Nano One Materials Corp TSX:NANO, the Canadian-listed process technology company which specialises in lithium-ion battery cathode active materials, has confirmed it has received C$12.75 million in non-dilutive cash contributions from various government funding programs, mostly as reimbursement for recent eligible project expenditures.
“These funds strengthen our balance sheet,“ said Nano One’s CEO and Founder, Dan Blondal, “and enable us to fully execute on our capacity expansion, production and licensing plans through 2025 and further.”
Nano One is changing how the world makes cathode active materials for lithium-ion batteries. Applications include stationary energy storage systems (ESS), portable electronics, and electric vehicles (EVs). The company’s patented One-Pot process reduces costs, is easier-to permit, lowers energy intensity, environmental footprint, and reliance on problematic supply chains.
Strategic importance of the One-Pot process
Blondal said Nano One is drawing down from approximately C$45 million in government awards previously announced with some contributions retroactive as far back as January 1, 2023. This reflects the strategic importance of the company’s One-Pot process for energy and supply chain security, adds considerable shareholder value and supports commercialization and the fulfillment of our corporate objectives.
The awards are illustrative of the level of importance attached to the company’s proprietary technology by provincial and government-level agencies in Canada.
- SLB Capturi aims to clean up Europe’s polluting industry
- Blue Orca backs DN Auto’s machine tools IPO
- Nano One continuing to benefit from Canadian government funding
These programs support Nano One’s engineering, capacity expansion, demonstration, and commercialization at its LFP plant in Candiac, Québec. The $12.75 million from governments along with the previously announced sale of vacant land and sale and lease back have provided combined working capital totalling $31.25m.
The proceeds also fund continued activities on engineering feasibility for Nano One’s design-one-build-many licensing growth strategy.
Nano One also has approximately $29 million in reimbursements remaining to claim over the coming two years from its contracted government programs and continues to collaborate with governments on new programs.
Changes to technology leadership at Nano One
Nano One also recently announced changes to its technology leadership. After nearly a decade of guiding Nano One’s technological growth, Dr. Stephen Campbell is set to retire as Chief Technology Officer (CTO) at the end of June and shift in July to a part-time role managing the company’s portfolio of intellectual property (IP). He will continue to work with board member, patent agent, IP specialist and domain knowledge expert Dr. Joseph Guy, on patent applications and prosecutions to ensure that the company’s technology and its inventive processes are protected and leveraged as it scales.
Dr. Campbell will transition the day-to-day R&D leadership to Dr. Guoxian Liang, who has a long history with Nano One’s team in Québec, joined Nano One Burnaby part-time in spring 2024, and transitioned to full-time as Senior VP of Technology on March 3, 2025. Dr. Liang will lead R&D, technology, process innovation and readiness for commercialization.
