Nano One Materials Corp (CVE:NNO) (OTCPINK:NOMF) (FRA:LBMB) revealed Tuesday that it has successfully created a high voltage lithium-ion battery cell with a significant cycle life - a moment the firm described as an "exceptional" breakthrough.
The demonstration battery employed cobalt-free Lithium Nickel Manganese (LNM) cathode active material, which was made using the firm's proprietary One-Pot process.
READ: Nano One refiles financial statements after getting C$5.8M in contributions, exercised warrants
The tech group has come up with patented technology to produce, at low cost, lithium-ion battery cathode materials, which are vital in electric vehicles (EVs) and other energy storage applications.
It has built its own demonstration pilot plant and is partnered with global firms in the lithium battery supply chain to advance its lithium iron phosphate (LFP), lithium nickel manganese cobalt oxide (NMC) and lithium nickel manganese oxide (LNM) cathode technologies.
"Our high voltage battery resolves excessive gassing and anode contamination issues that are associated with this configuration when operating at both ambient and elevated temperatures," said Dr Stephen Campbell, the group's chief technology officer (CTO) in a statement.
"We are able to avoid rapid capacity fade and premature failure and have successfully demonstrated a high voltage lithium-ion battery cell with significant cycle life - this is an exceptional outcome."
Campbell explained that the enabling technology was Nano One's patented LNM cathode material operating up to 4.7 volts and made using the group's patented One-Pot process.
"The LNM voltage is 25% higher than commercial lithium-ion batteries, improving efficiency, thermal management and power," he said.
The battery cell was successfully demonstrated at automotive rates of charge and discharge for over 900 cycles, the firm noted.
LNM is also known as high voltage spinel (HVS) and is also a potentially strong candidate for use in next-generation, solid-state batteries.
Currently, several independent evaluations are underway on Nano One LNM material within the automotive supply chain.
"Nano One continues to develop processes that make novel cathode materials for the lithium-ion battery future," added Dr Campbell. "We look forward to bringing materials to market for a wide range of applications through various partnerships."
Shares in Toronto added over 7.5% on the day to stand at C$3 each.
---Updates for share price---
Contact the author at [email protected]