and separators as well
as in upstream lithium resources and downstream large format
battery packs, Pulead is becoming a key player in the Li-ion
battery supply
chain. www.pulead.com.cn/en/
About Nano One
Nano One Materials Corp (“Nano One” or “the Company”) has
developed patented technology for the low-cost production of high
performance lithium ion battery cathode 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 the full range of
cathode materials and has the flexibility to shift with emerging
and future battery market trends.
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 battery materials.
www.nanoone.ca
Certain information contained herein may constitute
“forward-looking information” under Canadian securities
legislation. Forward-looking information includes, but is not
limited to, the execution of the Company’s plans. 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 projections
for the global demand for LFP. 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.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS
REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE
POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR
THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE
1 K. Berman, J. Dziuba, C. Hamilton, J. Jackson, R. Carlson, P.
Sklar, “The Lithium Ion Battery and the EV
Market”, Toronto February 2018K. Berman, C. Hamilton, J.
Jackson, R. Carlson, “Next Generation Cathode
Technologies”, BMO Capital Markets, Toronto October 2018C.
Pillot, “The Rechargeable Battery Market and Main Trends
2017-2025”, Avicenne Energy, AABC San Diego June 2018T.
Hoff, S. Ding, V. Leung, S. Hoon Han, C. Kim, C. Terry,
“Notes from the road: Jostling for position in the EV
supply chain”, Deutsche Bank Research, Sydney October
2018
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