Proactive Investors - Nano One Materials Corp (TSX:NANO) announced that it has confirmed orders for about 1.3 tonnes of lithium iron phosphate (LFP) samples from key collaborators for commercial evaluation purposes, of which approximately 30% has been shipped.
The clean technology company said the LFP was made using Nano One's recently commissioned One-Pot LFP pilot facilities in Québec, demonstrating and de-risking production in commercial scale equipment.
"Our team in 2023 has significantly de-risked our capacity to scale and grow with our collaborators and future customers and accelerated the timeline to tonne-scale sample evaluations," Nano One Materials CEO Dan Blondal said in a statement.
"These milestones showcase Nano One's ability to execute on its plans and help to increase shareholder value and supply chain confidence in Nano One's technology and growth strategy," he added.
Nano One noted that additional key collaborators in automotive original equipment manufacturers (OEMs), energy storage solutions (ESS), defense, and industrial sectors are also testing and validating Nano One's LFP pilot materials for the purposes of securing offtake agreements to meet their business objectives.
The company added that it is addressing a diverse market for LFP and creating multiple client relationships to satisfy growth plans and the sector's needs, with target markets that include North America, Europe and the Indo-Pacific region, representing an addressable LFP market opportunity totaling US$48 billion by 2035.
Nano One Materials is a clean technology company with patented processes for the production of lithium-ion battery cathode active materials (CAM) that enable secure and resilient supply chains by driving down cost, complexity, energy intensity, and environmental footprint.