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Nano One Materials partners with major Asian cathode manufacturer to develop technology for high-performance lithium ion batteries

“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,” CEO Dan Blondal told shareholders

Nano One Materials Corp. -
Nano One has developed a patented technology for the low-cost production of high-performance lithium ion battery cathode materials

Nano One Materials Corp (CVE:NNO) (OTCMKTS:NNOMF) announced Monday a major new agreement that sets the stage to advance its lithium ion battery cathode material technology.

The Vancouver-based company signed a joint development agreement with an unnamed Asian cathode material producer to develop and evaluate materials made with combined technologies.

Nano One has developed a patented technology for the low-cost production of high-performance lithium ion battery cathode materials for electric vehicles, energy storage and consumer electronics.

READ: Nano One Materials receives final payment under Automotive Supplier Innovation Program following successful completion of pilot lithium battery project

The technology firm said the agreement “completely aligns” with Nano One’s vision to develop and license 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,” CEO Dan Blondal told shareholders in a statement. “This is a defining moment in our evolution and an important milestone in the advancement of our business.”

Nano One’s patented One-Pot process for the production of high-performance coated single crystal cathode powders is included in the agreement, which also lays out a framework to develop a business plan to commercialize the materials.

The development partner, a multibillion-dollar company based outside of China, wishes to remain anonymous due to the competitive nature of the lithium battery supply chain, according to Nano One. The partners may potentially form a joint venture, license the technology or jointly pursue other opportunities.

"We have assembled a valuable portfolio of cathode technologies and our business strategy is designed for opportunities such as this,” Blondal added.

“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."

Contact Angela at [email protected]

Follow her on Twitter @AHarmantas

Quick facts: Nano One Materials Corp.

Price: 3.31 CAD

TSX-V:NNO
Market: TSX-V
Market Cap: $286.32 m
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