Vancouver, British Columbia, Aug 11, 2021 (Newsfile Corp via COMTEX) -- Vancouver, British Columbia--(Newsfile Corp. - August 11, 2021) - Nano One® Materials Corp. (otc pink:NNOMF) /zigman2/quotes/203186071/delayed DE:LBMB -3.33% ("Nano One") is a clean technology company with patented processes for the low-cost, low-environmental footprint production of high-performance cathode materials used in lithium-ion batteries. Nano One announces its financial results and operations overview for the second fiscal quarter ended June 30, 2021 and is pleased to review the following highlights from Q1 and Q2 2021.
Q1 and Q2 Highlights and Headlines
"The first half of this year has been extremely busy for Nano One as we execute on our business strategy in a rapidly evolving market," commented Mr. Dan Blondal, CEO. "We have solidified our treasury, entered into agreements with global partners, expanded our facilities to support those partnerships and we continue to innovate as we focus on the path to commercialization."
Q2 Corporate Updates
Progress Update on Joint Development Agreement with Asian Manufacturer
In April 2021, the Company announced a progress update on the Joint Development Agreement signed in August 2020 (the "JDA"). The first two phases of the program have been focused on lithium nickel manganese oxide ("LNMO") cathode materials and have been successfully completed with validation by both parties. Work is now shifting to scale-up considerations, detailed economic analysis, third-party evaluation, and preliminary planning for commercialization. The work under this agreement is on schedule and on budget, and the LNMO materials have met phase one and two metrics for performance and economics.
Co-Development Agreement with CBMM (Framework Cooperation Agreement)
On May 6, 2021, the Company announced the execution of an advanced lithium-ion battery cathode materials coating development agreement with CBMM, the global leader in the production and commercialization of niobium products and technologies. The objective of the agreement is to optimize Nano One's patented One-Pot process for nickel rich cathode materials using niobium from CBMM as a coating. Niobium is a key element in the advancement of lithium-ion battery cathode materials as it can be made to form a coating on the outer surface of each grain of a cathode powder.
Joint Development Agreement with Johnson Matthey
On June 3, 2021, the Company announced the execution of a joint development agreement with Johnson Matthey a global leader in sustainable technologies. Under this agreement the companies will co-develop next generation products and processes for Johnson Matthey's eLNO® family of nickel-rich advanced cathode materials using Nano One's patented One-Pot process and coated nanocrystal technology, for the low-cost, low-carbon footprint production of high-performance lithium-ion battery cathode materials. The agreement will focus on developing materials, methods of production and a detailed commercialization study for pre-pilot, pilot and scaled up manufacturing.
Graduation to the Toronto Stock Exchange
On June 8, 2021, the Company's common shares commenced trading on the TSX under the new symbol "NANO" and ceased trading on the TSX-V.