Nano One (TSXV: $NNO.V) Enhances Pilot Productivity and Files a New Patent
Vancouver, British Columbia - August 2, 2017 (Newsfile Corp.) (Investorideas.com Newswire) Dr. Stephen Campbell, Principal Scientist at Nano One Materials (TSXV: NNO) (FSE: LBMB) (OTC Pink: NNOMF), today announced that Nano One has filed a patent related to yield improvements in its process for the manufacture of lithium metal oxide cathode materials for use in advanced lithium ion batteries.
The process improvements in this patent application have been demonstrated in the lab. Extrapolating the lab results, Nano One anticipates a 100-fold increase in the material throughput of its core technology at the reactor stage of the process. Specifically, the throughput of the existing pilot reactor could be increased from 10 kg/day, as initially conceived, to as high as 1400 kg/day. This yield is in line with current commercial production rates of cathode materials ranging from 1,000 to 10,000 kg/day. The remaining process steps are readily scalable to support the design of a full-scale plant. From industry reports, Nano One estimates that the global addressable market for cathode materials is approximately 500,000 kg/day.
"These innovations move our pilot sized reactor into the range of full scale production," explained Dr. Campbell, "and demonstrate a clear path to a 10,000 kg/day plant. The resulting reduction in capital expenses lowers the barrier to commercial adoption and makes Nano One's technology even more attractive to industrial interests. It builds on innovations announced earlier and marks our fifth patent application since this time last year."
Nano One has been testing productivity concepts for some time in the lab. The pilot was designed and built to accommodate these concepts and demonstration of the elevated throughputs is expected this year. The technology was developed under a collaboration agreement between Nano One, NORAM Engineering and Constructors Ltd and BC Research Inc. Under the agreement, Nano One is assigned right, title and interest in arising intellectual property and accordingly a patent application has been filed with the U.S. Patent Office.
Nano One CEO Dan Blondal said that "The throughput of our pilot reactor is significantly more compelling than originally anticipated and we look forward to discussing the reduced cost implications with a growing network of commercial interests. We'd like to acknowledge the team at Nano One for their dedication and know-how throughout the pilot program and thank NORAM and BC Research for their engineering expertise and innovations."
Nano One would also like to thank Innovation, Science and Economic Development Canada for their ongoing support of the pilot plant project and these technology developments through both Sustainable Development Technology Canada and the Automotive Supplier's Innovation Program.
Nano One Materials Corp.
Dan Blondal, CEO
For information with respect to Nano One or the contents of this news release, please contact John Lando (President) at (604) 669-2701 or visit the website at www.nanoone.ca.
About Nano One:
Nano One Materials Corp ("Nano One" or "the Company") is developing patented technology for the low-cost production of high performance battery materials used in electric vehicles, energy storage and consumer electronics. The processing technology addresses fundamental supply chain constraints by enabling wider raw materials specifications for use in lithium ion batteries. The process can be configured for a range of different nanostructured materials and has the flexibility to shift with emerging and future battery market trends and a diverse range of other growth opportunities. The novel three-stage process uses equipment common to industry and Nano One is building a pilot plant to demonstrate high volume production. The pilot plant is being funded with the assistance and support of the Government of Canada through Sustainable Development Technology Canada (SDTC) and the Automotive Supplier Innovation Program (ASIP). Nano One also receives financial support from the National Research Council of Canada Industrial Research Assistance Program (NRC-IRAP). Nano One's mission is to establish its patented technology as a leading platform for the global production of a new generation of nanostructured composite materials. For more information, please visit www.nanoone.ca
About NORAM and BC Research
NORAM Engineering and Constructors Ltd. and their subsidiary, BC Research Inc., supply proprietary engineering and equipment packages to the chemical, pulp and paper, minerals processing and electrochemical sectors. They are recognized worldwide as a leader in the fields of nitration, sulfuric acid and electrochemistry. In addition to carrying out large assignments for major multi-national clients, NORAM and BC Research work with early-stage technology companies. They provide engineering design and fabrication support, sharing their experience in technology commercialization, and growing with companies as a strategic partner.
Certain information contained herein may constitute "forward-looking information" under Canadian securities legislation. Forward-looking information includes, but is not limited to, the execution of the Company's plans which are contingent on the receipt of grant monies and the commercialization of the Company's technology and patents. Generally, forward-looking information can be identified by the use of forward-looking terminology such as 'believe', 'expect', 'anticipate', 'plan', 'intend', 'continue', 'estimate', 'may', 'will', 'should', 'ongoing', or variations of such words and phrases or statements that certain actions, events or results "will" occur. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they 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: the ability of the Company to obtain additional financing; including the receipt of grant monies from SDTC, ASIP, NRC-IRAP and the receipt of all necessary regulatory approvals. 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 to update any forward-looking statements or forward-looking information that is incorporated by reference herein, except as required by applicable securities laws.
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