Nano One Materials Corp (TSX:NANO, OTC:NNOMF) has reported a profit of $2.7 million for the first quarter of 2025, driven by the recognition of certain government grants and gains from a major sale and leaseback transaction which closed during the period.
The company said it exited the quarter with $27.8 million in cash and $25.5 million in total net assets, strengthening its financial position as it advances its lithium-ion battery materials technology.
Operational highlights from the quarter included the completion of a $15.7 million sale and leaseback transaction involving the company’s Candiac Facility in Québec, which delivered $13.7 million in net proceeds and a $2 million vendor loan receivable.
Government funding added a further $12.8 million, and $0.3 million was received from NGen after the quarter-end.
The company also reported a $13.8 million lease liability and recognized a $2.8 million government loan from Investissement Québec, with a portion of the total funding package treated as a grant due to favorable loan terms.
Nano One also highlighted that it has a pipeline of approximately $29 million in additional government reimbursements expected over the next two years.