Nano One Materials Gets $2 Million From SDTC

Nano One Materials (TSXV:NNO) has been approved for a $2.08 million technology commercialization grant from Sustainable Development Technology Canada (SDTC).
As quoted in the press release:

The proceeds will be non-dilutive and non-repayable and they will help fund the design, construction, optimization and demonstration of Nano One’s Demonstration Pilot Plant for the production of lithium ion battery cathode materials.
The pilot plant will be used to showcase Nano One’s patented technology and demonstrate cost, scalability and performance to third party strategic interests. The pilot plant is being designed to produce approximately ten (10) kilogram batches of various lithium ion cathode materials that are strategically important to electric vehicle, grid storage and consumer electronic batteries.

SDTC President and CEO, Leah Lawrence, said:

Sustainable Development Technology Canada is incredibly proud to support Nano One. Our mission is to help Canadian cleantech entrepreneurs move their ground-breaking technologies to commercialization by bridging the funding gap between research and market entry. Nano One’s battery materials pilot plant is the kind of technology that has the potential to generate jobs, growth and export opportunities, and to bring lasting economic, environmental and health benefits to Canadians and the world.

Click here for the full press release.