Vancouver, British Columbia--(Newsfile Corp. - May 8, 2017) - Dan Blondal, CEO of Nano One Materials, (TSXV: NNO) (FSE: LBMB) (OTC Pink: NNOMF) today announced that the construction of its pilot plant is now complete, commissioning of equipment began in April and demonstration of its patented technology is underway. Mr. Blondal also confirmed that Nano One has begun receiving contribution payments for its pilot project from the Automotive Supplier's Innovation Program (ASIP) of Innovation, Science and Economic Development Canada (ISED).
Mr. Robin Sweeny, Nano One's pilot plant project manager, said, "All of the pilot components are now installed, interconnected, and instrumented. Circuits have been energized and the water batching process and testing of motors is now underway. The pilot will showcase Nano One's patented technology, simulate full scale production of cathode materials for the electric vehicle market, and initiate commercial scale-up opportunities with strategic interests. Nano One's process also enables a wider range of lithium raw material sources which is drawing attention from the battery supply chain."
The total ASIP contribution will be up to $1.9 million and complements that from Sustainable Development Technology Canada (SDTC) up to $2.1M. These contributions support the design, construction and operation of the pilot plant, are non dilutive and non-repayable, and will be disbursed over the duration of the project.
Nano One's patented process uses equipment common to industry and is designed with flexibility to demonstrate a variety of processing concepts and chemistries. This flexibility enables Nano One to adapt to market needs and produce a range of cathode materials, including lithium nickel-rich manganese cobalt oxide, high voltage spinel and lithium iron phosphate. The innovations lie in a simple water based process that enables a wider range of raw material inputs, eliminates manufacturing steps and provides high purity high performance materials. Nano One has been granted three patents covering process, materials and batteries and is actively developing other novel technologies to bolster its portfolio of intellectual property.
Nano One has designed and constructed the pilot in collaboration with NORAM Engineering and its subsidiary BC Research. "Completing the pilot plant construction is a critical step towards commercial success and we would like to thank our team, collaborators and supporters," added Mr. Blondal. "This continues to derisk our technology which we believe will lead to increased shareholder value. We are on budget, well positioned and looking forward to demonstrating our technology to stakeholders in the lithium ion battery market."
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) 669-2701 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 is building a pilot plant to demonstrate high volume production. The pilot plant is being funded with the assistance and support of Sustainable Development Technology Canada (SDTC) and the Automotive Supplier Innovation Program. 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
About Automotive Supplier Innovation Program
The Automotive Supplier Innovation Program ("ASIP") was created as part of the Canadian Federal Government's Economic Action Plan 2015. The program is providing up to $100 million over five years (2015-2020) to encourage Canadian automotive suppliers to develop new innovative products and processes that will make Canada more competitive on a global scale. The program will help research and development projects to become commercially viable by supporting product development and technology demonstration on a cost-shared basis with participating firms. For more information, please visit http://www.ic.gc.ca/eic/site/auto-auto.nsf/eng/h_am02377.html
About NORAM and BC Research
NORAM Engineering and Constructors Ltd. and their subsidiary, BC Research Inc., supply proprietary engineering and equipment packages to the chemical, pulp and paper, minerals processing and electrochemical sectors. They are recognized worldwide as a leader in the fields of nitration, sulfuric acid and electrochemistry. In addition to carrying out large assignments for major multi-national clients, NORAM and BC Research work with early-stage technology companies. They provide engineering design and fabrication support, sharing their experience in technology commercialization, and growing with companies as a strategic partner.
Certain information contained herein may constitute "forward-looking information" under Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the actual receipt of the grant monies, the execution of the Company's plans which are contingent on the receipt of such 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 completion of final documentation with SDTC 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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