Engineering Report Enhances Value of Nano One's LFP Battery Cathode Technology
June 04 2020 - 02:07AM
Nano One Materials Corp. (TSX-V: NNO) (OTC-Nasdaq Intl
Designation: NNOMF) (Frankfurt: LBMB).
Highlights
- Engineering report to help advance commercial adoption of Nano
One LFP technology
- Enhanced design specifications, tighter budgetary estimates and
improved economics
- Rising global enthusiasm for LFP with auto companies announcing
600 km range EVs
Mr. Dan Blondal, CEO at Nano One, is pleased to announce that
Nano One has completed a detailed engineering report that enhances
design specifications, tightens budgetary estimates and models
improved economics for the commercial scale production of
lithium-ion battery cathode materials using Nano One's patented
process technology.
"We now have improved economics, and enhanced design
specifications on a 4800 tonne per year manufacturing line for the
production of lithium iron phosphate, known as LFP," said Mr.
Blondal. "The details in this engineering report will help advance
the marketing and commercialization of Nano One technology. The
results present tangible and meaningful cost reductions in
equipment, construction and operating expenses. It will showcase
and advance the licensing and joint venture prospects of our
patented one-pot cathode materials and production
processes."
The report was prepared by Noram Engineering and Constructors of
Vancouver, British Columbia. Enhanced budgetary analysis and
economic modeling in the report reveals a reduction in equipment
and operating expenses from last year’s estimates which complement
raw material cost reductions announced in partnership with Pulead
Technology in December 2019. The report also provides design
specifications, process diagrams, flow sheets, mass balance and
plant layout.
The engineering specifications and economic modeling in this
report enhance the value of Nano One's technology and strengthen
Nano One's commercial opportunities with Pulead and other global
strategic interests. Further, the report forms an engineering basis
for Nano One's other cathode materials, namely lithium nickel
manganese cobalt oxide (NMC) and lithium nickel manganese oxide
(LNMO).
"LFP is experiencing renewed market enthusiasm," added Mr.
Blondal, "because global leaders BYD, CATL and Tesla have announced
high energy density LFP battery packs in vehicles that facilitate
driving ranges up to 600 km. These innovations could radically
expand the global demand for LFP cathode materials beyond Asia and
into North America, Europe and other markets. This represents a
tremendous opportunity for Nano One to leverage its low cost
production of LFP and to advance its commercial prospects."
Dan Blondal, CEO
For information with respect to Nano One or the contents of this
news release, please contact John Lando (President) at (604)
420-2041 or visit www.nanoone.ca.
About Nano One
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 partnering with global leaders in the
lithium-ion battery supply chain, including Pulead, Volkswagen and
Saint-Gobain 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.
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) and the Automotive
Supplier Innovation Program (ASIP) a program of Innovation, Science
and Economic Development Canada (ISED). 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. www.nanoone.ca
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