Big ideas are becoming realities for Vancouver-based Nano One Materials Corp. (Nano One Materials Corp. Stock Quote, Chart, News: TSXV:NNO).
Nano One, which is looking to decrease the cost of materials used in the production of batteries for the electric vehicle market, today announced that scaled-up production of lithium ion cathode materials that meet its processing and battery capacity targets has been demonstrated.
That’s big news for Nano and its notable backers, which include Innovation, Science and Economic Development Canada (ISED) and Sustainable Development Technology Canada (SDTC).
“Following a flawless startup of the pilot, initial results have exceeded our expectations,” said Nano One CEO Mr. Blondal. “The resulting cathode materials are meeting our targets in lithium ion battery test cells and we are now well positioned to execute on our 2017 plans in bringing industrial interests to the table.”
Part of what its driving eyes to the upstart Nano One is the soaring cost of lithium and the industry’s changing response to the puzzle of how batteries for electric vehicles can be constructed.
In May, Blondal explained to BNN viewers that the company approaches the battery problem differently. Compared to the industry standard practice of mechanically melting, grinding and milling materials, Nano One’s process combines them chemically so the atoms are mixed together at the atomic level. This he says, allows it to work with lower cost lithium and a wider range of the chemical element.
“The industry prefers a lithium hydroxide for electric vehicles and we are able to use a lower cost version of lithum, lithium carbonate going into it, said Blondal. “We believe in a supply constrained world of lithium that we can provide value upstream in the mining market as well as downstream in the performance of the materials.”
Blondal says this development will enable the company to take its ideas from the lab to the street, where deals with large mining companies and battery makers are possibilities.
Disclosure: Nano One is an annual sponsor of Cantech Letter.