VANCOUVER, British Columbia, Jan. 21, 2019 (GLOBE NEWSWIRE) -- (TSX-V: NNO) (OTC-Nasdaq Intl Designation: NNOMF) (Frankfurt: LBMB). The CEO of Nano One Materials Corp., Mr. Dan Blondal, is pleased to announce that Nano One has entered into a Joint Development Agreement with Pulead Technology Industry.
This is Nano One’s second Joint Development Agreement and the objective is to develop, evaluate and optimize scaled up production of Pulead’s lithium iron phosphate (LFP) cathode materials using Nano One’s technology, for use in lithium ion batteries. Licensing and commercialization opportunities will also be explored as part of the collaboration.
“Pulead is a highly respected cathode producer with a track record of partnering with international providers of intellectual property,” said Mr. Blondal. “By working together, we aim to improve the cost and performance of LFP materials and to expand its use in industrial batteries, e-buses and electric vehicles. This agreement formalizes an important strategic relationship between Nano One and Pulead that began last year with visits, battery testing and economic evaluation. This marks a key milestone in the execution of Nano One’s business plan.”
LFP is the safest and lowest cost cathode material for lithium ion batteries because it is highly durable and does not contain supply constrained cobalt or nickel. A number of leading battery analysts1 believe that LFP market share will remain significant and that demand for LFP will continue to grow in 2020 and beyond, as incentives programs evolve and safety becomes increasingly important. Furthermore, cost reductions could significantly increase the demand for LFP as it becomes a cathode of choice for ESS (energy storage systems), as it replaces lead-acid batteries and as it expands its foothold in the electrification of transportation.
Over the last two years, Nano One’s scientific team has developed an innovative process that simplifies the production of high performance carbon coated LFP. Most importantly, this technology improves operating and capital expenses by using lower cost raw material inputs with fewer process steps and by avoiding costly waste streams. The patent pending technology uses an aqueous process operating at room temperature, ambient pressure and mild pH.
Driven by lower costs, higher performance and emerging markets, the global demand for LFP is projected to grow from 100,000 metric tonnes in 2017 to 130,000 tonnes in 2020 and over 200,000 tonnes in 20251. The collaboration between Pulead and Nano One has the potential to provide the parties with increased margins and a scalable manufacturing platform to address the anticipated market growth in LFP.
“Pulead is excited to be working with Nano One and we are very encouraged by their ground-breaking innovations and capabilities,” said Dr. Yuan Gao, CEO of Pulead. “We look forward to fostering a profitable, long lasting and collaborative working relationship.”
Nano One Materials Corp.
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 the website at www.nanoone.ca.
About Pulead
Established in 1999 by Oriental Investment Co. Ltd and Peking University, Pulead Technology Industry is one of China’s leading Li-ion battery cathode producers. Together with its strategically positioned subsidiaries and JVs in cathodes and separators as well as in upstream lithium resources and downstream large format battery packs, Pulead is becoming a key player in the Li-ion battery supply chain. www.pulead.com.cn/en/
About Nano One
Nano One Materials Corp (“Nano One” or “the Company”) 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 addresses fundamental supply chain constraints by enabling wider raw materials specifications for use in lithium ion batteries. The process can be configured for the full range of cathode materials and has the flexibility to shift with emerging and future battery market trends.
Nano One has built a pilot plant to demonstrate high volume production and to optimize its technology across a range of materials. The pilot plant is 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
Certain information contained herein may constitute “forward-looking information” under Canadian securities legislation. Forward-looking information includes, but is not limited to, the execution of the Company’s plans. Generally, forward-looking information can be identified by the use of forward-looking terminology such as 'believe', 'expect', 'anticipate', 'plan', 'intend', 'continue', 'estimate', 'may', 'will', 'should', 'ongoing', or variations of such words and phrases or statements that certain actions, events or results “will” occur. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they 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 projections for the global demand for LFP. 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 to update any forward-looking statements or forward-looking information that is incorporated by reference herein, except as required by applicable securities laws.
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K. Berman, C. Hamilton, J. Jackson, R. Carlson, “Next Generation Cathode Technologies”, BMO Capital Markets, Toronto October 2018
C. Pillot, “The Rechargeable Battery Market and Main Trends 2017-2025”, Avicenne Energy, AABC San Diego June 2018
T. Hoff, S. Ding, V. Leung, S. Hoon Han, C. Kim, C. Terry, “Notes from the road: Jostling for position in the EV supply chain”, Deutsche Bank Research, Sydney October 2018