Nano One Materials Corp (TSX:NANO, OTC:NNOMF) told investors that it has leapfrogged to full commercial-size reactors after One-Pot trials in the existing reactors at its Candiac, Québec plant produced lithium iron phosphate (LFP) at a commercial scale with performance results consistent to lab scale.
The company said in a statement that its LFP can be shipped to select customers in the fourth quarter of 2023 for evaluation at tonne scale from the commercial scale reactors. Additionally, it noted that its 200-tonne per annum (tpa) reactors have been installed and optimization is underway for scale-up.
"These reactors performing are an important milestone in our commercialization strategy, to provide tonne scale samples to strategic partners and boost the confidence in our technology's scalability,” commented Nano One chief commercialization officer Denis Geoffroy.
Nano One noted that successful repeatable LFP trials in the existing commercial scale reactors will lead to an accelerated refurbishment of the plant to automatize the use of the existing reactors for the One-Pot process. This would enable continuous production capabilities up to 2,000 tpa level toward the end of 2024, it added.
In parallel, the company said its team has continued to work on the reception, installation, and commissioning of the 200 tpa One-Pot reactors, which will provide important information to improve the processes and support validation in a cost-effective manner as it continues to innovate. They also allow it to have a baseline automated production capacity of 200 tpa, ready to deliver to customers once they have validated the product.
“We are setting the foundation for growth that can secure market share and enhance shareholder value,” the company’s chief operating officer Alex Holmes added.
“This couldn't have been achieved without the unwavering dedication of our team and showcases the amazing talent we have at Nano One."
Progression to profitability
Nano One said producing high-quality cathode material ahead of schedule will also fast-track its progression to profitability.
"While attending The Battery Show in Novi Michigan this week, we are able to talk to select customers about taking orders and potentially supplying them with LFP for their business plans in the future,” Nano One vice president of business development Andrew Muckstadt said.
“As major players are still determining their supply chain and partners, we are demonstrating we have a viable product that can be produced in North America and replicated around the world."
Nano One Materials Corp 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.
Contact the author at stephen.gunnion@proactiveinvestors.com