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TSX:NANO)(OTC PINK:NNOMF)(Frankfurt:LBMB
Highlights:
Nano One Successfully Completes Second SDTC Project Receives Final Contribution of $803,000
- nano one successfully completes its second SDTC funded project.
- Initiated in May 2019, a final contribution of $803K was recently awarded, totalling $8.25M.
- Proceeds were focused on scaling nano one's One-Pot process technology and team, for the production of LFP and NMC materials.
- Funding also accelerated nano one's acquisition of critical equipment, advanced its M2CAM® technology development and validated the cost-competitiveness of its process technologies.
Nano One® Materials Corp. ("Nano One" or the "Company") is a clean technology company with patented processes for the production of lithium-ion battery cathode active materials ("CAM") that enable secure and resilient supply chains by driving down cost, complexity, energy intensity, and environmental footprint. The Company is pleased to report that it has received the final contribution of $803,300 from Sustainable Development Technology Canada ("SDTC") and the Government of British Columbia's Innovative Clean Energy ("ICE") Fund. This completes the Company's second SDTC project and its success led to a third SDTC funded project that was previously announced in February 2023 which is expected to provide an additional $10 million in non-dilutive funding.
Support for nano one's Scaling of Advanced Battery Materials Project was awarded by SDTC in May 2019 and completed in January 2023 with total government contributions of $8.25M, with $5.25M from SDTC and $3M from the ICE Fund, respectively. This final contribution of $803,300 represents a 10% holdback that is awarded once all successful commitments and reporting requirements have been achieved.
"SDTC has been an important contributor to nano one over the years and has been instrumental in propelling us to where we are today," stated nano one's CEO Mr. Dan Blondal. "Their funding for this project provided the means to execute our business plans and aided in securing additional support from the capital markets and from various strategically interested parties. With SDTC and ICE Fund support, we grew our team, added to our portfolio of intellectual property and optimized our processing technology and know-how. We believe we can be cleaner, greener and leaner than the methods used in Asia, while being cost competitive in Canada, North America, Europe and the Indo-Pacific region."
Advancing the Scale of the One-Pot Process
The funded project helped nano one accelerate significant advances in scaling of its One-Pot process for lithium iron phosphate ("LFP"), specifically in preparation for pilot and industrial scale production at its recently acquired facilities in Candiac, Québec. The project enabled 10 kg batches of One-Pot LFP and greater for third party evaluation that have since led to trials in the company's Candiac facility that are exceeding 1000 kg (1 tonne).
Through the course of the project, the team was able to reduce reaction times resulting in cost reduction and improved yield. The team also reduced CAPEX and OPEX associated with the One-Pot process for LFP as compared to existing LFP methods and they developed a comprehensive techno-economic model for LFP, providing confidence for large scale piloting and production activities at its Candiac facility.
The project also supported the development of nano one's innovative metal-to-cathode-active-materials ("M2CAM") technology, that simplifies the supply chain and enables the use of metal powders instead of environmentally problematic metal sulphates. M2CAM aims to eliminate wastewater and waste sulphate, cost effectively, and this is of increasing strategic interest in North America, Europe and other regions where there are environmental standards coupled with the need for tens of millions of tonnes of CAM production.
Kelli Forster, Senior Vice President of People and Culture stated, "The financial support from SDTC and the ICE Fund has enabled us to further attract and retain industry leading experts with science, engineering and business backgrounds. We have the most experienced LFP production team in North America and by pairing this with our innovative culture, we are setting the stage to change how the world makes battery materials. I am proud of our team, and I look forward to its continued growth."
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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 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 Innovative Clean Energy Fund
The Innovative Clean Energy (ICE) Fund is a Special Account, funded through a levy on certain energy sales, designed to support the Province's energy, economic, environmental and greenhouse gas reduction priorities, and to advance B.C.'s clean energy sector. Since 2008, the ICE Fund has committed approximately $110 million to support pre-commercial clean energy technology projects, clean energy vehicles, research and development, and energy efficiency programs. On March 13, 2017, the Province announced a joint call partnership with Sustainable Development Technology Canada to support the development of pre-commercial clean energy projects and technologies.
About nano one®
nano one materials corp. (Nano One) is a clean technology company with a patented, scalable and low carbon intensity industrial process for the low-cost production of high-performance lithium-ion battery cathode materials. With strategic collaborations and partnerships, including automotive OEMs and strategic industry supply chain companies like BASF, Umicore and Rio Tinto. nano one's technology is applicable to electric vehicles, energy storage, and consumer electronics, reducing costs and carbon intensity while improving environmental impact. The Company aims to pilot and demonstrate its technology as turn-key production solutions for license, joint venture, and independent production opportunities, leveraging Canadian talent and critical minerals for emerging markets in North America, Europe, and the Indo-Pacific region. nano one has received funding from SDTC and the Governments of Canada and British Columbia.
For more information, please visit www.nanoone.ca
Company Contact:
Paul Guedes
info@nanoone.ca
(604) 420-2041
Cautionary Notes and Forward-looking Statements
Certain information contained herein may constitute "forward-looking information" and "forward-looking statements" within the meaning of applicable securities legislation. All statements, other than statements of historical fact, are forward-looking statements. Forward-looking information in this news release includes but is not limited to: the results of any milestones achieved within the "Scaling Advanced Battery Materials Project" jointly funded by SDTC and the British Columbia ICE fund; ongoing and any potential future collaborations with SDTC; current and future collaboration engineering, and optimization research projects; the Company's future business and strategies; uses of funds, and future capital expenditures and other expenses for specific operations; industry demand; ability to obtain employees, consultants or advisors with specialized skills and knowledge; incurrence of costs; competitive conditions; general economic conditions; the intention to grow the business, operations and potential activities of the Company; the functions and intended benefits of nano one's technology and products; the development of the Company's technology and products;the commencement of a commercialization phase; prospective partnerships and the anticipated benefits of the Company's partnerships; the Company's licensing, supply chain, joint venture opportunities and potential royalty arrangements; the purpose for expanding its facilities; scalability of developed technology; and the execution of the Company's plans - which are contingent on support and grants. Generally, forward-looking information can be identified by the use of terminology such as 'believe', 'expect', 'anticipate', 'plan', 'intend', 'continue', 'estimate', 'may', 'will', 'should', 'ongoing', ‘target', ‘goal', ‘potential' or variations of such words and phrases or statements that certain actions, events or results "will" occur. Forward-looking statements are based on the current opinions and estimates of management as of the date such statements are made are not, and cannot be, a guarantee of future results or events. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information, including but not limited to: successful completion of the ongoing, and any potential future, collaborations with SDTC, the British Columbia ICE Fund and any of the consortium partners; general and global economic and regulatory changes; next steps and timely execution of the Company's business plans; the development of technology, supply chains, and plans for construction and operation of cathode production facilities; successful current or future collaborations that may happen with OEM's, miners or others; the execution of the Company's plans which are contingent on support and grants; the Company's ability to achieve its stated goals; the commercialization of the Company's technology and patents via license, joint venture and independent production; anticipated global demand and projected growth for LFP batteries; and other risk factors as identified in nano one's MD&A and its Annual Information Form dated March 29, 2023, both for the year ended December 31, 2022, and in recent securities filings for the Company which are available at www.sedar.com. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. The Company does not undertake any obligation to update any forward-looking statements or forward-looking information that is incorporated by reference herein, except as required by applicable securities laws.Investors should not place undue reliance on forward-looking statements.
SOURCE:nano one materials corp.
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Nano One Provides Quarterly Progress Update and Reports Q2 2023 Results
TSX:NANO)(OTC PINK:NNOMF)(Frankfurt:LBMB
Q2 2023 Highlights and Headlines
- Working capital of $30.0 million; cash of $34.4 million
- Completion of Phase Two of Co-Development Agreement with CBMM
- Joint Development Agreement with Our Next Energy (ONE)
- Advancement of Commercial Plans for LFP
- Six new patents issued and allowed in Canada, United States, and Japan
- Proceeds of ~$3.0M from the exercise of stock options
nano one® Materials Corp. ("nano one" or the "Company") is a clean technology company with patented processes for the production of lithium-ion battery cathode materials that enable secure and resilient supply chains by driving down cost, complexity, energy intensity, and environmental footprint. nano one has filed its condensed interim consolidated financial statements (the "financial statements"), and management's discussion & analysis ("MD&A") as at and for the six months ended June 30, 2023 ("Q2 2023") and is pleased to provide the following highlights from Q2 2023.
Corporate Milestones for Q2 2023
Joint Development Agreement with Our Next Energy (ONE)
On June 14, 2023, the Company announced signing a Joint Development Agreement (JDA) with ONE to collaborate on the validation, qualification, and production of a North American supply of lithium iron phosphate (LFP) cathode active materials (CAM). The LFP CAM will be produced at nano one's 200 tpa pilot facility in Candiac, Québec, for validation in ONE's production LFP cells used in its Aries and Gemini batteries, with the goal of a binding offtake agreement and expansion into future production facilities.
Successful Completion of Phase Two of Co-Development Agreement with CBMM
On May 17, 2023, the Company announced the successful completion of phase two of the co-development work with CBMM, the world's leading supplier of Niobium products and technology. Phase two successfully utilized CBMM's Niobium product to make coated nanocrystal high nickel (Ni>90%) NMC cathode active material. Enhanced durability was displayed using nano one's proprietary One-Pot process and Metal to Cathode Active Material (M2CAM®) technology.
This achievement opens new doors of opportunity for the two companies to market and cross-collaborate with their existing customer bases to create market pull both for nano one's patented technology and develop a new market for CBMM's sustainable, high-quality product. This also adds a secure and resilient supply chain partner to Nano's list of qualified automotive supply chain.
Advancement of Commercial Plans for LFP
On July 20, 2023, further to an update provided on April 24, 2023, the Company provided an update on its commercial plans which are aimed at jumpstarting the commercialization of its One-Pot process. To expedite commercial sampling, offtake and first revenues, the Company's Candiac facility in Québec is being retrofitted with its new One-Pot reactors and will be recommissioned initially at 200 tons per annum ("tpa") in Q3 2023, ramping up in steps to 2,000 tpa in 2024, and 10,000 tpa thereafter in a new and adjacent facility.
nano one also has engineering work underway for a separate 100 tpa NMC and LNMO pilot facility. Having piloting capabilities for LFP, NMC and LNMO will enable nano one to prototype, validate, design, and pilot a new generation of CAM and accelerate the commercial adoption of its One-Pot and sulfate-free M2CAM processes in pursuit of production, joint venture and licensing opportunities.
The Company reported that its lithium iron phosphate (LFP) trials, One-Pot reactors, sampling and pilot production plans are being expedited as previously outlined, and that initial engineering plans for its first full scale commercial plant are nearing completion. Nano began successfully producing tonne-sized batches in Q2 2023 using the existing commercial scale equipment. In parallel Nano is installing smaller modular One-Pot reactors, engineered and built in Québec with the aim of conducting smaller trials, evaluating new reactor designs and fast-tracking plans.
Six New Patents Issued and Allowed in Canada, United States, and Japan
nano one also announced significant progress on key technologies with 6 new patents that are approved for issuance, or have issued, in Canada, United States, and Japan, bringing its global total to 33. In large part to ongoing support from Government of Canada programs, nano one continues to extend the Canadian IP landscape and its own protections, all while growing economic activity.
Q2 2023 Financial Position and Results
- Working capital of $30.0 million; cash of $34.4 million
- Total assets of $52.6M (Q1 2023 - $56.9M)
- Total liabilities of $7.4M (Q1 2023 - $7.5M) with no long-term debt
- Net use of cash and cash equivalents of $5.7M
- Proceeds from exercises of stock options ~$3.0M
- Total investment (capitalized and expensed) on at its Candiac plant including equipment, retrofitting, engineering, and expansion totalled $3.4M ($4.3M year-to-date)
For a more detailed discussion of nano one's interim Q2 2023 results, please refer to the Company's financial statements, and MD&A which are available at www.sedar.com.
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About nano one®
nano one materials corp. (nano one) is a clean technology company with a patented, scalable and low carbon intensity industrial process for the low-cost production of high-performance lithium-ion battery cathode materials. With strategic collaborations and partnerships, including automotive OEMs and strategic industry supply chain companies like BASF, Umicore and Rio Tinto. nano one's technology is applicable to electric vehicles, energy storage, and consumer electronics, reducing costs and carbon intensity while improving environmental impact. The Company aims to pilot and demonstrate its technology as turn-key production solutions for license, joint venture, and independent production opportunities, leveraging Canadian talent and critical minerals for emerging markets in North America, Europe, and the Indo-Pacific region. nano one has received funding from SDTC and the Governments of Canada and British Columbia.
For more information, please visit www.nanoone.ca
Company Contact:
Paul Guedes
info@nanoone.ca
(604) 420-2041
Cautionary Notes and Forward-looking Statements
Certain information contained herein may constitute "forward-looking information" and "forward-looking statements" within the meaning of applicable securities legislation. All statements, other than statements of historical fact, are forward-looking statements. Forward-looking information in this news release includes but is not limited to: the Company's future business and strategies; industry demand; anticipated joint development programs; incurrence of costs; competitive conditions; general economic conditions; estimated future working capital, funds available, and uses of funds, and future capital expenditures and other expenses for specific operations; intellectual property protection; industry demand; the functions and intended benefits of nano one's technology and products; the development of the Company's technology, supply chains and products; current and future collaboration engineering, and optimization research projects; plans for construction, scale-up and operation of a multi cathode piloting hub; prospective partnerships and the anticipated benefits of the Company's partnerships; the Company's licensing, supply chain, joint venture opportunities and potential royalty arrangements; the purpose for expanding its facilities; and scalability of developed technology; and the execution of the Company's plans - which are contingent on support and grants. Generally, forward-looking information can be identified by the use of terminology such as 'believe', 'expect', 'anticipate', 'plan', 'intend', 'continue', 'estimate', 'may', 'will', 'should', 'ongoing', ‘target', ‘goal', ‘potential' or variations of such words and phrases or statements that certain actions, events or results "will" occur. Forward-looking statements are based on the current opinions and estimates of management as of the date such statements are made are not, and cannot be, a guarantee of future results or events. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information, including but not limited to: general and global economic and regulatory changes; next steps and timely execution of the Company's business plans; the development of technology, supply chains, and plans for construction, scale-up, and operation of cathode production facilities; achievement of industrial scale piloting, demo commercial production and potential revenues; successful current or future collaborations that may happen with OEM's, miners or others; the execution of the Company's plans which are contingent on support and grants; the Company's ability to achieve its stated goals; the commercialization of the Company's technology and patents via license, joint venture and independent production; anticipated global demand and projected growth for LFP batteries; and other risk factors as identified in nano one's MD&A and its Annual Information Form dated March 29, 2023, both for the year ended December 31, 2022, and in recent securities filings for the Company which are available at www.sedar.com. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. The Company does not undertake any obligation to update any forward-looking statements or forward-looking information that is incorporated by reference herein, except as required by applicable securities laws. Investors should not place undue reliance on forward-looking statements.
SOURCE:nano one materials corp.
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https://www.accesswire.com/773515/Nano-One-Provides-Quarterly-Progress-Update-and-Reports-Q2-2023-Results
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Greenlane Renewables to Announce Second Quarter 2023 Results on August 14, 2023 and Host Conference Call
Greenlane Renewables Inc. (" Greenlane ") (TSX: GRN) (FSE: 52G) intends to announce its 2023 second quarter financial results on Monday, August 14, 2023 after markets close, followed by a conference call at 5:00 PM ET ( 2:00 PM PT ). Representing management will be Brad Douville Chief Executive Officer, and Stephanie Mason Director of Finance. Monty Balderston Chief Financial Officer, will be unavailable due to medical reasons. A question and answer period with analysts will follow brief remarks from management.
The Company also reports that the previously announced appointments of Brad Douville as Executive Vice Chair and Ian Kane as CEO are expected to follow the release of the Company's second quarter financial results.
Live Conference Call
The public is invited to listen to the conference call in real time by telephone. To access the conference call by telephone, please dial: 1-800-319-4610 ( North America toll-free) or 1-604-638-5340. Callers should dial in 5-10 minutes prior to the scheduled start time and ask to join the Greenlane Renewables conference call.
Shortly after the conference call, the replay will be archived on the Greenlane Renewables website and replay will be available in streaming audio and a downloadable audio file.
About Greenlane Renewables
Greenlane Renewables is a pioneer in the rapidly growing renewable natural gas (" RNG ") industry. As a leading global provider of biogas upgrading systems, we are helping to clean up two of the largest and most difficult-to-decarbonize sectors of the global energy system: the natural gas grid and the commercial transportation sector. Our systems produce clean, low-carbon and carbon-negative RNG from organic waste sources such as landfills, wastewater treatment plants and agricultural and food waste streams. To the company's knowledge, Greenlane is the only biogas upgrading company offering and actively deploying the three main technologies: waterwash, pressure swing adsorption, and membrane separation. Greenlane's business has been built on over 35 years of industry experience, patented and proprietary technology, with over 140 biogas upgrading systems sold into 19 countries, including some of the largest RNG production facilities in the world, and over 140 biogas desulfurization units sold. For further information, please visit www.greenlanerenewables.com .
FORWARD LOOKING INFORMATION – This news release contains "forward-looking information" within the meaning of applicable securities laws. All statements contained herein that are not historical in nature contain forward-looking information. Forward-looking information can be identified by words or phrases such as "may", "likely", "could", "plan", "intends to", "will be", "are expected to", "estimate", "believe" or the negative of these terms, or other similar words, expressions and grammatical variations thereof, or statements that certain events or conditions "can", "may" or "will" happen. In particular, this news release contains forward looking information including that the Company intends to announce its 2023 second quarter financial results on Monday, August 14, 2023 after markets close, that the Chief Financial Officer will be unavailable due to medical reasons and that the appointments of the Executive Vice Chair ("EVC") and the Chief Executive Officer ("CEO") are expected to follow the release of the Company's second quarter financial results. The forward-looking information contained herein is made as of the date of this press release and is based on assumptions management believed to be reasonable at the time such statements were made, including that management's plans for issuing its financial results will proceed as anticipated, as well as other considerations that are believed to be appropriate in the circumstances. While management considers these assumptions to be reasonable based on information currently available to management, there is no assurance that such expectations will prove to be correct. By their nature, forward-looking information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, or that assumptions may not be correct. A variety of factors, including known and unknown risks, many of which are beyond the Company's control, could cause actual results to differ materially from the forward-looking information in this press release. Such factors include, without limitation, changes that may occur between the time of this news release and the date planned for the issuance of financial results; changes in the availability of Company officers; and risks identified in the Company's annual information form and in other documents filed with Canadian securities regulatory authorities on the Company's SEDAR profile at www.sedar.com . Readers are cautioned not to put undue reliance on forward-looking information. Actual results may differ materially from those anticipated. The Company undertakes no obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable law. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement.
SOURCE Greenlane Renewables Inc.
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