Nano One Materials Corp (TSX:NANO, OTC:NNOMF) said it ended the second quarter with a solid cash position and new growth opportunities in the US after being named a top lithium iron phosphate (LFP) innovator by the International Energy Agency (IEA) and joining a high-profile US battery supply chain accelerator.
The Canadian technology company, which is developing new methods for producing cathode active materials for lithium-ion batteries, reported total net assets of C$23.2 million and working capital of C$22.8 million as of June 30, 2025.
That included C$3.6 million in non-dilutive funding from government programs in the quarter, with about C$25 million more in reimbursements expected over the next two years from contracted government programs.
Subsequent to the quarter-end, Nano One was one of only three companies chosen for the inaugural cohort of the Arkansas Lithium Technology Accelerator (ALTA), a program backed by Standard Lithium, the Walton Family Foundation and other partners.
The move positions the company as a contributor to US battery supply chain independence and provides a platform for partnerships and market visibility south of the border, Nano One told shareholders.
“Arkansas’ goals align with our multi-jurisdictional strategy, leveraging our Candiac facility as a hub for validation, commercialization, and large-scale growth,” the company said in a statement.
Additionally, on July 14, Nano One began trading on the US OTCQB under the ticker symbol “NNOMF,” expanding accessibility for US investors.
For Q2 2025, Nano One posted a net loss of $2.8 million. Proceeds from government grants and other income partially offset its operating expenses, the company said.
Total assets decreased by $2.6 million from the previous quarter, reflecting cash used in operations, capital expenditures, and lease and other payments.