VANCOUVER, British Columbia, June 07, 2016 (GLOBE NEWSWIRE) -- Dan Blondal, CEO of Nano One Materials Corp. (TSX-V:NNO) (FSE:LBMB), today provided an update on the progress of its lithium battery materials pilot plant.
“We are pleased to report that the design phase of our pilot plant was completed on schedule and budget at the end of May.” said Mr. Blondal. “We initiated the procurement and construction phase on June 1 and are on track to have the pilot built early in 2017. The goal of the pilot is to simulate full scale production of lithium ion cathode materials and demonstrate the cost, scalability, performance and novelty of Nano One’s technology to strategic industry players.”
The pilot plant will be used to showcase Nano One’s patented technology and demonstrate cost, scalability and performance to third party strategic interests. It is designed with flexibility to demonstrate a variety of processing concepts and chemistries, enabling Nano One to adapt to market needs and produce a range of products, including Nano One’s recently announced high voltage, cobalt free battery material. The pilot will be capable of producing ten (10) kilogram batches of various lithium mixed metal cathode materials that are strategically important to electric vehicle, grid storage and consumer electronic batteries.
“We have confidence in our piloting concepts,” adds Mr. Blondal, “and they have materialized into a platform that should readily scale. With these activities on target and underway, we are well positioned to execute our business plan and advance our strategic objectives.”
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.
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 NEWS RELEASE
Source:Nano One Materials Corp.