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Nano One 2024

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  1. forum rang 9 nine_inch_nerd 2 oktober 2024 16:00
    Nano One Secures U.S. DOD Funding to Drive Lithium Iron Phosphate Battery Technology
    Written by: Steve Darling Published: 09:49 02 Oct 2024 EDT
    Nano One Materials Corp (TSX:NANO, OTC:NNOMF) Senior Vice President, External Affair. Adam Johnson joined Steve Darling from Proactive to discuss the company’s latest milestone: securing $12.9 million in funding from the U.S. Department of Defense. This financial boost, granted through the Defense Production Act Title III, will accelerate Nano One’s efforts to commercialize their Lithium Iron Phosphate (LFP) battery technology. Johnson emphasized how this funding, combined with other government support, significantly strengthens the company’s financial position.
    Video interview erbij, altijd fijner:
    www.proactiveinvestors.com/companies/...
  2. forum rang 9 nine_inch_nerd 14 november 2024 09:57
    Voor het archief. :)

    Nano One Reports Q3 2024 Results and Provides Update
    Q3 2024 Results and Subsequent Events – Highlights and Headlines

    Streamlining operations and increasing focus on LFP production and licensing
    Closing on $5.0 million sale of vacant land
    Award of US$12.9 million from the Department of Defense (DoD) of the USA
    Appointment of Anthony Tse as New Chair of the Board of Directors
    Total net assets of $26.9 million and working capital of $10.9 million at Q3 2024 period end
    SDTC project update
    Nano One® Materials Corp. (“Nano One” or the “Company”) is a clean technology company with patented processes for the low-cost, low-GHG production of lithium-ion battery cathode active materials (“CAM”).

    Nano One has filed its condensed interim consolidated financial statements (the “financial statements”) and management’s discussion & analysis (“MD&A”) as at and for the nine months ended September 30, 2024 (“Q3 2024”) and is pleased to provide a summary and an update on subsequent events.

    Streamlining Operations to Focus on LFP Commercialization
    In August 2024, the Company announced the streamlining of its operations, allowing for increased focus on lithium iron phosphate (“LFP”), joint ventures, contracted projects, accelerated path to revenue generation, and growth through licensing. The Company announced its commitment to controlling costs and focusing on near-term commercialization targets.

    Nano One has the goal of licensing its One-Pot LFP CAM packages, globally, to chemicals, materials, and energy companies looking to produce CAM for the battery market in EV and ESS applications. Shareholder value will be created with increased market penetration through the Company’s partnership channels, with the low cost of capital from its licensees, and by diversifying revenue exposure via the Worley Chemetics alliance to include equipment procurement, along with licensing fees and revenues from its plant in Candiac, Québec.

    The Company’s piloting facility in Candiac provides a distinct advantage in North America as it can produce cathode materials at a commercially relevant scale today with the capability of expanding capacity up to 2,000 tpa. The facility will serve a robust pipeline of potential LFP CAM customers that include automotive, energy and stationary storage and US government contractors, and will be the basis and center of excellence for much larger facilities via the Company’s “Design One, Build Many” licensing and growth strategy.

    Nano One closes on $5.0 Million Sale of Vacant Land
    In September 2024, the Company announced closing on the sale of vacant land which was part of the 2022 acquisition of Johnson Matthey Battery Materials Canada Ltd., for gross proceeds of $5.0 million. Nano One sold the land to a flexible packaging leader for the food industry in Canada.

    The proceeds from the sale provides capital that supports the LFP cathode manufacturing facility on the remaining property in Candiac, Québec and the innovation hub in Burnaby, British Columbia. These existing facilities remain the launch pad for the Nano One's growth strategy and a clear path to first revenue and larger offtakes.

    Department of Defense awards Nano One US$12.9 Million
    In September 2024, the Company announced the award of US$12.9 million (~$17.8 million) by the Department of Defense (DoD) of the United States of America (USA) through the Defense Production Act Investments (DPAI) office’s Title III program. The funding supports capacity expansion at the existing Candiac, Québec LFP production facility as well as the Burnaby, British Columbia R&D facilities while expanding the LFP industrial base and strengthening energy security in North America.

    Appointment of Industry Veteran Anthony Tse as New Chair of the Board of Directors
    Effective October 1, 2024, the Company appointed Mr. Anthony Tse as the new Chair of the Board of Directors succeeding Paul Matysek, who is the founding Chair of Nano One and resigned as part of a planned transition to an advisory role that supports the incoming Chair and Board.

    SDTC First Amendment to Project Funding Agreement
    Under its February 2023 agreement with Sustainable Development Technology Canada (SDTC), Nano One was to be reimbursed for up to $10,000,000 in eligible project expenses to support the conversion of Nano One’s Candiac facility to the patented One-Pot process for industrial-scale pilot production of LFP. The SDTC project was to also include financial reimbursement for expenses incurred in the design, construction, and operation of a multi-cathode piloting hub (MCPH) at the Company’s facility in Candiac, Québec.

    To re-align the SDTC program with the Company’s focus on LFP and commercialization as announced on August 22, 2024, Nano One and SDTC executed an amended agreement, on November 6, 2024, that changed the scope of the project to exclude the MCPH component of the program and include certain feasibility and engineering expenses (“FEL3”) related to the development of a larger LFP CAM facility (the “Development Project”). This amendment helped reduce overall project costs to Nano One and as such, it also reduced the projected reimbursements from SDTC for these expenses to approximately $6,700,000.

    Q3 2024 – Financial Position
    As at September 30, 2024, the Company’s total net assets and working capital were $26.9 million and $10.9 million, respectively.
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