Adds $12.75 million working capital for LFP commercialization initiatives.
Draws from various government awards, previously announced.
Supports pilot, capacity expansion and demonstration scale operations, engineering feasibility, commercial production and licensing initiatives.
Video tour of modernized Candiac demonstration facility featuring the One-Pot Process.
VANCOUVER, BRITISH COLUMBIA / ACCESS Newswire / March 20, 2025 / Nano One® Materials Corp. ("Nano One" or the "Company"), a process technology company specializing in lithium-ion battery cathode active materials, is pleased to announce the receipt of C$12.75million in non-dilutive cash contributions from various Government funding programs, mostly as reimbursement for recent eligible project expenditures.
Video tour: Highlighting advancements made with the One-Pot process at Nano One's LFP demonstration plant in Candiac, Québec: https://youtu.be/lM2H9fn_amY.
"These funds strengthen our balance sheet," said Nano One's CEO and Founder, Dan Blondal, "and enable us to fully execute on our capacity expansion, production and licensing plans through 2025 and further. We are drawing down from approximately C$45 million in government awards previously announced with some contributions retroactive as far back as January 1, 2023. This reflects the strategic importance of our One-Pot process for energy and supply chain security, adds considerable shareholder value and supports commercialization and the fulfillment of our corporate objectives."
These programs support Nano One's engineering, capacity expansion, demonstration, and commercialization at its LFP plant in Candiac, Québec. The $12.75 million from governments along with previously announced sale of vacant land and sale and lease back have provided combined working capital totalling $31.25M. The proceeds also fund continued activities on engineering feasibility for the Company's design-one-build-many licensing growth strategy.
Nano One also has approximately $29 million in reimbursements remaining to claim over the coming 2 years from its contracted government programs and continues to collaborate with governments on new programs.
Nano One is pleased to provide a video tour highlighting advancements made with the One-Pot process at its LFP demonstration plant in Candiac, Québec: https://youtu.be/lM2H9fn_amY.
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About Nano One®
Nano One® Materials Corp. (Nano One) is a technology company changing how the world makes cathode active materials for lithium-ion batteries. Applications include stationary energy storage systems (ESS), portable electronics, and electric vehicles (EVs). The Company's patented One-Pot process reduces costs, is easier-to permit, lowers energy intensity, environmental footprint, and reliance on problematic supply chains. The Company is helping to drive energy security, supply chain resilience, industrial competitiveness and increased performance through process innovation. Scalability is proven and being demonstrated at Nano One's LFP (lithium-iron-phosphate) pilot production plant in Québec-leveraging the only facility and expertise of its kind outside of Asia. Strategic collaborations and partnerships with international companies like Sumitomo Metal Mining, Rio Tinto, and Worley are supporting a design-one-build-many licensing growth strategy-delivering cost-competitive, easier-to-permit and faster-to-market battery materials production solutions world-wide. Nano One has received funding from the Government of Canada, the Government of the United States, the Government of Québec, and the Government of British Columbia.
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 the Company's current and future business and strategies; the intention to grow the business, operations, revenues, and potential activities of the Company; industry demand and adoption; sales of LFP and potential offtake commitments; competitive conditions; general economic conditions; the functions and intended benefits of Nano One's technology and products; the development of the Company's technology, supply chains and products; scalability of developed technology; current and future collaboration engineering, and optimization research projects; the successful and timely commencement of a commercialization phase; the purpose for expanding its facilities; the Company's licensing, joint venture opportunities and/or potential royalty arrangements; the Company's potential eligibility and benefit from recent global regulatory decisions; continued innovation on manufacturing processes, equipment and recycling; successful execution of the Company's milestones; and the acceleration and execution of the Company's plans - which are contingent on support, grants and long-term support from the Company's shareholders. 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', ‘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 the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information, including but not limited to: the success in the marketing and deployment of the cathode manufacturing plant design packages; general and global economic and regulatory changes; next steps and timely execution of the Company's business plans; the development of technology, supply chains, and plans for construction, scale-up and operation of cathode production facilities; successful current or future collaborations that may happen with OEM's, miners or others; successful execution of the Company's milestones; the execution of the Company's plans which are contingent on support and grants; the Company'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, adoption 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 27, 2024, both for the year ended December 31, 2023, and in recent securities filings for the Company which are available at www.sedarplus.ca. Although management of the Company 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. The Company 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.
