Nano One Materials Corp (CVE:NNO) (OTCMKTS:NNOMF) reported a further boost to its technology and business plan Thursday as the company said it had received another key US patent.
Amid the frenzy to commercialize lithium-ion batteries in electric vehicles, the tech group is advancing a lithium nickel manganese cobalt (NMC) cathode technology. The process can produce low-cost, high performance lithium ion battery cathode materials.
READ: Nano One teams up with automotive manufacturer to test its cathode materials in electric car batteries
The Burnaby, Canada based firm pointed out that NMC cathodes are typically comprised of lithium, nickel, manganese and cobalt but moves are underway globally to increase the nickel component and reduce cobalt to mitigate supply chain risk.
But this shift to nickel-rich materials compromises stability and safety in the battery and the materials require special handling, it noted.
"Nano One’s unique powders are differentiated from these efforts and they enable an innovative approach to lowering cost and increasing the durability of NMC powders," it told investors.
Particularly significant
Dr Stephen Campbell, chief technology officer at Nano One Materials Corp, added: "This patent is particularly significant as it defines the properties of our high energy NMC cathode powders, rather than the underlying process to make them. These powders have unique physical properties, related to size and nanostructure, that Nano One is exploiting for improved durability, handling, safety and cost.
"It complements our process patent portfolio and adds substantially to our strategy with recently announced automotive partners to develop a new generation of low cost and durable high energy cathodes.”
Dr Joseph Guy, director at Nano One, added: "This is an important cornerstone in the execution of Nano One’s business plan and provides valuable leverage going forward."
Shares in Toronto added nearly 8% in Toronto to stand at $1.22 each.
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