Nano One Materials optimizing process for commercial production of high-performance lithium-ion batteries

Nano One Materials Corp (CVE:NNO) (OTCMKTS:NNOMF) is on track to design a low-cost lithium-ion phosphate plant with its Chinese partner Pulead Technology Industry, its CEO Dan Blondal said on Tuesday.

The partnership with Pulead, announced in January 2019, is geared towards developing a viable supply chain and designing a low-cost plant using Nano One’s patented technology for the economic production of high-performance lithium-ion battery cathode materials.

READ: Nano One Materials awarded third Canadian patent

“After two months, our teams are working well together and developments at the lab and pilot scale are moving along at a good pace,” said Blondal in a statement. “We have identified viable raw materials, are refining our processes, and are evaluating resulting materials against target specifications.”

The company’s performance targets and economic modeling remain on track, Blondal added.

Nano One has developed a proprietary process using lithium carbonate that enables lower cost sources of iron and phosphate than those currently procured by lithium-ion phosphate (LFP) producers.

According to the Vancouver-based company, LFP represents a huge market opportunity, with demand expected to double to over 200,000 tons per year by 2025. LFP is the dominant cathode material in electric buses, mid-range electric cars and fleet vehicles.

The company also noted that LFP could become a cost-competitive and environmentally superior alternative to lead-acid batteries.

Pulead is one of China’s leading lithium-ion battery cathode producers with a strategic network of global joint venture partners designed to secure upstream lithium resources and downstream large format battery packs.

Shares of Nano One closed at C$1.25 in Toronto and US$0.93 south of the border on Monday.

Contact Angela at [email protected]

Follow her on Twitter @AHarmantas

Story by ProactiveInvestors