
TSX:NANO)(OTC PINK:NNOMF)(Frankfurt:LBMB
Q3 2023 Highlights and Headlines
Nano One® Materials Corp.® Materials Corp. (TSX: NANO) (OTC: NNOMF) (Frankfurt: LBMB) (“Nano One” or the “Company”) 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, wishes to remind shareholders about the upcoming annual general meeting (“AGM”) to be held on Thursday June 29, 2023 at 1:30pm Pacific Time.
Materials for the AGM were mailed to shareholders of record the week of June 5, 2023, and may also be found on the website at https://nanoone.ca/investors/agm/ and on SEDAR at www.sedar.com. Shareholder votes must be received by 1:30pm Pacific time on June 27, 2023. Your feedback and your vote are important, regardless of the number of shares you own. You can vote by proxy at the AGM, and by proxy on the internet, by phone or by fax as per the instructions included in the meeting materials. If you have not received your materials yet, please contact your bank of financial institution directly to relay you voting instructions, or if your shares are held in your name, please contact the Company at info@nanoone.ca for assistance.
Letter to Shareholders
In advance of the AGM, management has issued a Letter to Shareholders which outlines their outlook on the accomplishments of the past year as well as their vision and evaluation of the Company looking forward to 2024. The Letter will be available to all stakeholders on the Company’s website at: https://nanoone.ca/shareholder-letter-2023/, and filed on SEDAR.
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 and in the Letter to Shareholders 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: successful current and future collaborations that are/may happen with OEM’s, miners or others; the functions and intended benefits of Nano One’s technology and products; the development of Nano One’s technology and products; the purpose for expanding the Candiac facilities and scalability of developed technology; and the execution of Nano One’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: the advancement and completion of the phase 3 work program and any anticipated results thereof, any future collaborations that may happen with the OEM’s or other partners in the battery supply chain, the Company’s ability to achieve its stated goals, the ability to execute on opportunities fueled by the Inflation Reduction Act (IRA), the commercialization of the Company’s technology and patents 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.
TSX:NANO)(OTC PINK:NNOMF)(Frankfurt:LBMB
Q3 2023 Highlights and Headlines
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 nine months ended September 30, 2023 ("Q3 2023") and is pleased to provide the following highlights from Q3 2023.
Corporate Milestones and Developments for Q3 2023
Strategic Investment and Collaboration Agreement with Sumitomo Metal Mining
On October 5, 2023, nano one and Sumitomo Metal Mining Co., Ltd. ( "SMM", together with nano one, the "Companies") closed a transaction whereby the Companies agreed to a strategic equity investment in nano one by SMM of approximately $17,000,000 and entered into a collaboration agreement under which the Companies will work together to accelerate the commercial production of lithium iron phosphate ("LFP"), cathode active materials ("CAM") and nickel-rich CAM chemistries, such as lithium nickel manganese cobalt oxide ("NMC"). SMM is a leading vertically integrated miner, refiner and producer of CAM.
nano one issued a total of 5,498,355 common shares (the "Shares"), representing approximately 5% of the current issued and outstanding Shares of nano one, at $3.07 per Share ($16,879,950) in a non-brokered private placement.
nano one intends to use the proceeds principally towards the conversion of its existing Candiac LFP manufacturing facility to a One-Pot production scale pilot plant, nickel and manganese-rich engineering, and piloting activities, and for working capital purposes.
Pre-Feasibility Study of One-Pot LFP Production Lines Completed
On October 23, 2023, the Company announced the completion of its Front-End Loading (FEL) 2 pre-feasibility study with Hatch Ltd., which estimates that the capacity for a One-Pot LFP production line is 12,500 tonnes per annum ("tpa") and that two such lines (25,000 tpa) could be built within a 167,000 sq. ft. building, making it more efficient in size, footprint, and capital cost than other commercial methods of making LFP.
nano one is actively exploring site locations for its expansion plans, including but not limited to its existing site in Candiac, Québec, and is engaged with governments in various jurisdictions where access to financial incentives and technology attraction programs could further increase shareholder value and stakeholder interests.
LFP from Commercial Size Reactors and Customer Samples Delivered
On September 14, 2023, the Company announced that recent One-Pot trials in the existing reactors at the Candiac plant have produced LFP at commercial scale with performance results consistent to lab scale. nano one has leapfrogged to full commercial size reactors and its LFP can be shipped to select customers for evaluation.
With nano one's existing commercial reactors, it has continued to optimize trials in the existing commercial scale reactors, reproducing lab and development results. This demonstrates the One-Pot process can scale to commercial volumes and advances the de-risking of the technology at commercial scale. This rapid advancement allows commercial scale LFP samples to be sent to qualified customers, for thorough evaluation and validation for the purposes of entering binding offtake agreements.
Q3 2023 Financial Position and Results
Annual budgeting planning activities are underway, with a base shelf prospectus to be filed following standard company governance practices to fund expansion plans.
For a more detailed discussion of nano one's interim Q3 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 Sumitomo Metal Mining, 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 current and future business and strategies; estimated future working capital, funds available, and uses of funds, future capital expenditures and other expenses for commercial operations; results of the FEL 2 pre-feasibility study and timely completion of the FEL 3 study; industry demand; potential offtake commitments; projected revenue generation; ability to obtain employees, consultants or advisors with specialized skills and knowledge; joint development programs; 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 and optimization 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 the Candiac facilities; the scalability of developed technology to meet expanded capacity; access to skilled labour, permits, and provincial and municipal utilities; and the execution of the Company's stated plans - which are contingent on access to capital 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 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.
News Provided by ACCESSWIRE via QuoteMedia
Highlights:
TSX:NANO)(OTC PINK:NNOMF)(Frankfurt:LBMB) nano one® Materials Corp. ("nano one" or the "Company") a clean technology company with patented processes for the production of lithium-ion battery cathode materials is pleased to announce the completion of its Front-End Loading (FEL) 2 pre-feasibility study with Hatch Ltd, which estimates that nano one could add 25,000 tonnes per annum ("tpa") of lithium iron phosphate (LFP) production capacity to its Candiac property, potentially making it significantly more efficient in size, footprint, and capital cost than other commercial methods of making LFP
" The study anticipates that the optimal production line capacity for One-Pot LFP is 12,500 tonnes per year, " stated Dan Blondal, CEO, " and that two such lines may fit in a 167,000 square foot facility at our Candiac site. Capacity could be added in 2 stages to synchronize with demand, supporting about 12.5 gigawatt hours of LFP cell manufacturing and increasing our capacity by 10x with only a 2x increase in footprint, when compared to the existing 2,400 tonne facility. This is a leap forward for our One-Pot process made possible by fewer units of operation, high efficiency kilns and by eliminating all wastewaters, by-products, and treatment thereof.
"The land and water use implications alone add significant value to the One-Pot Process and bolster our strategic objectives to engineer, package and license low cost, low footprint LFP production plants, for rapid turnkey deployment with partners in North America, Europe, Japan and other regions. "
Image 1.nano one FEL2 pre-feasibility study anticipates a 25,000 tpa Commercial LFP Plant in Candiac, Québec.
The FEL 2 study is at the prefeasibility stage and defines (a) the potential production line size, (b) the optimal plant size for nano one's site in Candiac, Québec, and provides (c) operating cost estimates and (d) Association for the Advancement of Cost Engineering (AACE) class 4 estimates of the capital cost. Cost estimates are based on equipment quotes from various major vendors, installation factors, indirect costs, and best practices in engineering, procurement, and construction management (EPCM). Specifics on cost are commercially sensitive and held in confidence to allow the company to engage effectively in product pricing discussions with customers. LFP sample evaluation with customers is underway, with the goal of securing offtake commitments and building out production capacity to suit.
nano one is actively engaged with governments, not only in Québec, but also in other jurisdictions where access to financial incentives and technology attraction programs could further increase shareholder value and stakeholder interests.
Based on the FEL 2 pre-feasibility study and subsequent Economic Impact Assessment conducted by the Institut de la Statistique du Québec, it was determined that the project has the potential to create 149 direct, full-time highly skilled jobs and 1065 indirect jobs. In addition, the project has the potential to generate tax revenues for the Governments of Québec and Canada of approximately $35 million during construction and over $17 million annually when at full capacity. It could generate roughly $450 million in economic activity in Québec in the first five years.
Denis Geoffroy, CCO added, " The proposed facility could potentially supply Gigafactories announced in the US and Canada, creating new opportunities all while helping jurisdictions source local feedstock and meet GHG reduction targets."
The FEL 2 study relies on a process design basis from January 2023. Subsequent to this, nano one has identified further potential cost reductions from its full-scale trials and fast-tracking results, as disclosed on September 14, 2023. These anticipated improvements will be factored into an FEL 3 feasibility study, improving project capital and operating costs and energy usage. The FEL 3 study is out for tender and anticipated to kick off in November 2023 and conclude Q3 2024.
Alex Holmes, COO commented, "The FEL 3 study will define a stand-alone facility for expansion purposes, optimal financing, sighting, and joint venture opportunities. Timing of the study is aligned with the execution of our roadmap, as disclosed on April 24, 2023 and is synchronized with project finance, government funding, customer support and further strategic investment activities. Following the closing of our deal with Sumitomo Metals Mining, nano one is in a strong cash position with approximately $41 million in cash and cash equivalents. We continue to execute on our plans and look forward to meeting our milestones on the path to commercialization. "
As previously disclosed, Sumitomo Metals Mining made an equity investment of C$16.9M in nano one on October 5, 2023, and entered into a collaboration agreement to support the piloting and commercial adoption of nano one's sulphate-free LFP and NMC CAM. This is complementary to nano one's existing joint development programs with Rio Tinto, BASF, Umicore and Our Next Energy, in its bid to expand and address CAM markets in North America, Europe and the Indo-Pacific region that are projected to reach approximately 2.7 million tons of NMC and 3 million tons of LFP by 2035, for an LFP market value of approximately $48 billion and a combined total market value of approximately $146 billion. i
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 Sumitomo Metal Mining, 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 current andfuture business and strategies; estimated future working capital, funds available, and uses of funds, future capital expenditures and other expenses for commercial operations; results of the FEL 2 pre-feasibility study and timely completion of the FEL 3 study; industry demand; potential offtake commitments; projected revenue generation; ability to obtain employees, consultants or advisors with specialized skills and knowledge; joint development programs; 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 and optimization 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 the Candiac facilities; the scalability of developed technology to meet expanded capacity; and the execution of the Company's stated 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 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.
Hatch disclaims any and all liability arising out of, or in connection with, any third party's use of, or reliance upon, information contained in this press release and the use of this information by any third party is at the risk of that party. The following items were excluded from the project scope of the Hatch project: offsite infrastructure and services; utility connections including water, gas and power; all services are assumed to be available at the site boundary; storage facility for effluent or solid residue are assumed to be discharged to environment or managed/stored by a third party; costs of environmental and ecology related studies; no allowance for study costs (feasibility studies prior to detailed engineering/execution); land acquisitions and associated work land; schedule acceleration costs; schedule delays and associated costs, such as those caused by force majeure; permit applications; forward escalation beyond the estimate base date; government levies and taxes; sustaining capital costs; detailed owner's costs; and tailings or effluent impoundment costs.
[i] Demand data from Benchmark Mineral Intelligence Q2 2023 Lithium Ion Battery Database, pricing assumes the prior 6 months' average from Benchmark's 2023 Monthly Cathode Assessments.
SOURCE: nano one materials corp.
News Provided by ACCESSWIRE via QuoteMedia
TSX:NANO)(OTC PINK:NNOMF)(Frankfurt:LBMB)(TSE:5713
nano one® Materials Corp. ("Nano One" or the "Company"), a clean technology company with patented processes for the sustainable production of lithium-ion battery cathode materials, is pleased to announce the closing of the strategic equity investment and collaboration with Sumitomo Metal Mining Co. Ltd ("SMM", together with nano one, the "Companies"), a leading vertically integrated miner, refiner and producer of cathode active materials ("CAM"), announced on September 25, 2023. SMM made an equity investment of C$16,879,949.85 and the Companies entered into a collaboration agreement (the "CA") under which they will work together to accelerate the commercial production of lithium iron phosphate ("LFP"), CAM and nickel-rich CAM chemistries, such as lithium nickel manganese cobalt oxide ("NMC").
Investment and Collaboration
SMM purchased by way of private placement, 5,498,355 common shares (the "Shares") of nano one at a price of C$3.07 per share for a total investment into nano one of C$16,879,949.85 (the "Private Placement"). The Shares issued under the Private Placement equate to approximately 5% of the current issued and outstanding Shares of nano one.
The CA involves various aspects primarily centered on supporting the development of battery ecosystems, with a particular focus on LFP and NMC production using the One-Pot process. The collaboration will support technical product optimization for both LFP and NMC, as well as efforts to mitigate supply chain risks. These joint efforts are intended to strengthen and progress the development, design, construction, and operation of nano one's proposed LFP production scale pilot plant, the piloting of nickel- and manganese-rich CAMs, and nano one's first LFP commercial plant.
Additionally, the Companies will look to explore business development opportunities, including future sales and technology licensing, forging long term partnerships and identifying potential investment and financing opportunities to expand operations. In the pursuit of these shared business objectives, the Companies intend to exchange relevant market information and technical expertise to improve the quality and cost of CAM produced by the One-Pot process at the Candiac facilities to meet SMM customer requirements.
The Company intends to use this investment principally towards the conversion of its existing Candiac LFP manufacturing facility to a One-Pot production scale pilot plant, nickel- and manganese-rich engineering, and piloting activities, and for working capital purposes.
Together with the closing of the Private Placement and the CA, the Company entered into an investor rights agreement (the "IRA") whereby the Company granted SMM a participation right in any future equity financings to maintain its pro rata ownership interest for a period of up to three (3) years. Under the IRA, SMM has agreed to a standstill provision that, among other things, restricts SMM's ability to purchase additional shares without nano one's consent for a period of 24 months and restricts SMM's ability to sell the Shares for 12 months, subject to certain exemptions. In addition the Shares are subject to a restricted hold period of four months and a day under applicable Canadian securities legislation
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined in the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
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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. nano one 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
About Sumitomo Metal Mining
Sumitomo Metal Mining Co., Ltd. (SMM) dates back to 16th Century Copper Mining and Processing in Japan. SMM is an integrated producer covering from mineral resources development, smelting & refining, to the production of battery materials and functional materials. By connecting the core businesses, it has advantages in sustainable value chains. SMM has expertise, deep knowledge and many years of experience in producing various types of precursor cathode active material/cathode active material and aims to increase the production capacity of cathode materials (nickel CAM and LFP) from approximately 60,000 tonnes per annum currently to 180,000 tonnes per annum by 2030.
For more information, please visit https://www.smm.co.jp/en/
Company Contact:
nano one:
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 development of technology, supply chains, and plans for construction and operation of cathode production facilities; successful collaboration with SMM; industry demand; successful current and future collaborations that are/may happen with OEM's, miners or others; the functions and intended benefits of nano one's technology and products; the development of nano one's technology and products; achieving commercial production of LFP and pilot scale production of NMC at the Candiac facility; nano one's licensing, supply chain, joint venture opportunities and potential royalty arrangements; the purpose for expanding the Candiac facilities and scalability of developed technology; and the execution of nano one'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', ‘encouraged', ‘projected', ‘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 nano one 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 nano one's business plans; the development of technology, supply chains, and plans for construction and operation of the Candiac facility; industry demand; successful current or future collaborations that may happen with OEM's, miners or others; the execution of nano one's plans which are contingent on support and grants; nano one's ability to achieve its stated goals; the commercialization of nano one's technology and patentsvia 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 nano one which are available at www.sedar.com. Although management of nano one 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. nano one 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.
News Provided by ACCESSWIRE via QuoteMedia
TSX:NANO)(OTC:NNOMF)(Frankfurt:LBMB) and Tokyo, Japan (TSE:5713
Highlights:
Nano One® Materials Corp. ("Nano One") is a clean technology company with patented processes for the sustainable production of lithium-ion battery cathode materials, and Sumitomo Metal Mining Co., Ltd. ("SMM", together with nano one, the "Companies") is a leading vertically integrated miner, refiner and producer of cathode active materials ("CAM") with over 400 years of experience. The Companies are pleased to announce that they have agreed to a strategic equity investment in nano one by SMM of C$16,879,949.85 and to enter into a collaboration agreement (a "Collaboration Agreement") under which the parties will work together to accelerate the commercial production of lithium iron phosphate ("LFP"), CAM and nickel-rich CAM chemistries, such as lithium nickel manganese cobalt oxide ("NMC").
"This announcement builds on years of technology development and CAM production by both Sumitomo Metal Mining and Nano One Materials," said nano one CEO, Dan Blondal, "and it expresses our joint ambitions to develop and lead world class battery ecosystems and long-term partnerships in the production of LFP and NMC cathode materials. Sumitomo Metal Mining is a world class leader, having pioneered nickel-rich cathode active materials for long range electric vehicle battery applications. We are proud to be partnered with such a reputable and deeply experienced organization and to be jointly addressing emerging market demand in Japan, North America and other global regions."
For over 400 years, SMM has been mining, smelting, refining, and processing metals with a large and diverse customer base that includes nickel-rich cathode materials for lithium-ion battery and electric vehicle producers in recent years. In 2022, SMM expanded their CAM product portfolio to include LFP and have chosen to collaborate and partner with nano one to accelerate its efforts.
nano one has plans to build its first commercial LFP plant adjacent to its existing production scale pilot facility in Candiac, Québec, and is nearing completion of a Front-End Loading Pre-Feasibility Study ("FEL-2") that will help determine key factors including costs, production line size, total capacity and timing. The Companies believe LFP is an important battery material that will capture a significant portion of the market in the years ahead, and that it can be produced responsibly and cost effectively in North America, Japan, and other jurisdictions using technology and know-how from both organizations.
Katsuya Tanaka, Managing Executive Officer, General Manager of Battery Material Division of SMM stated, "nano one has proven LFP production experience and has demonstrated that their latest technology works at scale, their materials perform, and their costs are competitive. nano one is also aligned with our belief that less waste and energy intensive CAM production technology is one of the most important keys to contribute to developing EV markets. This is particularly important in Japan, North America, and other emerging markets where the race to meet net-zero goals and establish battery supply chains is just beginning. We are excited to be working with nano one."
Strategic Equity Investment
SMM will make a strategic equity investment into nano one for gross proceeds of C$16,879,949.85. On closing, nano one will issue a total of 5,498,355 common shares (the "Shares"), representing approximately 5% of the current issued and outstanding Shares of nano one, at C$3.07 per Share in a non- brokered private placement. nano one intends to use the proceeds principally towards the conversion of its existing Candiac LFP manufacturing facility to a One-Pot production scale pilot plant, nickel- and manganese-rich engineering, and piloting activities, and for working capital purposes.
In connection with the closing of the investment, nano one and SMM will enter into an investor rights agreement, providing SMM with participation rights in any future equity financings to maintain pro rata ownership interest for a period of up to three years from the date of closing. Under the agreement, SMM will agree to a standstill provision that, among other things, restricts SMM's ability to purchase additional shares without nano one consent for a period of 24 months and restricts SMM's ability to sell the Shares for 12 months, subject to certain exemptions.
The Shares will be subject to hold period of four months and a day under applicable Canadian securities law. Closing is subject to certain customary closing conditions, including the approval of the Toronto Stock Exchange (the "Exchange"). nano one expects closing to occur within 30 days.
Strategic Collaboration Agreement
SMM and nano one will enter into a Collaboration Agreement on closing of the investment that will encompass various aspects primarily centered on supporting the development of battery ecosystems, with a particular focus on LFP and NMC production using the One-Pot process. The collaboration will support technical product optimization for both LFP and NMC, as well as efforts to mitigate supply chain risks. These joint efforts are intended to strengthen and progress the development, design, construction, and operation of nano one's proposed LFP production scale pilot plant, the piloting of nickel- and manganese-rich CAMs, and nano one's first LFP commercial plant.
Further, the Companies will jointly explore business development opportunities, including future sales and technology licensing, forging long term partnerships and identifying potential investment and financing opportunities to expand operations. In the pursuit of these shared business objectives, the Companies intend to exchange relevant market information and technical expertise to improve the quality and cost of CAM produced by the One-Pot process at the Candiac facilities to meet SMM customer requirement.
Being the first CAM producing investor in nano one, SMM has taken a leadership position in seeking to transform the battery materials supply chain for electric vehicle, industrial and renewable energy storage applications. SMM's investment builds on past investments in nano one from mining companies and governments and could accelerate LFP adoption, demand and business opportunities for the Companies. In the future, the Companies intend to evaluate and negotiate a longer-term partnership in the form of a joint-venture and/or a licensing agreement for large scale production of LFP, NMC and other CAM formulations using nano one's One-Pot process in Asia (excluding China) and other global jurisdictions such as Europe, North America and the Indo-Pacific region.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "US Securities Act") or any state securities laws and may not be offered or sold within the United States or to US Persons (as defined in the US Securities Act) unless registered under the US Securities Act and applicable state securities laws or an exemption from such registration is available.
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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. nano one 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
About Sumitomo Metal Mining
Sumitomo Metal Mining Co., Ltd. (SMM) dates back to 16th Century Copper Mining and Processing in Japan. SMM is an integrated producer covering from mineral resources development, smelting & refining, to the production of battery materials and functional materials. By connecting the core businesses, it has advantages in sustainable value chains. SMM has expertise, deep knowledge and many years of experience in producing various types of precursor cathode active material/cathode active material and aims to increase the production capacity of cathode materials (nickel CAM and LFP) from approximately 60,000 tonnes per annum currently to 180,000 tonnes per annum by 2030.
For more information, please visit https://www.smm.co.jp/en/
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 closing of the financing and related transaction, the approval by the Exchange for the financing; the development of technology, supply chains, and plans for construction and operation of cathode production facilities; successful collaboration with SMM; industry demand; successful current and future collaborations that are/may happen with OEM's, miners or others; the functions and intended benefits of nano one's technology and products; the development of nano one's technology and products; achieving commercial production of LFP and pilot scale production of NMC at the Candiac facility; nano one's licensing, supply chain, joint venture opportunities and potential royalty arrangements; the purpose for expanding the Candiac facilities and scalability of developed technology; and the execution of nano one'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', ‘encouraged', ‘projected', ‘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 nano one 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 nano one's business plans; the development of technology, supply chains, and plans for construction and operation of the Candiac facility; industry demand; successful current or future collaborations that may happen with OEM's, miners or others; the execution of nano one's plans which are contingent on support and grants; nano one's ability to achieve its stated goals; the commercialization of nano one'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 nano one which are available at www.sedar.com. Although management of nano one 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. nano one 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.
News Provided by ACCESSWIRE via QuoteMedia
TSX:NANO)(OTC PINK:NNOMF)(Frankfurt:LBMB
Highlights:
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. The Company is pleased to report that One-Pot trials over the past few months in the existing reactors at the Candiac plant have produced lithium iron phosphate (LFP) at commercial scale with performance results consistent to lab scale. nano one has leapfrogged to full commercial size reactors and its LFP can be shipped to select customers in Q4 for evaluation. Additionally, the 200 tonne per annum (tpa) reactors have been installed and optimization is underway for scale-up.
"We are ready to send qualified LFP materials to our partners for evaluation at tonne scale from our commercial scale reactors." said nano one's Chief Commercialization Officer Mr. Denis Geoffroy, "These reactors performing are an important milestone in our commercialization strategy, to provide tonne scale samples to strategic partners and boost the confidence in our technology's scalability. I am very proud of our team who achieved these results in a very short timeframe."
2,000 tpa Commercial Reactors [existing]:
nano one has continued to optimize trials in the existing commercial scale reactors, reproducing lab and development results. This demonstrates the One-Pot process can scale to commercial volumes and advances the de-risking of the technology at commercial scale. This rapid advancement allows commercial scale LFP samples to be sent to qualified customers, ahead of schedule, for thorough evaluation and validation for the purposes of entering binding offtake agreements for both the existing Candiac plant and the first full commercial line to be built next door. Optimization will continue and the results have helped identify key processing parameters and will expedite the commercial scale-up process.
Successful repeatable LFP trials in the existing commercial scale reactors will lead to an accelerated refurbishment of the plant to automatize the use of the existing reactors for the One-Pot process. This will enable continuous production capabilities up to 2,000 tpa level toward the end of 2024.
200 tpa Pilot Reactors [new]:
In parallel, the team has continued to work on the reception, installation, and commissioning of the 200 tpa One-Pot reactors. These reactors will provide important information to improve the processes and support validation in a cost-effective manner as the Company continues to innovate. They also allow nano one to have a baseline automated production capacity of 200 tpa, ready to deliver to customers once they have validated the product.
"The experience of our team has been invaluable in achieving these important milestones." said Alex Holmes, COO, "Working concurrently with both the 200 tpa reactors and existing commercial scale reactors has fast tracked our commercialization efforts. We are setting the foundation for growth that can secure market share and enhance shareholder value. This couldn't have been achieved without the unwavering dedication of our team and showcases the amazing talent we have at nano one."
"Being ahead of schedule and producing high-quality LFP cathode material is what we needed to fast-track nano one's progression to profitability." said Andrew Muckstadt, VP Business Development, "While attending The Battery Show in Novi Michigan this week, we are able to talk to select customers about taking orders and potentially supplying them with LFP for their business plans in the future. As major players are still determining their supply chain and partners, we are demonstrating we have a viable product that can be produced in North America and replicated around the world."
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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; incurrence of costs; competitive conditions; general economic conditions; the intention to grow the business, operations, revenues 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, supply chains and products; results of trials and optimization for scale up to commercial production; current and future collaboration engineering, and optimization research projects; plans for construction, scale-up and operation of a multi cathode piloting hub; the successful and timely commencement of a commercialization phase; successful validation of LFP products; prospective partnerships with customers and the anticipated benefits of the Company's partnerships; the purpose for expanding its facilities; and the acceleration and 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.
News Provided by ACCESSWIRE via QuoteMedia
In an increasingly eco-conscious global market, Carbonxt makes a compelling investment case, leveraging a growing addressable market driven by regulatory changes and strategic partnerships. This addressable market is anticipated to grow substantially with the introduction of new regulations targeting PFAS and other environmental contaminants.
Activated carbon, derived from materials like coconut husks and coal, is a critical tool for filtering contaminants from air and water. Its effectiveness comes from a unique oxidation process that creates a vast network of microscopic pores, dramatically increasing surface area. This versatility makes activated carbon essential across industries, including healthcare, agriculture, oil and gas, and food processing.
For large-scale industrial applications, activated carbon is available in powdered, pellet, and granular forms, with prices ranging from US$2,000 to US$6,000 per tonne—presenting a significant market opportunity.
Carbonxt Group (ASX:CG1) is positioned to capitalize on this demand. As an innovative manufacturer of custom activated carbon, Carbonxt has expanded its reach through a partnership with US-based Kentucky Carbon Processing, forming the joint venture NewCarbon. This partnership enhances Carbonxt’s market potential and strengthens its gross margins.
A key driver of Carbonxt’s growth is its new Inez Power Activated Carbon Plant in Kentucky, which focuses on water treatment—a sector set for transformation due to new US regulations targeting PFAS contamination. PFAS, so-called "forever chemicals," persist in water, soil and even human bodies, with links to serious health issues like cancer, thyroid disease and developmental disorders.
The EPA’s Clean Water Act and the Bipartisan Infrastructure Deal allocate $10 billion to combat PFAS pollution, forcing water utilities to upgrade their filtration systems. Carbonxt’s specialized activated carbon solutions are designed to meet this demand. Through NewCarbon, the company is repurposing a waste-to-energy plant into an advanced activated carbon facility, significantly expanding its production capacity.
With 50,000 water utilities across the US accounting for half the granular activated carbon market, Carbonxt is strategically positioned to challenge industry incumbents and reshape the sector.
In addition to the Kentucky facility, Carbonxt has two more production facilities in the US: the Black Birch Powdered Activated Carbon Facility in Georgia and the Arden Hills Pelletization Plant in Minnesota. These facilities have a combined current total capacity of 13,500 tons per annum. The company plans to expand this capacity to 43,500 tonnes per annum by 2027.
Carbonxt designs specialized activated carbon products for its customers, which consist primarily of industrial sector organizations and power utilities. Available in pellet and powder form, the company's oxidizing, non-brominated activated carbons are non-corrosive and designed to remain efficient throughout their entire lifecycle. Although Carbonxt’s origin and listing is in Australia, its products are manufactured and distributed exclusively within the United States.
Carbonxt is currently focused on developing an activated carbon manufacturing facility in Kentucky, the result of a joint partnership with Kentucky Carbon Processing. Once this facility is operational, water utility companies are expected to form a much larger part of its customer base. The facility is also expected to re-invigorate the company's industrial pellet market sales.
Highlights:
Carbonxt operates three U.S.-based production facilities, each specializing in a key segment of the activated carbon market.
Inez Power Activated Carbon Plant (Kentucky) – The newest and most advanced facility, producing 6,000 tons annually (expanding to 10,000 tons). Designed for granular and pelletized activated carbon, this plant boasts a 99 percent PFOA removal rate, positioning Carbonxt for dominance in PFAS removal and the liquid-phase filtration market—which is twice the size of the air-phase market.
Black Birch Powdered Activated Carbon Facility (Georgia) – Produces 6,000 tons annually (expanding to 10,000 tons), specializing in wood-based powdered activated carbon for industrial applications, including MatsPAC, AquaPAC and CEMPAC product lines.
Arden Hills Pelletization Plant (Minnesota) – Focuses on pelletized wood and lignite carbons, primarily for mercury removal and emissions control. Currently producing 7,500 tons, with key products NAQ-ACP and CTC-ACP.
Dr. David Mazyck is a world-leading expert on activated carbon (AC) and its applications including mercury capture. He has developed AC products for major multinational AC manufacturers and has regularly consulted them on technical issues. Mazyck is the former chairman of the Activated Carbon Standards Committee for the American Waterworks Association and has developed products for NASA.
He received his PhD in environmental engineering from Penn State University, where he also earned a PhD minor in fuel science.
Matthew Driscoll has significant experience across several industries, including online technologies, financial services, fintech, cleantech, property and resources. He has more than 30 years’ experience in capital markets and the financial services industry and is an accomplished company director in roles across listed and private companies.
He has significant experience in international business growth, mergers and acquisitions, equity and debt raisings and building strategic alliances. His current directorships include NED Energy Technologies, NED Blina Minerals, NED Eco Systems, and NED Smoke Alarms Holdings.
Warren Murphy has led a large number of acquisitions and financings across the energy, resources and infrastructure sectors. This includes the development of over 2,000 MW of Greenfields power stations and the acquisition of over 3,000 MW of generation assets.
He was co-head of the Australian Infrastructure & Project Finance Group and Head of Energy at Babcock & Brown based in the Sydney office and led the development of Babcock & Brown’s energy sector capability in Australia and New Zealand, including the founding of Infigen Energy and its unlisted predecessor, Global Wind Partner, where he served as a director from inception until June 2009.
Murphy was also a director of the ASX-listed Alinta and Sydney Gas, as well as the unlisted Coogee Resources.
Imtiaz Kathawalla was a vice-president at NYSE-listed Cabot Corporation, a global specialty chemical company where he had a 27-year career. Kathawalla's most recent position with Cabot Corporation was as general manager of Cabot's purification solutions division. He ran the group's US$300-million global activated carbon business where he oversaw a material increase in EBITDA before managing the sale of the business to a large private equity group.
Nicholas Andrews has held the role of executive chairman and CEO at Magontec (ASX:MGL), an established business in the global magnesium sector. He is a member of the executive committee and serves on the board of the International Magnesium Association. Prior to his executive career, Andrews held several senior roles in the financial services sector across both investment management and investment banking.
CoTec Holdings Corp. (TSXV:CTH)(OTCQB:CTHCF) ("CoTec" or the "Company") is pleased to announce that it has updated its investor presentation to reflect the significant progress the Company has made in the execution of its strategy.
Investors can access the presentation on the Company's website at: https://cotec.ca/_resources/presentations/corporate-presentation.pdf?v=032602
Julian Treger, CoTec CEO commented; "We continue to make significant progress towards our goal of having two cash flow generating assets by H1 2027. If successful, this will be a remarkable achievement compared to conventional mining where cash flow generation often takes more than fifteen years. The Company is trading at a significant discount to its indicative value and closing this value gap is one of our key focus areas. We believe that the successful execution of our strategy will result in a material re-rating of our Company, offering shareholders a superior return on their investment."
About CoTec
CoTec is a publicly traded investment issuer listed on the Toronto Venture Stock Exchange ("TSX- V") and the OTCQB and trades under the symbol CTH and CTHCF respectively. CoTec Holdings Corp. is a forward-thinking resource extraction company committed to revolutionizing the global metals and minerals industry through innovative, environmentally sustainable technologies and strategic asset acquisitions. With a mission to drive the sector toward a low-carbon future, CoTec employs a dual approach: investing in disruptive mineral extraction technologies that enhance efficiency and sustainability while applying these technologies to undervalued mining assets to unlock their full potential. By focusing on recycling, waste mining, and scalable solutions, the Company accelerates the production of critical minerals, shortens development timelines, and reduces environmental impact. CoTec's strategic model delivers low capital requirements, rapid revenue generation, and high barriers to entry, positioning it as a leading mid-tier disruptor in the commodities sector.
For further information, please contact:
Braam Jonker - (604) 992-5600
Forward-Looking Information Cautionary Statement
Statements in this press release regarding the Company and its investments which are not historical facts are "forward-looking statements" which involve risks and uncertainties, including management's expectations with respect to other current and potential future investments and the benefits to the Company which may be implied from such statements. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements, due to known and unknown risks and uncertainties affecting the Company, including but not limited to resource and reserve risks; environmental risks and costs; labor costs and shortages; uncertain supply and price fluctuations in materials; increases in energy costs; labor disputes and work stoppages; leasing costs and the availability of equipment; heavy equipment demand and availability; contractor and subcontractor performance issues; worksite safety issues; project delays and cost overruns; extreme weather conditions; and social and transport disruptions. For further details regarding risks and uncertainties facing the Company please refer to "Risk Factors" in the Company's filing statement dated April 6, 2022, a copy of which may be found under the Company's SEDAR profile at www.sedar.com. The Company assumes no responsibility to update forward-looking statements in this press release except as required by law. Readers should not place undue reliance on the forward-looking statements and information contained in this news release and are encouraged to read the Company's continuous disclosure documents which are available on SEDAR at www.sedarplus.ca.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Toyota Motor (NYSE:TM) reinforced its commitment to hydrogen at the 2025 Hydrogen and Fuel Cell Seminar, laying out a roadmap for expanding its fuel cell technology across multiple industries.
Toyota executives used the event to highlight the company’s latest advancements in hydrogen-powered solutions, emphasizing their role in heavy-duty transport, power generation and industrial applications.
“We are collaborating with companies that would traditionally have been our competition to develop standards for hydrogen fueling connections and protocols, recognizing that an industry standard was of greater benefit than our own competitive advantage,” said Jay Sackett, chief engineer of advanced mobility, in his opening remarks at the event.
Toyota has long promoted a diversified strategy to cut emissions, integrating hybrid, plug-in hybrid, battery electric and fuel cell electric vehicles (FCEVs). While much attention has been on battery electric vehicles, Toyota remains firm in its belief that hydrogen fuel cells will play a critical role, particularly in sectors where battery solutions face limitations.
Heavy-duty trucking stands out as one of those key areas. Toyota highlighted its Tri-gen system at the Port of Long Beach, a first-of-its-kind facility developed in partnership with FuelCell Energy.
The plant converts renewable biogas into hydrogen, while also generating electricity and water as by-products. Capable of producing 1,200 kilograms of hydrogen daily, the system helps fuel a growing fleet of hydrogen-powered trucks.
“There are as many as 20,000 opportunities every day to clean up the air with hydrogen fuel cell-powered trucks,” Sackett said, referring to the number of diesel-powered heavy-duty truck routes in the Long Beach and Los Angeles port areas.
FCEV trucks offer several advantages over their diesel counterparts, including zero emissions, rapid refueling and the ability to match traditional payload capacities. While battery-electric trucks require lengthy charging times, fuel cell models can refuel in just 15 to 20 minutes, significantly improving uptime for drivers.
The company’s hydrogen ambitions extend beyond the road — Toyota has also been developing fuel cell-based power solutions at its North American Hydrogen Headquarters (H2HQ) in Gardena, California.
At the seminar, General Manager of Fuel Cell Solutions Thibaut de Barros Conti shared examples of hydrogen applications beyond vehicles that Toyota is pursuing. A Toyota fuel cell generator is already in use as a backup power source for a hospital in the Pacific Northwest, offering a clean alternative to diesel generators.
In addition, a mobile hydrogen-powered generator, built into a Toyota Tundra for motorsports and event use, powered the Hot Cocoa Village and Santa’s Workshop at Detroit’s Christmas tree lighting ceremony last year.
On a larger scale, Toyota’s hydrogen fuel cells are being used in a 1 megawatt power-generation system at the National Renewable Energy Lab in Colorado. The company is also incorporating fuel cells into a future microgrid at H2HQ.
Despite its progress, Toyota acknowledged that hydrogen still faces hurdles, particularly in infrastructure development. Fueling station availability is limited, particularly outside California, which is home to most of the US hydrogen network.
“This has not been an easy road,” de Barros Conti said, “but it is the right road.”
De Barros Conti emphasized Toyota’s efforts to close the infrastructure gap, noting that recent US policy shifts supporting hydrogen production could accelerate station deployment. New incentives for hydrogen production and refueling networks aim to expand accessibility, making FCEVs a more viable option nationwide.
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Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
Northvolt, once hailed as Europe's battery manufacturing champion, has filed for bankruptcy in Sweden after failing to secure the financial support necessary to continue operations.
The company cited multiple factors for its collapse in a Wednesday (March 12) release, including rising capital costs, geopolitical instability, supply chain disruptions and shifting market demand.
The bankruptcy represents a significant setback for Europe's ambitions to establish a competitive battery sector against industry giants in China and South Korea. Northvolt had positioned itself as a cornerstone of European energy independence, aiming to build a vertically integrated supply chain for electric vehicle (EV) batteries.
As part of the bankruptcy process, a Swedish court-appointed trustee, Mikael Kubu, will oversee the company's affairs, including the sale of its assets and the settlement of its obligations.
The filing includes several key entities under the Northvolt umbrella, including Northvolt AB, Northvolt Ett AB, Northvolt Labs AB, Northvolt Revolt AB and Northvolt Systems AB.
Northvolt Germany and Northvolt North America have not filed for bankruptcy in their respective jurisdictions; their future will be determined by the Swedish trustee in consultation with the company's lenders.
Northvolt expressed disappointment in the bankruptcy outcome and pledged to work closely with authorities, trade unions and partners to ensure employees receive necessary support during the transition.
In an email, Evan Hartley, research manager at Benchmark Mineral Intelligence, described the bankruptcy as a severe blow to European efforts to challenge Asia's dominance in the battery sector.
"Launched with initial hopes for 170 gigawatt hours (GWh) of capacity in Europe, three plants, and full integration of cathode and precursor production, their plans had hit multiple roadblocks in the past few years," he wrote.
“A wider market of LFP demand growth, plummeting cell prices, and the general difficulty in producing cells were the final nails in the coffin for the Northvolt project,” Hartley added.
Despite its financial collapse, Northvolt was able to achieve several milestones.
It ramped up production at its Skellefteå plant, where cell output from serial production lines had doubled, and secured a 50 percent improvement in production yield since September. The company also delivered its first 1 million battery cells to a European customer, produced entirely with fossil-free energy.
Tom Johnstone, interim chair of Northvolt’s board of directors, reflected on the company's journey and the broader implications of its failure in Wednesday's press release:
"This is an incredibly difficult day for everyone at Northvolt. We set out to build something groundbreaking — to drive real change in the battery, EV, and wider European industry and accelerate the transition to a green and sustainable future."
Johnstone emphasized that Northvolt’s work has laid a strong foundation for Europe's battery industry, despite the company's inability to survive in its current form.
"For me personally, it remains key for Europe to have a homegrown battery industry, but it is a marathon to build such an industry. It needs patience and long-term commitment from all stakeholders," he said.
The bankruptcy raises questions about Europe’s future battery production capacity. Data from Benchmark Mineral Intelligence indicates that while Northvolt had originally planned to contribute 170 GWh of battery capacity in Europe across multiple plants, broader market conditions had already begun reshaping the sector.
Statista figures show that Europe’s planned capacity for battery production is still expected to grow, rising from 191.4 GWh in 2024 to 1,160.3 GWh by 2030. Northvolt’s exit leaves a gap in this trajectory, with competitors like Contemporary Amperex Technology (SZSE:300750) and LG Energy Solution (KRX:373220) likely to fill the void.
Additionally, the demand shift toward lithium iron phosphate batteries and the general downward trend in battery prices have made large-scale battery production a challenging business.
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Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
CoTec Holdings Corp. (TSXV: CTH; OTCQB: CTHCF) (“CoTec”) and Mkango Resources Ltd. (AIM/TSX-V: MKA) (“Mkango”) are pleased to announce that HyProMag USA LLC (“HyProMag USA”) will expand the upcoming detailed design phase of its U.S. permanent magnet recycling and manufacturing project (the “Project”) to include three HPMSi vessels.
In addition, and concurrently, HyProMag USA will begin conceptual studies to evaluate further expansion to triple the capacity of the Project, versus that envisaged in the Feasibility Study, across the Project footprint of Fort Worth, Texas (“Texas Hub”), South Carolina and Nevada as well as integrated USA development of long loop chemical processing, which is complementary to the HPMS short-loop process. Long-loop chemical processing is used to process any material not suitable for short-loop recycling as well as swarf generated from magnet finishing. HyProMag USA is targeting to supply 10% of U.S. domestic demand for NdFeB magnets within five years of commissioning.ii
The November 2024 base case Feasibility Study (the “Feasibility Study”)iii, which was based on two HPMS vessels, indicated a NPV7% of US$262iv million based on current market pricesv,vi and US$503 million based on forecast pricesvii. With the inclusion of the third HPMS vessel for an incremental capital cost of circa US$7 million, the Feasibility Study indicated a NPV7% of US$279 million based on current market prices and US$593 million based on forecast prices.
Julian Treger, CoTec CEO commented: “The potential expansion of HyProMag USA is compelling from a value perspective as the modular design of the production hubs is expected to allow for significant upfront cost savings and optimization opportunities could result in even higher returns than the strong economics shown by the Feasibility Study. Additionally, it will also play a key role in supporting the US strategy of reshoring manufacturing capability, reducing dependance on foreign magnets and rare earths.
The increased production capacity could also allow the flexibility to produce a wider range of products and specialist magnets, further improving both financial returns and the company’s ability to become a supplier of choice.”
Will Dawes, Mkango CEO commented:“The HyProMag USA Feasibility Study highlighted the strong economics of the Project, with significant opportunities for further expansions, coupled with ancillary developments to add value, broaden the product suite and strengthen the competitive positioning.”
The Feasibility Study included the Texas Hub, and two pre-processing facilities located in South Carolina and Nevada respectively. It is envisaged that additional expansion capacity and downstream development could be added at either the Texas Hub and / or the two pre-processing facilities, which will be evaluated during the concept studies, as well as the potential to process additional primary feed if required to initially support the expansion. The modular nature of the production design should allow duplication with limited design adjustments and should benefit from the construction and ramp-up learnings of the Texas Hub, and commissioning of the UK and Germany operations. With the increased production capacity, the Project will generate additional NdFeB co-products suitable for long loop chemical processing. The opportunity to develop an integrated long loop chemical processing plant will also be evaluated during the concept studies.
Both long-loop and short-loop recycling technologies are underpinned by the HPMS technology, which liberates magnets from end-of-life scrap streams in a cost effective and energy efficient way to produce a recycled NdFeB alloy powder, which is manufactured into a magnet (via the short loop process) or into a rare earth carbonate or oxide (via the long loop chemical process). In March 2025, HyProMag USA announced the results of an independent ISO-Compliant product carbon footprint study which confirmed an exceptionally low CO2 footprint of 2.35 kg CO2 eq. per kg of NdFeB cut sintered block product.viii
The Texas Hub’s annual production with a third HPMS vessel will be 750 metric tons per annum of recycled sintered NdFeB magnets and 807 metric tons per annum of associated NdFeB co-products (total payable capacity – 1,557 metric tons NdFeB within five years of commissioning) over a 40 year operating life. It is expected that the third reactor will provide the Texas Hub with significant optionality to supply the U.S. market with additional NdFeB alloy powder. The detailed design will further incorporate debottlenecking and optimization of the three existing magnet lines at the proposed Texas Plant.
Ownership
HyProMag USA is owned 50:50 by CoTec and HyProMag Limited. HyProMag Limited is 100 per cent owned by Maginito Limited (“Maginito”), which is owned on a 79.4/20.6 per cent basis by Mkango and CoTec.
About HyProMag
HyProMag is commercializing HPMS recycling technology in the UK, Germany and United States. HyProMag is also evaluating other jurisdictions, and in mid-2024 launched a collaboration with Envipro on rare earth magnet recycling in Japan. HPMS technology was developed at the Magnetic Materials Group (MMG) at University of Birmingham, underpinned by approximately US$100 million of research and development funding, and has major competitive advantages versus other rare earth magnet recycling technologies, which are largely focused on chemical processes but do not solve the challenges of liberating magnets from end-of-life scrap streams – HPMS provides this solution.
About CoTec Holdings Corp.
CoTec is a publicly traded investment issuer listed on the Toronto Venture Stock Exchange ("TSX- V") and the OTCQB and trades under the symbol CTH and CTHCF respectively. CoTec Holdings Corp. is a forward-thinking resource extraction company committed to revolutionizing the global metals and minerals industry through innovative, environmentally sustainable technologies and strategic asset acquisitions. With a mission to drive the sector toward a low-carbon future, CoTec employs a dual approach: investing in disruptive mineral extraction technologies that enhance efficiency and sustainability while applying these technologies to undervalued mining assets to unlock their full potential. By focusing on recycling, waste mining, and scalable solutions, the Company accelerates the production of critical minerals, shortens development timelines, and reduces environmental impact. CoTec’s strategic model delivers low capital requirements, rapid revenue generation, and high barriers to entry, positioning it as a leading mid-tier disruptor in the commodities sector.
For more information, please visit www.cotec.ca.
About Mkango Resources Ltd.
Mkango is listed on the AIM and the TSX-V. Mkango’s corporate strategy is to become a market leader in the production of recycled rare earth magnets, alloys and oxides, through its interest in Maginito Limited (“Maginito”), which is owned 79.4 per cent by Mkango and 20.6 per cent by CoTec, and to develop new sustainable sources of neodymium, praseodymium, dysprosium and terbium to supply accelerating demand from electric vehicles, wind turbines and other clean energy technologies.
Maginito holds a 100 per cent interest in HyProMag and a 90 per cent direct and indirect interest (assuming conversion of Maginito’s convertible loan) in HyProMag GmbH, focused on short loop rare earth magnet recycling in the UK and Germany, respectively, and a 100 per cent interest in Mkango Rare Earths UK Ltd (“Mkango UK”), focused on long loop rare earth magnet recycling in the UK via a chemical route.
Maginito and CoTec are also rolling out HPMS recycling technology into the United States via the 50/50 owned HyProMag USA LLC joint venture company.
Mkango also owns the advanced stage Songwe Hill rare earths project and an extensive rare earths, uranium, tantalum, niobium, rutile, nickel and cobalt exploration portfolio in Malawi, and the Pulawy rare earths separation project in Poland. Mkango has signed a letter of Intent with Crown PropTech Acquisitions to list the Songwe Hill and Pulawy rare earths projects on NASDAQ via a SPAC Merger.
For more information, please visit www.mkango.ca
Market Abuse Regulation (MAR) Disclosure
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ('MAR') which has been incorporated into UK law by the European Union (Withdrawal) Act 2018. Upon the publication of this announcement via Regulatory Information Service, this inside information is now considered to be in the public domain.
Cautionary Note Regarding Forward-Looking Statements
This news release contains forward-looking statements (within the meaning of that term under applicable securities laws) with respect to Mkango and CoTec. Generally, forward looking statements can be identified by the use of words such as “plans”, “expects” or “is expected to”, “scheduled”, “estimates” “intends”, “anticipates”, “believes”, or variations of such words and phrases, or statements that certain actions, events or results “can”, “may”, “could”, “would”, “should”, “might” or “will”, occur or be achieved, or the negative connotations thereof. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will not occur, which may cause actual performance and results in future periods to differ materially from any estimates or projections of future performance or results expressed or implied by such forward-looking statements. Such factors and risks include, without limiting the foregoing, the successful conclusion of the MDA, the availability of (or delays in obtaining) financing to develop Songwe Hill, the Recycling Plants being developed by Maginito in the UK, Germany and the US (the “Maginito Recycling Plants”), the results of the Feasibility Study and the Pulawy Separation Plant, governmental action and other market effects on global demand and pricing for the metals and associated downstream products for which Mkango is exploring, researching and developing, geological, technical and regulatory matters relating to the development of Songwe Hill, the ability to scale the HPMS and chemical recycling technologies to commercial scale, competitors having greater financial capability and effective competing technologies in the recycling and separation business of Maginito and Mkango, availability of scrap supplies for Maginito’s recycling activities, government regulation (including the impact of environmental and other regulations) on and the economics in relation to recycling and the development of the Maginito Recycling Plants, and the Pulawy Separation Plant and future investments in the United States pursuant to the proposed cooperation agreement between Maginito and CoTec, the outcome and timing of the completion of the feasibility studies, cost overruns, complexities in building and operating the plants, and the positive results of feasibility studies on the various proposed aspects of Mkango’s, Maginito’s and CoTec’s activities. The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company and CoTec disclaim any intention and assume no obligation to update or revise any forward-looking statements, whether because of new information, future events or otherwise, except as required by applicable law. Additionally, the Company and CoTec undertake no obligation to comment on the expectations of, or statements made by, third parties in respect of the matters discussed above.
For further information on CoTec, please contract:
CoTec Holdings Corp.
Braam Jonker
Chief Financial Officer
braam.jonker@cotec.ca
Canada: +1 604 992-5600
For further information on Mkango, please contact:
Mkango Resources Limited
William Dawes
Chief Executive Officer
will@mkango.ca
Canada: +1 403 444 5979
www.mkango.ca
@MkangoResources
Alexander Lemon
President
alex@mkango.ca
SP Angel Corporate Finance LLP
Nominated Adviser and Joint Broker
Jeff Keating, Jen Clarke, Devik Mehta
UK: +44 20 3470 0470
Alternative Resource Capital
Joint Broker
Alex Wood, Keith Dowsing
UK: +44 20 7186 9004/5
The TSX Venture Exchange has neither approved nor disapproved the contents of this press release. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This press release does not constitute an offer to sell or a solicitation of an offer to buy any equity or other securities of the Company in the United States. The securities of the Company will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") and may not be offered or sold within the United States to, or for the account or benefit of, U.S. persons except in certain transactions exempt from the registration requirements of the U.S. Securities Act.
The global biofuels market was valued at US$64.06 billion in 2024 and is anticipated to reach US$106.02 billion in 2034. Despite previous dips, the outlook for the biofuels industry and US biofuel stocks is positive.
The driving forces behind rising demand for biofuels include the goal of reducing the carbon footprint of transport industries, as well as factors such as a growing need for alternatives to foreign oil and enhanced cost-competitiveness and efficiency of biofuel production technology.
The US is the largest biofuels-producing country in the world by far.
"Capacity at U.S. producers of renewable diesel and other biofuels totaled 4.3 billion gal/y in January 2024, 1.3 billion gallons more per year than in 2023. Fuel ethanol—primarily produced from corn kernel starch and blended with gasoline—accounts for most of U.S. biofuels production capacity," states the US Energy Information Administration.
Not surprisingly, the corn field state of Iowa is by far the leader in biofuels production in the nation, followed by agricultural powerhouses Nebraska and Illinois.
For investors interested in the biofuel industry, here are the 6 top US biofuels stocks by market cap. All figures are from TradingView’s stock screener and were current as of market close on March 5, 2025. Read on to learn more about these biofuels companies and their operations.
Market cap: US$644.36 million
REX American Resources has interests in six ethanol production facilities that together have the capacity to produce 730 million gallons of ethanol. The company is the majority owner of two of these facilities, One Earth Energy in Illinois and NuGen Energy in South Dakota, which combine for capacity of 300 million gallons. It is also a minority owner of holding company Big River Resources, which has four production plants across Iowa, Illinois and Wisconsin.
REX is advancing its expansion campaign at its ethanol production facility at the One Earth Energy facility, which will increase annual ethanol production capacity from 150 million gallons to 175 million gallons. The company expects to complete the expansion in mid-2025. REX is also planning to obtain permits to further expand the facility to an annual production capacity of 200 million gallons.
Market cap: US$444.44 million
Montauk Renewables is a US renewable energy company specializing in the recovery and conversion of biogas derived from landfill methane into renewable natural gas (RNG) or electrical power for the electrical grid. The company has 14 operating projects and ongoing development projects located in California, Idaho, Ohio, Oklahoma, Pennsylvania, North Carolina, South Carolina and Texas.
For its fiscal year 2024, Montauk’s RNG revenues are expected to come in at between US$175 million and US$185 million, while its renewable electricity revenues are expected to be between US$17 million and US$18 million. Its full year results will be available in mid-March.
Market cap: US$407.88 million
OPAL Fuels is another renewable energy company that specializes in capturing and converting biogas into RNG. The company’s fully integrated vertical waste-to-energy model takes biogas from landfills and dairies to create fuel for use in heavy- and medium-duty trucking fleets, as well as renewable power for sale to utilities.
In late February 2025, the company announced a series of 50/50 joint venture partnerships to develop four new landfill RNG production projects. OPAL's share represents 1.5 million MMBtu of aggregate annual design capacity.
Market cap: US$316.02 million
Gevo is a renewable chemicals and next-generation biofuels company with headquarters in Colorado. Gevo produces isobutanol, ethanol and high-value animal feed at its fermentation plant in Minnesota. Over in Texas, it operates a biorefinery that converts alcohols into products ranging from renewable jet fuel to octane and even ingredients for plastics.
Gevo owns and operates one of the largest dairy-based RNG facilities in the United States and operates an ethanol plant with an adjacent carbon capture and sequestration facility.
In February 2025, Gevo announced a partnership with French energy company Axens “to accelerate development and commercialization of sustainable aviation fuel (SAF) using the ethanol-to-jet (ETJ) pathway.” Gevo is currently developing the world's first ethanol-to-jet SAF commercial production facility, Net-Zero 1, which will be located in South Dakota.
Market cap: US$186.87 million
FutureFuel is a developer and producer of diversified chemical products, specialty organic chemicals, premium biodiesel and other biofuels, such as ethanol and biomass solids. FutureFuel launched its biofuels product platform in 2005 and now has a biodiesel production capacity of 60 million gallons per year.
FutureFuels announced a quarterly dividend program for 2025 that will distribute cash dividends of US$0.06 per share, with the first payment of the year on March 18.
Market cap: US$118.58 million
Verde Clean Fuels is a renewable gasoline technology company with projects under development in North America. The company converts biomass feedstocks such as agricultural byproducts into renewable, low-carbon gasoline compatible with standard car engines and refueling stations.
In the past two years, Cottonmouth Ventures LLC, a wholly owned subsidiary of Diamondback Energy (NASDAQ:FANG), has made US$70 million in investments into Verde Clean Fuels, indirectly making the multibillion dollar Texas-based oil and gas company the second largest shareholder of Verde. The most recent came in January 2025.
The two companies are collaborating on developing and constructing natural-gas-to-gasoline plants that will use Verde's technology to convert natural gas from Diamondback's Permian Basin operations.
Biofuel is a type of renewable energy derived from living material known as biomass. Biomass includes algae, as well as plant and animal waste, and examples of biofuels are ethanol, biodiesel, green diesel and biogas. Biofuels can be solid, liquid or gaseous.
Depending on the type of biomass being used, biofuels can be produced in a variety ways.
The typical processes include chemical reactions, dry milling, fermentation and heat to break down starches, sugars and other molecules. The resulting products are then refined to produce the end-product fuel.
Ethanol can be produced from corn, as is common in the US. In Brazil, ethanol is produced from sugarcane.
This is an updated version of an article originally published by the Investing News Network in 2017.
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Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.
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