Nano One Joint Development with Pulead Achieves Critical Milestone
December 09 2019 - 3:10AM
(TSX-V: NNO) (OTC-Nasdaq Intl Designation: NNOMF)
(Frankfurt: LBMB).
Highlights
- Raw material suppliers accepted by Pulead;
- Engineering report available for partner review in Q1 2020
Mr. Dan Blondal, CEO of Nano One Materials Corp., is pleased to
report significant progress in Nano One’s ongoing joint development
work with Pulead to develop, evaluate and optimize scaled
production of lithium iron phosphate (LFP) cathode material using
Nano One’s patented technology.
“Nano One, working with a raw material sourcing expert in China,
has identified raw material supply sources that meet both Nano
One’s performance targets and Pulead’s specifications for
impurities and cost,” said Mr. Blondal. “It is critical to cathode
manufacturers that a sustainable supply of raw materials be in
place prior to significant investment decisions on expansion and
technology adoption. Pulead has reviewed and approved key suppliers
identified by Nano One. This marks an important achievement in our
commercialization efforts and moves us closer to the joint
objective of licensing Nano One technology for the production of
LFP by Pulead."
Dr. Xinhe Yang, VP of Research and Development at Pulead
said, "We value the partnership with Nano One and are
satisfied that their process can be supported with reliable and
sustainable sources of raw materials. Our technical teams are
making good progress on commercial viability and we remain
committed to the partnership activities."
Nano One is also expected to complete an engineering report
detailing an LFP production line for review by Pulead early in
2020. It will have a level of detail necessary for licensing
discussions and will be instrumental in the calculation of a
royalty and/or profit split model for using Nano One’s technology.
The report will include process diagrams, detailed flow sheets,
equipment specifications, plant layout, capital equipment cost
estimates and return on investment economics.
Joint development work on materials testing is ongoing and in
support of this Nano One provides cathode materials made with its
proprietary process to Pulead and their customers for
evaluation.
LFP represents a tremendous near term market opportunity for
Nano One. It is the safest, lowest cost and longest lasting lithium
ion cathode material making it ideal for use in electric buses,
energy storage systems and other industrial applications.
Mr. Blondal added: “Nano One’s proprietary process has
appreciable cost advantages over traditional methods of producing
LFP and we continue our optimization efforts to make this advantage
even more compelling. Pulead produced 15,000 tons of LFP in 2018
and has ambitious growth plans based on their forecast for global
demand to reach 200,000 tons per year by 2025. This coupled with
their manufacturing and supply chain expertise make them an ideal
partner for our patented technology. We are very pleased with the
results to date and the commitment of both parties to the
process.”
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 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, including Pulead, Volkswagen and
Saint-Gobain to advance its lithium iron phosphate battery (LFP),
lithium nickel manganese cobalt (NMC) and lithium manganese nickel
(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
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/
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