VANCOUVER, British Columbia, Aug. 10, 2020 (GLOBE NEWSWIRE) -- (TSX-V: NNO) (OTC-Nasdaq Intl Designation: NNOMF) (Frankfurt: LBMB). Mr. Dan Blondal, CEO of Nano One, is pleased to announce that Nano One has entered into a Joint Development Agreement (JDA) with a multi-billion-dollar Asian cathode material producer. This producer, based outside of China, wishes to remain unnamed at present due to the highly competitive state of the lithium ion battery supply chain. The JDA completely aligns with Nano One’s mission of developing, demonstrating, and licensing of its high-performance lithium ion battery cathode material technology.
“We are thrilled to be working with a highly respected cathode producer who shares Nano One’s vision to develop and launch a disruptive cathode business,” said Mr. Blondal. “This is a defining moment in our evolution and an important milestone in the advancement of our business.”
Under this JDA, the parties will jointly develop and evaluate cathode materials made with combined technologies, including Nano One's patented One-Pot process for the production of high-performance coated single crystal cathode powders. The JDA also provides a framework to develop a business plan for the commercialization of these jointly developed materials. The potential outcomes of the JDA include formation of a joint venture, licensing of Nano One's technology and or further joint development work.
Nano One has developed, patented and scaled-up innovative processes that produce cathode active materials (CAM) for lithium-ion battery applications in electric vehicles, energy storage and consumer electronics. The processes are engineered with a low carbon footprint to form protective coatings on individual crystals that improve durability and add value while reducing process steps and cost.
Mr. Blondal added, "We have assembled a valuable portfolio of cathode technologies and our business strategy is designed for opportunities such as this. We are excited to be working with a global leader in innovation and materials manufacturing who share our vision and we look forward to advancing this partnership and expanding our business opportunities."
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 partnered with global leaders in the lithium ion battery supply chain 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), the Automotive Supplier Innovation Program (ASIP) a program of Innovation, Science and Economic Development Canada (ISED), and the Province of British Columbia through the Ministry of Energy, Mines and Petroleum Resources. 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 Company’s plans. 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 projections for the global demand for LFP. 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