Nano One Materials Corp (CVE:NNO) (OTCPINK:NNOMF) (FRA:LBMB) announced that the first two phases of a joint development agreement announced in August with an Asia-based developer of cathode materials have been completed.
Thus far, the process has centered on LNMO cathode materials (lithium nickel manganese oxide). With validation from both parties, the work is now shifting to scale-up considerations, detailed economic analysis, third-party evaluation, and preliminary planning for commercialization, the company said.
Ultimately, the agreement provides a mechanism for the commercialization of cathode materials, whether through a joint venture, licensing of Nano One's technology and/or through further development work.
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"The work under this agreement is on schedule and on budget, and the LNMO materials have met phase one and two metrics for performance and economics," Nano One CEO Dan Blondal said in a statement. "This partnership is built on trust and a common vision to launch a differentiated and sustainable cathode materials business and we are pleased to be reporting measurable progress towards these goals and the continued execution of our business plans."
The companies are utilizing Nano One’s patented One-Pot Process to develop high-performance LNMO cathode materials. LNMO cathode materials, also known as high voltage spinel (HVS), are of increasing global interest and have great potential in next-generation lithium-ion batteries for electric vehicles, renewable energy storage and consumer electronic devices, the company said.
LMNO materials deliver energy and power on par with other high-performance cathodes and are more cost-effective because they are cobalt-free, low in nickel and do not require excess lithium. LNMO's three-dimensional spinel structure enables lithium ions to flow more quickly than in other types of cathode, which delivers fast charging and discharge while also preventing it from expanding, contracting and straining the battery.
LNMO also has an operating voltage that is 25% higher than commercial high nickel cathodes, the company said, meaning fewer cells are necessary in applications such as power tools and electric vehicles, even while providing improved productivity, efficiency, thermal management and power.
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