Nano One Receives $760,145 Milestone Payment from SDTC
June 19 2018 - 4:03AM
(TSX-V:NNO) (OTC:NNOMF) (Frankfurt:LBMB). Dan Blondal, CEO of Nano
One Materials, is pleased to announce that Nano One has met
its objectives on pilot plant optimization and received a milestone
payment of $760,145 from Sustainable Development Technology Canada
(SDTC).
“This is the third of four installments from
SDTC,” said Mr. Blondal, “released to Nano One after delivering on
its commitments. SDTC has a comprehensive review process and this
confirms Nano One’s ability to execute on its plans to date. The
funds are an advance on the work currently underway to validate
Nano One’s technology with third party commercial interests.”
To date, the Government of Canada has
contributed over $3.2 million in non-dilutive support to Nano One’s
pilot plant project through SDTC and the Automotive Supplier’s
Innovation Program (ASIP). Nano One has also received support from
the National Research Council of Canada Industrial Research
Assistance Program (NRC-IRAP) on related projects.
Mr. Blondal said, “Nano One has optimized and
demonstrated the production of pilot scale volumes of various
lithium nickel manganese and cobalt based cathode materials as well
as its cobalt free high voltage spinel and lithium iron phosphate.
SDTC, ASIP and the Government of Canada are providing crucial
support and Nano One remains committed to the commercialization of
its manufacturing technology for the production of next generation
lithium ion battery cathode materials.”
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
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 Aug 2024 to Sep 2024
Nano One Materials (TSXV:NNO)
Historical Stock Chart
From Sep 2023 to Sep 2024