# Nano One Awarded $10 million from Sustainable Development Technology Canada
Author:  Pal Sinha, Barnali 
Author URL: https://financedigest.com/author/pal-sinha-barnali
Published: 2023-02-14
Category: TECHNOLOGY
Category URL: https://financedigest.com/category/technology
Meta Title: Nano One Receives £10M Support From SDTC for LFP Project
Meta Description: Nano One® Materials Corp. receives $10 million in non-dilutive support from SDTC to fast-track conversion of LFP plant to pilot One-Pot Process.
URL: https://financedigest.com/nano-one-awarded-10-million-from-sustainable-development-technology-canadahtml

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**Vancouver, Canada (TSX: NANO) (OTC: NNOMF) (Frankfurt: LBMB)**

$10 million in non-dilutive support from SDTC helps:

- Fast track and convert North America’s only LFP plant to pilot Nano One’s One-Pot Process.
- Leverage high-quality acquisition of LFP plant and amplifies expansion plans.
- [Accelerate strategic growth and offtake opportunities with consortium partners](https://www.financedigest.com/venom-foundation-and-hub71-partner-to-accelerate-growth-and-adoption-of-blockchain-technologies-from-abu-dhabi.html "Venom Foundation and Hub71 Partner to Accelerate Growth and Adoption of Blockchain Technologies from Abu Dhabi") Rio Tinto, Lithion Battery Inc., and undisclosed auto OEM.
- Clear a path to industrial scale piloting, demo commercial production and revenues.
- Maximize shareholder value, support cleantech innovation and enhance security of supply.

Nano One® Materials Corp. (“Nano One” or the “Company”) is a clean [technology company](https://www.financedigest.com/5-top-tips-on-how-to-grow-a-technology-company.html "5 Top Tips on how to grow a technology company") with patented processes for the low-cost, low-environmental footprint production of highperformance cathode materials used in lithium-ion batteries. Nano One is pleased to announce an award of $10 million in non-dilutive, non-repayable [contributions from Sustainable Development](https://www.financedigest.com/3-impactful-ways-that-leaders-can-contribute-to-the-independent-development-of-their-employees.html "3 Impactful Ways that Leaders Can Contribute to the Independent Development of Their Employees") Technology Canada (“SDTC”). These funds will support the conversion of Nano One’s recently acquired Candiac [facility to the patented One-Pot Process](https://www.financedigest.com/li-cycle-to-build-french-battery-processing-facility.html "Li-Cycle to build French battery processing facility") for industrial-scale pilot production of lithium iron phosphate (LFP). SDTC’s [continued support](https://www.financedigest.com/adnami-appoints-burnett-and-bukholt-to-support-continued-expansion.html "Adnami appoints Burnett and Bukholt to support continued expansion") has been an important contribution to Nano One’s success and will accelerate the LFP piloting while advancing the plan towards commercial operations.

The SDTC project also includes financial support for the design, construction, and operation of a multi-cathode piloting hub (MCPH) to help customize and advance Nano One’s One-Pot and metal-direct-to-CAM (M2CAM®) processes for the industrial scale pilot production of next-gen LFP, NMC and LNM cathode active materials (CAM). These processes are being developed independently by Nano One and jointly with global cathode partners1,2 and various automotive collaborators for future licensing, joint venture and independent production opportunities. Nano One will lead the project with valuable contributions from consortium partners Rio Tinto, Lithion Battery Inc., and an undisclosed automotive OEM3.

_“These funds will help us fast track the conversion of North America’s only LFP plant to Nano One’s patented One Pot Process,”_ said Nano One CEO Mr. Dan Blondal. _“This will showcase world-class_ _cathode materials, made right here in Canada, and differentiated on a [global scale by driving down costs](https://www.financedigest.com/september-tropical-cyclones-cost-global-economy-more-than-4bn-according-to-aon-catastrophe-report.html "September tropical cyclones cost global economy more than bn, according to Aon catastrophe report"), energy intensity and environmental footprint. It will enable joint development, industrial scale piloting and customer validation of LFP, NMC and LNM CAM, and it will help accelerate licensing and offtake while shortening the journey to revenue, full-scale commercial demonstration and wide-scale expansion. This aligns well with Nano One’s mission to maximize shareholder value, create prosperity in Canada, and secure supply chains for the North American lithium-ion [battery ecosystems](https://www.financedigest.com/volkswagen-to-partner-on-indonesia-ev-battery-ecosystem-minister.html "Volkswagen to partner on Indonesia EV battery ecosystem -minister"). It does so by leveraging our recent acquisition in Candiac, and by setting the [stage for high-quality resilient](https://www.financedigest.com/2021-predictions-operational-resilience-takes-center-stage.html "2021 Predictions: Operational Resilience Takes Center Stage") business opportunities that will promote steady growth into the future.”_

This project is named _Pre-Commercial Trial and Multi Cathode Piloting Hub,_ will be multi-phase, multi-year and milestone driven. This follows two other successful Nano One SDTC projects4,5 which assisted in demonstrating the One-Pot process at small pilot scale production volumes and advanced the technology to this point of pre-commercial trials. This project also leverages Nano One’s recent high-value acquisition of the Johnson Matthey6 LFP business in Candiac, Québec, Canada, on November 1, 2022. It amplifies the [opportunity for global LFP business](https://www.financedigest.com/challenger-banks-missing-golden-opportunity-to-steal-business-from-competitors-by-repeating-same-old-mistakes.html "Challenger Banks Missing Golden Opportunity To Steal Business From Competitors By Repeating Same Old Mistakes") expansion and is further validated by the support of the federal government and the project’s industrial consortium partners. Nano One’s project in Candiac is further enhanced by a team with deep [technology commercialization experience](https://www.financedigest.com/how-is-modern-technology-shaping-our-in-store-experience.html "How Is Modern Technology Shaping Our In Store Experience?"), scale-up knowhow and automotive quality CAM production expertise, all led by a seasoned executive team.

_Mr. Blondal added, “We thank SDTC, the Government of Canada and our consortium members for their continued support. It adds strength for Nano One and our valued shareholders as we pursue the advancement and commercialization of our technology. We are aligned with government in creating [supply chains](https://www.financedigest.com/how-to-bring-immediacy-back-to-the-supply-chain-with-faster-payments.html "How to Bring Immediacy Back to the Supply Chain With Faster Payments") that are competitive, resilient, and differentiated with minimal waste, cost, energy, water usage and security issues. Our Candiac facility will be a launchpad for a new generation of scalable cathode materials and sustainable supply chains.”_

Leah Lawrence, CEO of SDTC, commented, _“As the global electric vehicle (EV) market continues to grow, ensuring a reliable supply of EV batteries is essential to Canada’s economic competitiveness. Nano One’s innovative cathode active materials (CAM) manufacturing process will ensure a cleaner and efficient battery supply chain here at home in Canada and North America as well. SDTC is proud to continue our support for Nano One as it enters its next stage of growth.”_

Minister Francois-Philippe Champagne, Minister of ISED, said, _“Canada is [moving aggressively to seize](https://www.financedigest.com/exclusive-binance-moved-346-million-for-seized-crypto-exchange-bitzlato-data-show.html "Exclusive-Binance moved 6 million for seized crypto exchange Bitzlato, data show") the economic opportunities from critical minerals mining, refining, and manufacturing. We are committed to leveraging our competitive advantages—abundance of critical minerals, skilled labour, clean energy, proximity to markets—to achieve this goal. Canada’s innovation ecosystem is another key advantage, and we must harness revolutionary [technologies that drive innovation](https://www.financedigest.com/latam-airlines-reduces-cost-per-user-by-83-thanks-to-innovative-ad-technology.html "LATAM Airlines reduces Cost Per User by 83% thanks to innovative ad technology") in this space. To that end, we’re proud to support Nano One as they change the way battery materials are made, reducing the cost and environmental footprint of [electric vehicle batteries](https://www.financedigest.com/battery-swapping-spurs-kenyas-electric-motorbike-drive.html "Battery swapping spurs Kenya’s electric motorbike drive"), and advancing made-in-Canada innovation.”_

The company looks forward to presenting further details as it executes on its vision, strategic initiatives and plans in 2023.

1. 2022 05 31 [– https://nanoone.ca/news/news-releases/nano-one-and-basf-enter-into-a-joint-development-agreement-for-lithium-ionbattery-materials/](https://nanoone.ca/news/news-releases/nano-one-and-basf-enter-into-a-joint-development-agreement-for-lithium-ion-battery-materials/)
2. 2022 12 22 [– https://nanoone.ca/news/news-releases/nano-one-and-umicore-enter-into-joint-development-agreement-for-batterymaterials-process-technology/](https://nanoone.ca/news/news-releases/nano-one-and-umicore-enter-into-joint-development-agreement-for-battery-materials-process-technology/)
3. 2020 12 18 [– https://nanoone.ca/news/news-releases/nano-one-enters-into-a-cathode-evaluation-agreement-with-major-globalautomotive-company/](https://nanoone.ca/news/news-releases/nano-one-enters-into-a-cathode-evaluation-agreement-with-major-global-automotive-company/)
4. 2019 09 30 [– https://nanoone.ca/news/news-releases/nano-one-receives-1-181-944-from-sdtc/](https://nanoone.ca/news/news-releases/nano-one-receives-1-181-944-from-sdtc/)
5. 2022 08 23 [– https://nanoone.ca/news/news-releases/nano-one-receives-c-1.8m-towards-sdtc-milestone-4-and-granted-2-patents/](https://nanoone.ca/news/news-releases/nano-one-receives-c-1.8m-towards-sdtc-milestone-4-and-granted-2-patents/)
6. 2022 10 01 [– https://nanoone.ca/news/news-releases/nano-one-announces-closing-of-candiac-acquisition-from-johnson-matthey-andappoints-denis-geoffroy-as-chief-commercialization/](https://nanoone.ca/news/news-releases/nano-one-announces-closing-of-candiac-acquisition-from-johnson-matthey-and-appoints-denis-geoffroy-as-chief-commercialization/)

**About Sustainable Development Technology Canada**

At SDTC, we support companies attempting to do extraordinary things.

From initial funding to educational support and peer learning to market integration, we are [invested in helping our small and medium-sized businesses grow into successful](https://www.financedigest.com/large-investment-success-for-basingstoke-cybersecurity-start-up.html "Large investment success for Basingstoke cybersecurity start-up") companies that employ Canadians from coast to coast to coast. We are relentlessly focused on supporting our companies to grow and scale in an increasingly competitive marketplace.

The innovations we fund help solve some of the world’s most pressing environmental challenges: climate change, regeneration through the circular economy, and the well-being of humans in the communities they live in and the natural environment they interact with.

**About Rio Tinto**

Rio Tinto is a mining and metals company operating in 35 countries [around the world](https://www.financedigest.com/around-the-world-in-mobile-payments.html "Around the world in mobile payments") that produces the materials essential to human progress. It aims to help pioneer a more sustainable future, from partnering in the development of technology that can make the aluminum smelting process entirely free of direct GHG emissions, to providing the world with the materials it needs – such as copper and titanium – to build a new low-carbon economy and products like electric vehicles and smartphones.

Rio Tinto has a long history in Québec, Canada where it operates significant aluminium, iron and titanium businesses. Rio Tinto is building a leading battery materials business, with three lithium projects in development across the United States, Argentina and Serbia.

**About Lithion Battery**

Lithion is a vertically integrated manufacturer of cells and rechargeable and non-rechargeable battery modules and packs serving the industrial, medical, robotic, military / defense and energy end-markets.

Lithion works closely with original equipment manufacturers and end users to [provide high-quality power solutions for critical](https://www.financedigest.com/keysource-to-provide-critical-facilitiesmanagement-support-for-leeds-city-council.html "KEYSOURCE TO PROVIDE CRITICAL FACILITIESMANAGEMENT SUPPORT FOR LEEDS CITY COUNCIL") applications where reliability is paramount. Working closely with customers while producing Lithium Iron Phosphate and other lithium-ion cells and battery modules and packs out of Lithion’s North American based manufacturing operations, allows the Company to reliably deliver product to customers – [products which are controlled by highly customizable battery management](https://www.financedigest.com/understanding-management-theories-and-maximising-productivity.html "Understanding management theories and maximising productivity") systems. Highly differentiated product coupled with reliable supply allows Lithion to provide the electrification solutions customers require.

**About Nano One®**

Nano One Materials Corp (Nano One) is a clean [technology company](https://www.financedigest.com/how-financial-services-companies-can-successfully-utilise-low-code-and-no-code-technologies.html "How financial services companies can successfully utilise low-code and no-code technologies") with a patented, scalable and low carbon intensity industrial process for the low-cost production of high-performance lithium-ion battery cathode materials. It employs approximately 120 people at its [innovation and commercialization hubs](https://www.financedigest.com/setsquared-helps-turn-basingstoke-into-the-souths-next-tech-and-innovation-hub.html "SETsquared helps turn Basingstoke into the South’s next tech and innovation hub") in British Columbia and Québec, including the only LFP plant and production team in North America. It has strategic collaborations and partnerships, that include Rio Tinto, BASF, Umicore, CBMM and various automotive OEMs.

Nano One’s technology is applicable to electric vehicles, energy storage, consumer electronics and next generation [batteries in the global push](https://www.financedigest.com/in-renewed-push-spain-to-tender-eu-funds-for-evs-batteries-in-july.html "In renewed push, Spain to tender EU funds for EVs, batteries in July") for a zero-emission future. Its One-Pot process, its coated single crystal materials, and its Metal to Cathode Active Material (M2CAM®) technologies [address fundamental performance needs](https://www.financedigest.com/if-the-nation-backs-fintech-we-need-to-address-a-few-things.html "If the nation backs FinTech, we need to address a few things") and supply chain constraints; they also reduce equipment and raw material costs, operating expenses, and carbon intensity; and they eliminate a significant waste stream for a much-improved environmental footprint.

The Company aims to pilot and demonstrate its [technology as turn-key CAM production solutions](https://www.financedigest.com/peppermint-technology-revamps-communications-with-via-voice-solution.html "PEPPERMINT TECHNOLOGY REVAMPS COMMUNICATIONS WITH VIA VOICE SOLUTION") for license, joint venture and independent production opportunities. This leverages Canadian talent, critical minerals, renewable energy, and a thriving ecosystem with access to large emerging markets in North America, Europe and the Indo-Pacific region. Nano One has received funding from the SDTC, Government of Canada and Government of British Columbia.

For more information, please visit [**www.nanoone.ca**](http://www.nanoone.ca/)

**Company Contact:** Paul Guedes info@nanoone.ca

(604) 420-2041


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