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More patents granted for Nano One and its battery materials processes

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Clean technology company Nano One [TSX:NANO] [OTC:NNOMF] [Frankfurt:LBMB] has secured three more patents which have been issued and allowed in Taiwan, Korea and the US.

The Vancouver-based company focuses on cathode materials used in lithium-ion batteries, which in turn can be used in electric cars, energy storage, and consumer electronics. It uses the trademark One-Pot process to build local and resilient supply chains that reduce costs, cut down the use of energy and lower the carbon footprint of battery materials production.

Patent application TW 202222679 will be for the One-Pot synthesis of lithium iron phosphate being commercialized at the company’s Candiac facility. Patent KR 10-2443307 is for the One-Pot synthesis process of NMC and LNMO cathode materials. Patent US 11,616,230 relates to fine and ultrafine powders and nanopowders of lithium metal oxides for battery applications.

Over 50 patents awaiting approval

The latest patents issued in the three jurisdictions will extend the protection and add value to the One-Pot process technology for making lithium-ion battery cathode materials and bring Nano One’s issued patents to a total of 27. This is only a part of the company’s portfolio of patents with another 55 patent applications awaiting approval and further patent applications being considered.

Significant patents secured last year include two granted in Japan relating to Nano One’s formation of niobium-coated spinel and to a method of forming lithium mixed metal oxides such as lithium nickel manganese cobalt oxide. Their granting was significant as the company is working with at least one undisclosed Asian OEM.

Warrants

Since 1 January of this year, the company exercised 2,281,939 warrants receiving total funds of $3,651,102. The warrants were part of a private placement completed in February 2020 and were due to expire on 21 February 21 this year. The company still holds another 1,000,000 outstanding warrants with an exercise price of $4.00 which are due to expire on 16 June 2023.

Given the upheaval in the equity markets over the last few weeks caused by the demise of Silicon Valley Bank Nano One was keen to reassure shareholders that its treasury is diversified among several Canadian chartered banks and large financial institutions. The technology company maintains a conservative and diversified approach to treasury management and considers safety and security a paramount priority.

“The Nano One team remains committed to executing on business strategy and achieving our goals,” said chief executive Dan Blondal. “With three new patents, we will strengthen our position as a leading innovator and we have added meaningful shareholder value to our IP portfolio.”

Award from Sustainable Development Technology Canada

Earlier this year the battery materials firm receive an award of $10 million in non-dilutive, non-repayable contributions from Sustainable Development Technology Canada. These funds are supporting the conversion of Nano One’s recently acquired Candiac facility to the patented One-Pot Process for industrial-scale pilot production of lithium iron phosphate (LFP).

“These funds will help us fast-track the conversion of North America’s only LFP plant to Nano One’s patented One Pot Process,” said Blondal.

The company has strategic collaborations and partnerships, including automotive OEMs and major industry supply chain companies like BASF, Umicore and Rio Tinto. Nano One is aiming to pilot and demonstrate its technology as turn-key production solutions for licencee, joint venture, and independent production opportunities.

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This article does not constitute investment advice. Make sure you do your own research or consult a professional advisor.

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