Nano One Materials CEO Dan Blondal joined Steve Darling from Proactive to share news the company has announced that the company has secured $18 million in financing from the Government of Québec to advance its innovative clean technology initiatives. The funding package includes a $15 million loan from the Ministry of the Economy, Innovation and Energy, facilitated by Investissement Québec, and a $3 million grant from the Ministry of the Environment, the Fight against Climate Change, Wildlife and Parks through its Technoclimat program.
Blondal explained that the financing will support the piloting and commercialization of Nano One's proprietary One-Pot™ process and expand production capacity at the company’s lithium iron phosphate (LFP) manufacturing facility in Candiac, Québec. The $15 million loan backs $63.4 million in eligible expenditures between January 2023 and December 2026, with $30 million already incurred.
The Loan repayments will commence 60 months after the initial disbursement and extend over the following five years. The $3 million grant is earmarked to reimburse expenses incurred at the Candiac plant and to facilitate the transition to cleaner, more efficient manufacturing practices. Blondal emphasized that this funding strengthens Nano One’s mission to deliver sustainable battery materials and supports the company’s role in advancing Québec's clean energy and manufacturing ecosystem.