(TSX-V: NNO) (OTC-Nasdaq Intl
Designation: NNOMF) (Frankfurt: LBMB).
Mr. Dan Blondal, CEO of Nano One Materials Corp., is pleased to
announce today that Nano One has received a combined sum of
$1,181,944 from Sustainable Development Technology Canada (“SDTC”).
This amount represents the final payment for Nano One's
Demonstration Pilot Plant Project and initial payment toward the
recently launched Scaling Advanced Battery Materials project.
The Demonstration Pilot Plant Project, launched in July 2016,
was completed in March of this year. Nano One has successfully
delivered on all commitments and reporting requirements related to
this project and SDTC has released the 10% holdback portion of
their contribution totaling $208,130.
As reported on May 31 2019, Nano One has been approved for an
additional $5 million from SDTC to support Nano One’s Scaling
Advanced Battery Materials project. Nano One and SDTC have recently
executed a Project Funding Agreement resulting in Nano One’s
receipt of an initial contribution of $973,814.
"This is a new round of support from SDTC and it extends and
leverages the success Nano One achieved during our demonstration
pilot project” explained Mr. Blondal. “The first contribution is
almost a million dollars, it strengthens our financial
position and it is the first of five such installments from SDTC
over the next three years. The goals are to expand our laboratory,
pilot plant and staffing to support the advancement of next
generation lithium ion battery cathode materials, used in electric
vehicles and renewable energy storage.”
The new round of funds will support activities on various
cathode materials initiatives with consortium partners Volkswagen,
Pulead Technology and Saint-Gobain. This includes detailed supply
chain validation, process optimization and plant design for the
full scale production of Lithium Iron Phosphate (LFP). In parallel,
Nano One aims to demonstrate improved durability and production of
high energy density lithium nickel manganese cobalt oxides (NMC)
through its joint development activities.
The SDTC funding proceeds are non-dilutive, non-repayable and
will be awarded in five installments and dispersed at the beginning
of four sequential project phases with a 10% holdback awarded upon
completion of the project. .
Mr. Blondal added, “SDTC is globally recognized for funding
clean technology projects at the piloting stage and we are proud to
be a recipient of their support. It validates our unique approach
and provides valuable leverage to investors and our strategic
partners. We look forward to advancing both LFP and NMC materials
through this project and sharing news as it progresses.”
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 Saint-Gobain
Saint-Gobain designs, manufactures and distributes materials and
solutions which are key ingredients in the wellbeing of each of us
and the future of all. They can be found everywhere in our living
places and our daily life: in buildings, transportation,
infrastructure and in many industrial applications. They provide
comfort, performance and safety while addressing the challenges of
sustainable construction, resource efficiency and climate change.
Saint-Gobain operates in 67 countries and has more than 180,000
employees. To learn more about Saint Gobain go to
www.saint-gobain.com and follow on Twitter @saintgobain
About Volkswagen
The Volkswagen Group with its headquarters in Wolfsburg is one
of the world’s leading automobile manufacturers and the largest
carmaker in Europe. The Group comprises twelve brands from seven
European countries: Volkswagen Passenger Cars, Audi, SEAT, ŠKODA,
Bentley, Bugatti, Lamborghini, Porsche, Ducati, Volkswagen
Commercial Vehicles, Scania and MAN. Each brand has its own
character and operates as an independent entity on the market. The
product spectrum ranges from motorcycles to small cars and
luxury vehicles. In the commercial vehicle sector, the products
include ranges from pick-ups, buses and heavy trucks. The Group
operates 120 production plants in 20 European countries and a
further 11 countries in the Americas, Asia and Africa. Every
weekday, around 642,292 employees worldwide produce nearly 44,170
vehicles, and work in vehicle-related services or other fields of
business. The Volkswagen Group sells its vehicles in 153 countries.
With its “TOGETHER – Strategy 2025" future program, the Volkswagen
Group is paving the way for the biggest change process in its
history: the realignment of one of the best carmakers to become a
globally leading provider of sustainable mobility.
www.volkswagenag.com.
About SDTC
SDTC is a flagship program, and our funding of Canadian
entrepreneurs has created jobs, growth, and long-term prosperity
for Canada. SDTC is a lean organization with a big impact. Since
its inception, SDTC has invested over $1 billion in more than 300
companies, creating 12,000 jobs. Our companies have reduced
greenhouse gas emissions by an estimated 13.8 megatonnes annually.
SDTC’s efforts have been focused on small- and medium-sized
enterprises, recognizing that this is where we can make the biggest
impact. Our funding gives companies the critical boost they need to
advance their projects in the challenging stages of pre-commercial
development and demonstration. For more information, please
visit sdtc.ca
About Nano One
Nano One Materials Corp (“Nano One” or “the Company”) has
developed patented technology and pilot scale demonstration 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 the Strategic
Innovation Fund. Nano One also receives financial support from the
National Research Council of Canada Industrial Research Assistance
Program (NRC-IRAP). 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
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