VANCOUVER, British Columbia, March 07, 2016 (GLOBE NEWSWIRE) -- Nano One Materials Corp. (“Nano One”) (TSX.V:NNO) is pleased to announce that it has been approved for a $2.08 million technology commercialization grant from Sustainable Development Technology Canada (“SDTC”).
The proceeds will be non-dilutive and non-repayable and they will help fund the design, construction, optimization and demonstration of Nano One’s Demonstration Pilot Plant for the production of lithium ion battery cathode materials.
The pilot plant will be used to showcase Nano One’s patented technology and demonstrate cost, scalability and performance to third party strategic interests. The pilot plant is being designed to produce approximately ten (10) kilogram batches of various lithium ion cathode materials that are strategically important to electric vehicle, grid storage and consumer electronic batteries.
“Sustainable Development Technology Canada is incredibly proud to support Nano One,” said Leah Lawrence, President and CEO. “Our mission is to help Canadian cleantech entrepreneurs move their ground-breaking technologies to commercialization by bridging the funding gap between research and market entry. Nano One’s battery materials pilot plant is the kind of technology that has the potential to generate jobs, growth and export opportunities, and to bring lasting economic, environmental and health benefits to Canadians and the world.”
Nano One CEO Dan Blondal says that “SDTC is internationally recognized for their expertise in cleantech investment, and their rigorous due diligence and competitive selection process are strong endorsements of our project. SDTC is very supportive of their portfolio companies so we are honored to have earned their confidence and to be participating in Canadian economic growth and environmental stewardship.”
“This project will help Nano One further its traction within the lithium ion battery industry,” adds Nano One Chairman Paul Matysek, “and SDTC’s support brings valuable funding and validation while providing the kind of leverage that investors and strategic interests are looking for.”
The project will commence as Nano One and SDTC agree on project details and funds will be disbursed in installments, over a series of milestones, subject to an investment of matching funds from Nano One and other sources.
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 is developing novel, scalable and low-cost processing technology for the 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 nanostructured materials and has the flexibility to shift with battery market trends and a diverse range 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
Sustainable Development Technology Canada (SDTC) acts as a primary catalyst in building a sustainable development technology industry in Canada, funding and supporting Canadian cleantech projects across a number of sectors. SDTC invests in Canadian companies that through their innovative technologies bring positive contributions to Canada: creating quality jobs, driving economic growth, and preserving our environment. SDTC is a foundation funded by the Government of Canada. For more information, please visit sdtc.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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Source:Nano One Materials Corp.