Global Automotive Company Issues Purchase Order to Nano One
June 20 2019 - 4:02AM
(TSX-V: NNO) (OTC-Nasdaq Intl
Designation: NNOMF) (Frankfurt: LBMB).
Nano One’s CEO, Mr. Dan Blondal, is pleased to announce that Nano
One has entered into an agreement and has received a purchase order
in the amount of CDN$550,000 from a Global OEM (Original Equipment
Manufacturer) to jointly evaluate processes and innovative cathode
materials for high energy density lithium ion batteries in
automotive applications.
“The goal of this collaboration is to improve
the stability and durability of nickel rich cathode materials for
electric vehicle applications,” said Ms. Hamutal Ben Bassat, Nano
One’s VP of Business Development. “This agreement formalizes
efforts that began in 2018 and aligns Nano One with a major
automotive strategic to identify and commercialize a new generation
of lithium ion cathodes and batteries. Project details and
commercial terms are confidential.”
Within the project, materials made with Nano
One’s proprietary processes will be evaluated under automotive
testing conditions with the goal of identifying the most promising
processes and material formulations, and exploring future
opportunities to advance these technologies through to
commercialization.
“Our project partner is a global leader in
innovation and commercialization of cutting edge technologies,”
said Mr. Blondal. “We are very excited to be working with a company
in the forefront of the electric vehicle revolution. Their
knowledge in the field and application of innovative battery
materials is complementary to our processing technology and scale
up expertise. We continue to execute on our business plan and this
project adds to our current efforts with other strategic interests
in the lithium ion battery supply chain.”
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”) 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 enables lower cost
feedstocks, simplifies production and advances performance for a
wide range of cathode materials. Nano One has built a demonstration
pilot plant and is partnering with global leaders in the lithium
ion battery supply chain, to advance its NMC, LFP and LMN cathode
technologies for large growth opportunities in e-mobility and
renewable energy storage applications.
Nano One’s pilot and partnership activities are
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 which are
contingent on the receipt of grant 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 ability of the
Company to obtain additional financing; including the receipt of
grant monies from SDTC, ASIP, NRC-IRAP 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.
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
Nano One Materials (TSXV:NNO)
Historical Stock Chart
From Mar 2024 to Apr 2024
Nano One Materials (TSXV:NNO)
Historical Stock Chart
From Apr 2023 to Apr 2024