Our Next Energy (ONE) and Nano One
Sign Joint Development Agreement (JDA) to Strengthen North American
Supply Chain for LFP Batteries
JDA innovations focused on
increasing range, lowering costs and minimizing the carbon
footprint for LFP batteries.
June 14, 2023
Vancouver, Canada (TSX: NANO) (OTC: NNOMF) (Frankfurt: LBMB) and Novi, Michigan.
Highlights:
-
Nano One and ONE to jointly
develop Nano One's LFP CAM for potential use in ONE's LFP
batteries.
-
Collaboration aims to qualify
& validate LFP CAM for binding offtake agreement.
-
Combined innovations are aimed
at increasing range while lowering cost, environmental footprint
and offering a North American solution.
Nano One®
Materials Corp. ("Nano
One"), a leader in the sustainable production of
lithium-ion battery cathode materials, and Our Next Energy (ONE), a
Michigan-based energy storage technology company, have signed a
joint development agreement (JDA) to collaborate on the validation,
qualification and production of a North American supply of lithium
iron phosphate (LFP) cathode active materials (CAM).
The CAM will be produced at Nano One's Candiac, Québec, pilot and
future commercial facilities for potential use in ONE's production
LFP cells used in Aries and Gemini batteries. Nano One's Candiac
facility is currently the only LFP CAM production plant in North
America and its production milestones are aligned with ONE's
battery production growth projections. Working together, ONE and
Nano One aim to qualify and validate the LFP CAM from its
previously announced 200tpa pilot, potentially leading to a binding
offtake agreement from the future commercial production
facility.
"Establishing a North American
supply chain for LFP batteries is one of the pillars on which we
founded ONE ," said Mujeeb Ijaz, CEO & Founder of ONE.
"Nano One's innovative and
localized CAM process is aligned with ONE's efforts to grow our
local material supply chain while minimizing cost, complexity and
environmental footprint."
Nano One is repurposing the Candiac plant to use its patented
One-Pot process for the pilot production of LFP CAM, with
re-commissioning scheduled for Q3 2023. This move gives Nano One a
multi-year head start and a significant competitive advantage in
the race to differentiate and commercialize a clean, green and
secure North American LFP supply chain.
Dan Blondal, CEO and Founder of Nano One stated, "We look forward to collaborating with ONE
and co-developing a robust and economically resilient LFP battery
supply chain that is decoupled and environmentally differentiated
from the dominance of the overseas market. This is great news for
our shareholders and also for our government supporters, and it is
another important step forward for Nano One in the process to
securing offtakes and monetizing our technology. We want to work
with well-funded companies that have the backing of global industry
leaders, and the battery technology and production experience to
capture significant market share, so it is with great confidence
that we are adding ONE to our ecosystem of trusted
partners."
ONE began production of its Aries LFP battery pack earlier this
year. The company is also building, ONE Circle, its first battery
cell factory. ONE Circle is a 20 GWh battery cell factory that will
be located in Van Buren Township, MI and begin operation in
2024.
Both ONE and Nano One are confident the companies can work together
to meet or exceed stringent industrial validation standards. There
is solid alignment and support from Governments in the United
States and Canada, and each company brings valuable strategic
partners and shareholders that include Auto OEMs,
multinational
critical mineral suppliers, and leading
chemical companies.
###
About
Nano One®
Nano
One Materials Corp. (Nano One)
is a clean technology company with a patented, scalable and low
carbon intensity industrial process for the low-cost production of
high-performance lithium-ion battery cathode materials. With
strategic collaborations and partnerships, including automotive
OEMs and strategic industry supply chain companies like BASF,
Umicore and Rio Tinto. Nano One's technology is applicable to
electric vehicles, energy storage, and consumer electronics,
reducing costs and carbon intensity while improving environmental
impact. The Company aims to pilot and demonstrate its technology as
turn-key production solutions for license, joint venture, and
independent production opportunities, leveraging Canadian talent
and critical minerals for emerging markets in North America,
Europe, and the Indo-Pacific region. Nano One has received funding
from SDTC and the Governments of Canada and British Columbia.
For
more information, please visit www.nanoone.ca
ABOUT Our Next Energy
Our Next Energy Inc. (ONE) is a
Michigan-based energy storage technology company focused on
engineering batteries that will accelerate electrification in
transportation and stationary applications. ONE's vision is to:
double the range of electric vehicles; use safer, more sustainable
raw materials; and establish a localized supply chain.
Visit www.one.ai to learn
more.
Company Contacts:
Paul Guedes
info@nanoone.ca
(604) 420-2041
Dan Pierce
Our Next Energy
Dpierce@one.ai
(314) 517-4750
Cautionary Notes and
Forward-looking Statements
Certain information contained
herein may constitute "forward-looking information" and
"forward-looking statements" within the meaning of applicable
securities legislation. All statements, other than statements of
historical fact, are forward-looking statements. Forward-looking
information in this news release includes, but is not limited to:
the development of technology, supply chains, and plans for
construction, scale-up and operation of a multi cathode piloting
hub (MCPH); industry demand; successful current and future collaborations
that are/may happen with OEM's, miners or others; the functions and
intended benefits of Nano One's technology and products; the
development of Nano One's technology and products; the commencement
of a commercialization phase at Candiac; Nano One's licensing,
supply chain, joint venture opportunities and potential royalty
arrangements; the purpose for expanding the Candiac facilities and
scalability of developed technology; and the execution of Nano
One's plans - which are contingent on support and grants.
Generally, forward-looking information can be identified by the use
of terminology such as 'believe', 'expect', 'anticipate', 'plan',
'intend', 'continue', 'estimate', 'may', 'will', 'should',
'ongoing', 'target', 'goal', 'encouraged', 'projected', 'potential'
or variations of such words and phrases or statements that certain
actions, events or results "will" occur. Forward-looking statements
are based on the current opinions and estimates of management as of
the date such statements are made are not, and cannot be, a
guarantee of future results or events. Forward-looking statements
are subject to known and unknown risks, uncertainties and other
factors that may cause the actual results, level of activity,
performance or achievements of Nano One to be materially different
from those expressed or implied by such forward-looking statements
or forward-looking information, including but not limited to:
general and global economic and regulatory
changes; next steps and timely execution of
Nano One's business plans; the development of
technology, supply chains, and plans for construction and operation
of the MCPH; industry demand; successful current or future
collaborations that may happen with OEM's, miners or others; the
execution of Nano One's plans which are contingent on support and
grants; Nano One's ability to achieve its stated goals; the
commercialization of the Company's technology and patents via
license, joint venture and independent production; anticipated
global demand and projected growth for LFP batteries; and other
risk factors as identified in Nano One's MD&A and its Annual
Information Form dated March 29, 2023, both for the year ended
December 31, 2022, and in recent securities filings for Nano One
which are available at www.sedar.com. Although management of Nano
One has attempted to identify important factors that could cause
actual results to differ materially from those contained in
forward-looking statements or forward-looking information, there
may be other factors that cause results not to be as anticipated,
estimated or intended. There can be no assurance that such
statements will prove to be accurate, as actual results and future
events could differ materially from those anticipated in such
statements. Accordingly, readers should not place undue reliance on
forward-looking statements and forward-looking information. Nano
One does not undertake any obligation to update any forward-looking
statements or forward-looking information that is incorporated by
reference herein, except as required by applicable securities
laws. Investors should not
place undue reliance on forward-looking statements.
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