Nano One Materials Corp (TSX:NANO, OTC:NNOMF) announced it has entered into strategic partnerships with international engineering firm Worley, for a project to enhance production capabilities and market reach for cathode plant designs used for the manufacture of lithium-ion batteries.
The tie-up comprises an alliance agreement and a licence agreement.
Together the agreements envisage a partnership to develop, market, and deploy One-Pot enabled cathode plant design.
It sees a ‘design-once-build-many’ strategy to accelerate deployment of One-Pot LFP and other cathode chemistries.
The licence agreement will govern licensing, fees and other remuneration to both parties.
"This licensing agreement and global strategic alliance with Worley is another major milestone for Nano One,” chief executive Dan Blondal said in a statement.
“It adds to the growing confidence of our shareholders, partners, and government stakeholders."
Blondel added: “It amplifies the value of our One-Pot process and addresses a growing need for a new generation of scalable battery cathode material production technology and clean, diversified supply chains.
“The collaboration intends to capitalize on Worley's extensive experience and global presence in engineering process facilities to foster a more efficient and eco-friendly approach to cathode material production.”
Worley chief executive Chris Ashton, meanwhile, added: "We're pleased to work with Nano One to bring the One-Pot process to market, which aligns with our technology solutions strategy of commercializing and scaling technologies that accelerate lower cost, lower carbon solutions."
“This partnership is expected to deliver significant advancements in the production of battery materials, potentially setting new industry standards in cost-efficiency and environmental sustainability.”
Shares of Nano One had gained 10.6% by midday in Toronto at C$1.99.
--Updates with share price--