VANCOUVER, British Columbia, June 30, 2016 (GLOBE NEWSWIRE) — Dan Blondal, CEO of Nano One Materials Corp. (TSX-V:NNO) (FSE:LBMB), announced today that Nano One will receive support from the National Research Council of Canada Industrial Research Assistance Program (NRC-IRAP).
NRC-IRAP will support Nano One’s project to develop High Voltage Cobalt Free Cathode Materials and will contribute up to $222,857 in non-dilutive and non-repayable funds between June 1, 2016 and November 30, 2017.
“NRC-IRAP has been a valuable contributor on past projects,” says Mr. Blondal, “and we are honoured to have their renewed support in developing this important cathode material. In fact, NRC-IRAP’s past support led to further innovations in Nano One’s processing technology and a patent was filed earlier this month to protect this novel discovery.”
Mr. Blondal adds that “high voltage long lasting cathodes like this one use low cost raw materials and are of strategic interest to industry players because it can help drive down weight, volume, and cost of battery packs. Under this project, we will be optimizing our patented process for this material in preparation for strategic evaluation and scaled up production in our demonstration pilot plant.”
Nano One’s innovative process improves the production and nanostructure of this high voltage cobalt free material and battery test results are showing more stability and higher conductivity than commercially available materials. This could boost cell capacity, extend longevity and improve safety. Add to that the higher voltage and this material could increase energy and power densities of batteries, reduce the number of battery cells and lower requirements for thermal and charge management. These kinds of advances are critical to next gen automotive and grid storage batteries.
Separately, Nano One announces that it has retained the services of Peter Thoma to assist with its investor relations activities and in consideration of the services to be provided, Nano One will pay Mr. Thoma a monthly fee of $2,000.
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 novel and scalable processing technology for the low-cost production of high performance battery materials used in electric vehicles, energy storage and consumer electronics. The patented technology can be configured for a wide range of 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 is being engineered for high volume production and rapid commercialization. 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 nanoone.ca
Certain information contained herein may constitute “forward-looking information” under Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the actual receipt of the grant monies, the execution of the Company’s plans which are contingent on the receipt of such 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 completion of final documentation with SDTC 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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