Battery materials specialist Nano One (TSX-V:NNO) has entered into a Joint Development Agreement (JDA) with a multi-billion-dollar Asian cathode material producer, the company confirmed today. 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 Nano One CEO Dan 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.
Possible joint venture and technology licensing
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.
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 shares our vision and we look forward to advancing this partnership and expanding our business opportunities.”
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.
Canadian government funding
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.