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Shares in Canadian-listed battery materials technology specialist Nano One (TSX-V:NNO) were trading close to the historic high they hit yesterday at $2.70 when the stock opened today. The investor interest seems to be driven by a wider awareness of Nano One’s strong position at the centre of efforts to develop the so-called million mile electric battery for use by the global auto industry.

Nano One 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 stock is now up almost 140% since The Armchair Trader started covering it in December.

Pilot plant project successfully completed

Cash is also flowing into Nano One as the company confirmed final payment from C$1.9 million it earned from a successfully completed demonstration pilot plant project with the Automotive Suppliers Innovation Program (ASIP). This program is administered by the Canadian Strategic Innovation Fund of Innovation Science and Economic Development. The Nano One side of the project began in June 2016 and involved the research and development of four different cathode materials for lithium ion batteries for use in automotive applications.

Nano One also received final payment from the Canada Industrial Research Assistance Program, a COVID-19 wage subsidy program from the Canadian government that covered the period from 1 April to 24 June.

Warrants exercised

Shareholder support for Nano One remains steady: nearly C$300,000 in share purchase warrants were exercised between 9-17 July, the company reported. This included finders’ incentive and regular warrants in aggregate, at a weighted average price of $1.60 a share.

Nano One also confirmed that it had granted 1.14m incentive stock options with an exercise price of $2.52 to directors and officers of the company.

The Armchair Trader started covering Nano One on 3 December. At the time Nano One stock was trading at C$1.13. The stock is now up by almost 140% since then.

At the time we said we liked the fact that Nano One is well-positioned within the electric battery sector, where many auto makers are seeking reliable and cost effective in-car battery solutions that will help them to replace petrol and diesel vehicles effectively. This is reflected in its strategic partnership with Volkswagen (ETR:VOW3) but also with other interests that the company remains coy about for the time being.

Nano One confirmed on 24 June that it has developed a single crystal cathode for lithium ion batteries that could improve battery longevity by four times. The technology will be applicable to all of Nano One’s cathode materials. It is especially relevant for nickel manganese cobalt oxide.

We also interviewed Nano One CEO Dan Blondal on The Armchair Trader podcast where he provided a good overview of the company’s research efforts..

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Please note this article does not constitute investment advice. Investors are encouraged to do their own research beforehand or consult a professional advisor.

Stuart Fieldhouse

Stuart Fieldhouse

Stuart Fieldhouse has spent 25 years in journalism and marketing, including as a wealth management editor for the Financial Times group, covering capital markets and international private banking, and as an investment banking correspondent for Euromoney in Hong Kong. He was the founder editor of The Hedge Fund Journal.

Stuart has worked at CMC Markets, supporting the re-launch of its global financial spread betting and CFD trading platforms. He is also the author of two books on trading, published by Financial Times Pearson. Based in The Armchair Trader’s London office, Stuart continues to advise fund managers, private banks, family offices and other financial institutions.

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