Clean technology and battery materials pioneer Nano One Materials Corp. (TSX: NANO) (Frankfurt: LBMB) has taken another step towards mass production application of its patented one-pot process technology
The company has signed a memorandum of understanding (MOU) with a multi-national automotive company to develop low cost, cobalt-free, manganese rich, LNMO batteries for use in automotive scale battery cells. Under the terms of the agreement, the name of the automotive company and details of the project remain confidential.
The stock jumped 13.97% in morning trading yesterday (30 September) to reach $4.25 on the news, before settling back to $3.97 by the afternoon. Over 12 months the stock gained 212.6% reaching a peak of $6.50 at the end of December 2020.
The agreement was signed on completion of Nano One’s 2019 cathode development project, first announced on 20 June 2019, which successfully demonstrated the improved performance and durability of a proprietary and experimental nickel rich cathode formulation. The Nano One patented One-Pot, Metal to Cathode Active Material (M2CAM) and coated nanocrystal process technologies enable feedstock flexibility, lower costs, enhanced cycle life and sustainability improvements.
The agreement will focus on the multi-phase development and evaluation of LNMO (Lithium Nickel Manganese Oxide) batteries using cathode materials prepared by Nano One for use in electric vehicles. Work under the MOU will include performance testing, economic...
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