Nano One®Materials Corp. reported that its lithium iron phosphate (LFP) trials, One-Pot reactors, sampling and pilot production plans are being expedited as previously outlined, and that initial engineering plans for its first full scale commercial plant are nearing completion. Additionally, the Company reported on six new patents that significantly enhance its global portfolio of intellectual property.

The supply of critical minerals and raw material inputs are being trialed in large scale batches, providing Nano One with greater certainty of feedstock quality and full scale operating conditions and the new reactors will be automated with feeding and dosing systems to ensure consistent quality and reproducibility of LFP samples. Learnings and offtake agreements from these trials are also expected to shape expansion plans and revenue projections for the existing plant up to 2,000 tonnes per annum (tpa). This extends to the adjacent future commercial plant and initiatives beyond Candiac to scale further to hundreds of thousands of tonnes.

Nano One aims to demonstrate scalability and production for third party qualification with the goal of securing offtake agreements and first revenues with its partners, that could clear a path for rapid commercial scale-up. The trials will also facilitate further learnings on equipment, engineering, quality systems and operational excellence. Nano One also announced significant progress on key technologies with 6 new patents that are approved for issuance, or have issued, in Canada, United States and Japan, bringing its global total to 33.

In large part to ongoing support from Government of Canada programs, Nano One continues to extend the Canadian IP landscape and its own protections, all while growing economic activity, as summarized below: High nickel cathode materials for improved battery performance, Nano One's proprietary process of cathode manufacturing, One-Pot sulfate free process for formation of LFP cathode materials, and; The manganese stabilization technology which is particularly important in spinel based cathode materials such as high voltage spinel (HVS). Nano One is executing on the plans for its first commercial plant as layed out in its news release dated April 24, 2023. As previously disclosed, Nano One intends to build its first commercial plant adjacent to the existing pilot facility at its Candiac site, with preliminary estimates indicating production line capacity of approximately 10,000 tpa, representing a five-fold increase over the pilot facility.

A detailed engineering study is nearing completion and will inform Nano One's plans for additional production lines, as the LFP market grows and as local infrastructure can support it. This first commercial plant could enable significant revenue growth during Nano One's initial years of commercial operations while also enabling demonstration of its technology to the market, potential licensors, joint ventures, and investors, at a scale that can be replicated in much larger plants to server automotive, industrial and renewable energy storage markets. The pilot and first commercial plant will also serve as a "centre of excellence" to train future plant operators, to facilitate continuous improvement and to offer Nano One's customers, partners and licensees access to experienced implementation teams, engineering, procurement, construction and operation to de-risk investments and ensure a secure and stable supply of LFP.