Mr. Dan Blondal reports

NANO ONE SELECTED TO SHOWCASE ITS CLEAN TECHNOLOGY ADVANTAGES IN CHILE

Nano One Materials Corp. has provided an update.

Highlights:

• Nano One is part of AUI's successful bid to Chilean Clean Technology Institute.
• The proposal is to make nickel-rich (low-cobalt) cathode direct from Chilean lithium carbonate.
• The Nano One process avoids costly conversion to lithium hydroxide.
• There is no need for a costly hydroxide facility nor related consumption of water and energy.
• Lithium carbonate is easier to handle and less costly than lithium hydroxide.

Nano One chief executive officer Dan Blondal says Nano One submitted a non-binding proposal and letter of intent in March of 2020 to the Chilean Clean Technology Institute, Instituto Chileno de Tecnologias Limpias (ICTL), as part of a joint project proposal with Associated Universities Inc. (AUI). AUI was announced as the winning bid by the Corporacion de Fomento de la Produccion de Chile (CORFO) council on Jan. 4, 2021, to build, manage and operate the institute.

"Chile is one of the largest lithium producers in the world by making lithium carbonate from brine resources in the Atacama desert," explained Mr. Blondal. "We have proposed to ICTL a demonstration of Nano One's patented one-pot process using lithium carbonate directly for the production of nickel-rich cathode materials. Our innovation avoids the need for lithium hydroxide, the costs of the required conversion plants, and the associated consumption of water and energy. Furthermore, lithium carbonate eliminates issues related to shelf life and corrosion, making it easier to handle and less costly. These advantages could disrupt the supply chain and lead to increased demand for lithium carbonate and are at the core of the proposal we have made to the Chilean Clean Technology Institute."

Nano One's technology offers the flexibility to use either lithium carbonate or hydroxide. This is enabled by mixing lithium with all other metal inputs in Nano One's patented one-pot reaction to produce a fully lithiated mixed-metal intermediate powder that is neither carbonate nor hydroxide, allowing it to form finished cathode powder when thermally processed in a furnace. In contrast to this, conventional methods form mixed-metal intermediate powders that must then be milled and thermally processed with lithium hydroxide powders because the required furnace temperatures are not compatible with lithium carbonate.

Mr. Blondal added, "We look forward to exploring this opportunity further to showcase our technology with the Chilean Clean Technology Institute and we would like to congratulate AUI for their successful bid."

AUI chief executive officer Dr. Adam Cohen explained, "We are excited to work with Nano One as we prepare to create, manage and operate the ICTL, including a new battery testing and manufacturing facility in the Antofagasta region."

About Nano One Materials Corp.

Nano One Materials 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 enables lower cost feedstocks, simplifies production and advances performance for a wide range of cathode materials. Nano One has built a demonstration pilot plant and is partnered with global leaders in the lithium ion battery supply chain to advance its lithium iron phosphate (LFP), lithium nickel manganese cobalt oxide (NMC) and lithium nickel manganese oxide (LNM) cathode technologies for large growth opportunities in e-mobility and renewable energy storage applications.

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