Vancouver, British Columbia – Might 13, 2022 (Newsfile Corp.) (Investorideas.com Newswire) Nano One® Supplies Corp. (TSX: NANO) (OTC Pink: NNOMF) (FSE: LBMB) (“Nano One” or the “Firm”) is a clear expertise firm with patented processes for the low-cost, low-environmental footprint manufacturing of high-performance cathode supplies utilized in lithium-ion batteries. Nano One has filed its monetary outcomes and operations overview for the primary fiscal quarter ended March 31, 2022 and is happy to supply the next highlights from Q1 2022.
Q1 Highlights and Headlines
- Working capital of ~$48.6 million; money of ~$48.7million
- Rising LFP demand and alternative
- Extra Authorities funding for M2CAM® and Thermal Processing initiatives
- Profitable progress in Co-Growth Settlement with CBMM
- Profitable completion of engineering research
Company Updates for Q1
On March 24, 2022, the Firm offered an replace on the rising LFP alternative. LFP demand is being pushed by automotive OEMs and different markets pushing for a localized and diversified battery provide chain in North America, Europe and India. Nano One has an revolutionary methodology of creating LFP, utilizing the One-Pot course of, which is easier, decrease value and it eliminates the necessity for the iron phosphate intermediate utilized in China, making it aggressive and uniquely adaptable to North American and European-based provide chains. It additionally improves on the environmental footprint and will make Québec and Canada world leaders in LFP and different varieties of cathode supplies. Nano One is worked up to be constructing a workforce of engineers and market specialists in British Columbia and tapping an skilled expertise pool in Québec.
Funding to Advance M2CAM® and Thermal Processing Initiatives
On March 3, 2022, the Firm introduced that it will likely be receiving advisory providers and funding of as much as $404,000 from the Nationwide Analysis Council of Canada Industrial Analysis Help Program (“NRC-IRAP”) to help a analysis and growth mission to advance its M2CAM® expertise and thermal processing improvements. The mission will additional advance value optimization of the One-Pot Course of for the manufacture of CAM, particularly because it relates to make use of in steel feedstocks enabled by Nano One’s M2CAM® expertise and improvements within the remaining stage of thermal processing.
Profitable Completion of Section Considered one of Co-Growth Settlement with Niobium Producer CBMM
On February 15, 2022, the Firm introduced that it has efficiently accomplished Section Considered one of its superior lithium-ion battery cathode supplies coating growth settlement with CBMM, the world’s main provider of niobium merchandise and expertise. Nano One has efficiently demonstrated using CBMM’s niobium to kind a protecting coating on Nano One’s single nanocrystal NMC cathode lively materials. This coating is designed to boost sturdiness, and the success on this primary milestone strengthens the availability chain relationship between CBMM and Nano One whereas offering one more demonstration of the pliability of Nano One’s patented One-Pot course of.
Section One utilized the niobium coating expertise to NMC811 cathode lively materials and the subsequent two phases will deal with the niobium coating of even larger nickel NMC. It will embrace scaling of the One-Pot coating expertise to exhibit business viability and validate the availability chain. Collectively, CBMM and Nano One are growing an built-in and differentiated provide chain for niobium coated single crystal cathode supplies.
Engineering Research Helps the Advantages of the One-Pot Course of and M2CAM
On January 24, 2022, the Firm introduced the profitable completion of an industrial scale engineering research carried out by Hatch Ltd. (“Hatch”) a number one international engineering agency. That is one other essential step ahead in Nano One’s efforts to carry the most recent improvements in cathode manufacturing expertise by scale-up in the direction of commercialisation. The research helps that Nano One’s patented One-Pot M2CAM® course of affords each environmental and potential financial advantages when in comparison with typical cathode manufacturing processes.
The engineering research got down to examine the standard sulfate course of for manufacturing CAM with Nano One’s One-Pot M2CAM® course of for nickel wealthy cathode supplies. Typical cathode manufacturing produces roughly 1.8 occasions extra weight in sodium sulfate waste than it does in CAM product, whereas Nano One’s course of produces no waste. It’s estimated the One-Pot M2CAM® course of additionally reduces water consumption by roughly 60% previous to recycling. Additional, the Hatch work helps that the Nano One’s course of considerably reduces the variety of course of steps to get to a single crystal coated cathode lively materials serving to scale back prices and create efficiencies. The report estimates aggressive economics for Nano One and its One-Pot course of over typical cathode processes and identifies alternatives for additional value financial savings, regardless of One-Pot having over 20-years much less industrial optimization. Work is already underway on additional optimizations.
Q1 Monetary Place and Outcomes
- Gross expenditures on analysis actions of ~$1,700,000 (This fall 2021 – ~$800,000) (Q1 2021 – ~$800,000)
- Purchases and/or deposits on company and laboratory tools of ~$300,000 earlier than allocations of presidency grant funding as reimbursements
- Internet use of money of ~$3,900,000 to facilitate operational and strategic efforts
- Whole belongings of ~$51,400,000 (December 31, 2021 – ~$55,400,000)
- Whole liabilities of ~$1,400,000 (December 31, 2021 – ~$1,600,000)
Money inflows included workouts of inventory choices and warrants for whole proceeds of ~$60,000, and proceeds from Authorities packages of ~$68,000.
For a extra detailed dialogue of Nano One’s first quarter and 12 months thus far 2022 outcomes, please check with the Firm’s monetary statements and administration’s dialogue & evaluation, which can be found at www.sedar.com.
About Nano One
Nano One® Supplies Corp (Nano One) is a clear expertise firm with a patented, scalable and low carbon depth industrial course of for the low-cost manufacturing of high-performance lithium-ion battery cathode supplies. The expertise is relevant to electrical car, vitality storage, client digital and subsequent technology batteries within the international push for a zero-emission future. Nano One’s One-Pot course of, its coated nanocrystal supplies and its Steel to Cathode Lively Materials (M2CAM®) applied sciences tackle elementary efficiency wants and provide chain constraints whereas decreasing prices and carbon footprint. Nano One has obtained funding from numerous authorities packages and the present “Scaling of Superior Battery Supplies Venture” is supported by Sustainable Growth Expertise Canada (SDTC) and the Modern Clear Power (ICE) Fund of the Province of British Columbia. For extra info, please go to www.nanoone.ca.
Antenna Group for Nano One
Sure info contained herein might represent “forward-looking info” and “forward-looking statements” inside the that means of relevant securities laws. All statements, aside from statements of historic reality, are forward-looking statements. Ahead-looking info on this information launch consists of, however just isn’t restricted to: present and future collaboration engineering, and optimization analysis tasks; the execution of the Firm’s plans, growth of supplies, strategies of manufacturing and research for pre-pilot, pilot and scaled up manufacturing on the trail to commercialisation that are contingent on help and grants and the commercialisation of the Firm’s expertise and patents. Typically, forward-looking info could be recognized by means of terminology resembling ‘consider’, ‘count on’, ‘anticipate’, ‘plan’, ‘intend’, ‘proceed’, ‘estimate’, ‘might’, ‘will’, ‘ought to’, ‘ongoing’, ‘goal’, ‘purpose’, ‘potential’ or variations of such phrases and phrases or statements that sure actions, occasions or outcomes “will” happen. Ahead-looking statements are based mostly on the present opinions and estimates of administration as of the date such statements are made aren’t, and can’t be, a assure of future outcomes or occasions. Ahead-looking statements are topic to identified and unknown dangers, uncertainties and different elements which will trigger the precise outcomes, degree of exercise, efficiency or achievements of the Firm to be materially totally different from these expressed or implied by such forward-looking statements or forward-looking info, together with however not restricted to: any future collaborations which will occur with companions resembling Euro Manganese or any others which will happen; the Firm’s potential to realize its said objectives; the commercialisation of the Firm’s expertise and patents; the execution of the Firm’s plans, growth of supplies, strategies of manufacturing and research for pre-pilot, pilot and scaled up manufacturing on the trail to commercialisation; and different danger elements as recognized in Nano One’s MD&A and its Annual Info Type dated March 28, 2022, each for the 12 months ended December 31, 2021, and in current securities filings for the Firm which can be found at www.sedar.com. Though administration of the Firm has tried to establish essential elements that would trigger precise outcomes to vary materially from these contained in forward-looking statements or forward-looking info, there could also be different elements that trigger outcomes to not be as anticipated, estimated or supposed. There could be no assurance that such statements will show to be correct, as precise outcomes and future occasions might differ materially from these anticipated in such statements. Accordingly, readers mustn’t place undue reliance on forward-looking statements and forward-looking info. The Firm doesn’t undertake any obligation to replace any forward-looking statements or forward-looking info that’s included by reference herein, besides as required by relevant securities legal guidelines. Buyers mustn’t place undue reliance on forward-looking statements.
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