Nano One Materials Corp (TSX:NANO, OTC:NNOMF) and its strategic partner Worley Chemetics, the Canadian subsidiary of Worley Limited, announced they have been awarded $2.8 million in funding by Next Generation Manufacturing Canada (NGen).
The funding, which is non-dilutive and non-repayable, was awarded through NGen’s Electric Vehicle Manufacturing Program to support the development of the Canadian EV supply chain and manufacturing system.
It will support the development of reactors and kiln components for Nano One's innovative "One-Pot" process, a patented and scalable method for producing lithium-ion battery cathode active materials (CAM).
Nano One and Worley formed a strategic alliance on May 2, 2024, to jointly develop and sell CAM facility packages that leverage the One-Pot process.
“The capital provided by NGen enables companies such as Nano One and Worley to accelerate technology development, commercialization and deployment,” Nano One CEO Dan Blondal said in a statement.
“We want to thank NGen for their confidence, for their valuable support and for recognizing Nano One's accomplishments, partners and business objectives."
Worley's Group President of Technology Solutions Laura Leonard, Worley’s Group President of Technology Solutions, added: "NGen backing Worley Chemetics' collaboration with Nano One will accelerate the commercial trajectory of the distinctive One-Pot process. The fastest path to net zero is to standardize or as we are doing with Nano One, design one, build many."