Nano One Secures C$12.75 Million from Government Contributions

Nano One Materials Corp. has received C$12.75 million in non-dilutive funds from various government programs, bolstering its working capital aimed at lithium-ion battery commercialization initiatives. The funds, primarily reimbursements for eligible project expenses, enhance the company's financial capacity for pilot projects, capacity expansion, and licencing plans.

The contributions are part of a larger C$45 million in government awards. Nano One’s CEO, Dan Blondal, stated that the funds will facilitate their strategic plans, emphasizing the importance of their One-Pot process in energy security and supply chain stability.

This financial injection supports the expansion and commercialization efforts at Nano One’s LFP facility in Candiac, Québec. The company also expects additional reimbursements of approximately C$29 million over the next two years. A video tour showcasing their advancements is available online.