This week, we speak to Dan Blondal, CEO of Nano One (TSX: NANO / FRA: LBMB / OTC: NNOMF). Nano One is a Canadian-based company which specialises in battery materials technology and the development of proprietary manufacturing processes that can allow for the creation of cheaper, more efficient and more sustainable batteries.
The major developments which have taken place over the past couple of years in the battery technology industry have attracted a lot of attention from retail and institutional investors worldwide. The miraculous growth in Electric Vehicle (EV) adoption rates have led to significant surges in the demand for metals and materials involved in EV battery production and preservation, such as lithium and copper.
On the Podcast
Founded in 1987, Nano One has cemented itself as a leading innovator within the storage battery manufacturing industry. Its patented process for the low cost production of high performance cathode materials used in lithium ion batteries is applicable to a wide range of cathode materials used in batteries for EVs, energy storage and consumer electronics. The company is also partnering with global leaders to advance its cathode technology for e-mobility and energy storage system applications in the coming years.
On this podcast CEO Dan Blondal gives listeners an insight into Nano One’s recent agreement to acquire all of the outstanding shares of Johnson Matthey Battery Materials in Canada for around C$10.25 million. He explains that the acquisition, which is fully funded and is on a cash-free, debt-free basis, subject to certain working capital adjustments, fits in well with Nano One’s existing scale up ambitions that are becoming increasingly focused on Quebec.
Earlier this month, Nano One also announced it had signed a strategic partnership deal with Rio Tinto (LSE: RIO). The partnership involves a $10 million investment into Nano One by the mining giant which is intended to accelerate the company’s multi-cathode commercialisation strategy and support cathode active materials manufacturing within Canada. Blondal gives further details on this deal and outlines just how beneficial this could be for the business in the years ahead.
For many years now, Nano One has been strongly supported by the Canadian government, both from the provincial and federal level, due to the company’s work in helping to achieve Canada’s green energy strategy through the development of green technology and the secure supply of raw materials involved in EV production.
As a business which is becoming increasingly important to Canada’s aims to reduce its carbon footprint and environmental impact, domestic government support is set to continue. Dan Blondal explains how Nano One can take advantage of these opportunities and become technology partners with some of the biggest names in Canada.
Looking into the future, Nano One is aiming to continue its collaborations with automotive companies and further expand its business partnerships across even more industries. The company has been working with several OEMs (Original Equipment Manufacturers) in an attempt to continue its development of a new generation of materials that will be cleaner, greener and faster than those of previous generations. With continued backing from the Canadian government, as aforementioned, Nano One is set to experience a great deal of operational and financial success in the second half of 2022.
