Nano One Materials Corp (CVE:NNO) (OTCPINK:NOMF) (FRA:LBMB) has reported that its proprietary technology is performing well in tests aimed at developing solid-state batteries under its collaboration with the University of Michigan.
The benefit of solid-state batteries is they replace flammable liquid electrolytes with a solid interface between the cathode and the anode. The company has a number of test programs currently underway with industry and academia to test its lithium nickel manganese cobalt oxide (NMC) and high voltage spinel (HVS) in different solid-state battery systems.
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"Evaluations of Nano One's unique NMC 811 and HVS cathode materials are showing positive results with solid-state electrolytes in solid-state batteries," said Dr Stephen Campbell, chief technology officer (CTO) of Nano One in a statement.
"Nano One sees great potential for growth in solid-state battery markets driven by automotive interest. We are scaling up our innovative processes and materials with a growing list collaborators," he added.
HVS, also known as lithium nickel manganese oxide (LNMO) is cobalt-free and fast to charge and suited to solid-state batteries because it does not expand, contract and stress the cathode-electrolyte interface.
The company has developed patented technology for the low-cost production of high-performance lithium-ion battery cathode materials used in electric vehicles, energy storage and consumer electronics.
Shares in Toronto zipped up over 8.5% to C$5.86 on the day.
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Contact the author at giles@proactiveinvestors.com