Battery Durability Improvements Strengthens Global Interest in Nano One
Vancouver, British Columbia--(Newsfile Corp. - January 16, 2020) - In summary, Nano One's (TSXV: NNO) (OTC PINK: NNOMF) (FSE: LBMB) coated nanocrystal innovations:
- Increase battery durability,
- Reduce cobalt in batteries,
- Apply to NMC, LNMO and LFP, and
- Strengthen global auto interests.
Nano One's patented coated nanocrystal innovation provides improvements to the durability and cost of lithium ion battery cathode materials, and is adding to the opportunities with global automotive manufacturers and suppliers. This interest originates from Nano One's news release of August 21, 2019, outlining the ability to form protective coatings on individual crystals with the potential to increase the durability of lithium ion batteries. An unrelated publication from Tesla's research team, released shortly thereafter, demonstrated the possibility of million mile batteries using single-crystal cathode materials with advanced electrolyte.
"Tesla's research provides evidence that batteries made with single crystal cathodes can last an order of magnitude longer than conventional composite cathode structures in battery cycle testing," says Nano One CEO, Dan Blondal. "These results help to substantiate Nano One's technology advantage and have spawned a great deal of interest in our coated nanocrystal innovation which produces our patented single crystal cathode powders. This has generated a measurable increase in strategic level discussions and forms the basis of current relationships with several automotive players and chemical companies. We are working hard to add these developing relationships to our existing list of joint development partnerships."
Nano One's coated nanocrystal innovation is described in a 90 second animation and addresses a fundamental battery tradeoff between energy density and durability. Increased durability would provide electric vehicle manufacturers greater flexibility in optimizing range, charging rates, safety and cost. Increased durability also enables the reduction of cobalt in batteries to address cost, supply, and ethical issues.
Each of Nano One's cathode technologies - lithium iron phosphate (LFP); nickel manganese cobalt oxide (NMC); and high voltage spinel (HVS or LNMO) - form coated nanocrystals with a range of benefits and applications.
Mr. Blondal added: "The automotive industry is increasingly committed to an electric vehicle transition, and Nano One is well positioned with its coated nanocrystal innovation to leverage the need for increased durability, stability and energy density."
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 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 (LFP), lithium nickel manganese cobalt oxide (NMC) and lithium nickel manganese oxide (LNM) 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 plans of Nano One Materials Corp ("the Company") 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.
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