Mr. Dan Blondal reports
NANO ONE ENTERS INTO A JOINT DEVELOPMENT AGREEMENT WITH A GLOBAL CATHODE MATERIAL PRODUCER
Nano One Materials Corp. has entered into a joint development agreement (JDA) with a multibillion-dollar Asian cathode material producer. This producer, based outside of China, wishes to remain unnamed at present due to the highly competitive state of the lithium-ion battery supply chain. The JDA completely aligns with Nano One's mission of developing, demonstrating and licensing of its high performance lithium-ion battery cathode material technology.
"We are thrilled to be working with a highly respected cathode producer who shares Nano One's vision to develop and launch a disruptive cathode business," said Mr. Blondal. "This is a defining moment in our evolution and an important milestone in the advancement of our business."
Under this JDA, the parties will jointly develop and evaluate cathode materials made with combined technologies, including Nano One's patented one-pot process for the production of high performance coated single crystal cathode powders. The JDA also provides a framework to develop a business plan for the commercialization of these jointly developed materials. The potential outcomes of the JDA include formation of a joint venture, licensing of Nano One's technology and or further joint development work.
Nano One has developed, patented and scaled up innovative processes that produce cathode active materials (CAM) for lithium-ion battery applications in electric vehicles, energy storage and consumer electronics. The processes are engineered with a low carbon footprint to form protective coatings on individual crystals that improve durability and add value while reducing process steps and cost.
Mr. Blondal added: "We have assembled a valuable portfolio of cathode technologies and our business strategy is designed for opportunities such as this. We are excited to be working with a global leader in innovation and materials manufacturing who share our vision and we look forward to advancing this partnership and expanding our business opportunities."
About Nano One Materials Corp.
Nano One 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.
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