Nano One Materials Corp (CVE:NNO) (OTCMKTS:NNOMF) has reported a boost to its business aims as it told investors that its patented cathode material technology had tested positively in solid state batteries with auto companies.
The company is working with various automotive manufacturers to assess the group's patented 'One Pot' process and coated lithium nickel manganese oxide (LNMO) cathode materials.
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Solid state lithium ion batteries are of considerable interest because it means flammable liquid electrolytes can be replaced with solid materials that improve safety, power, and energy density of the battery, Nano One explained in a statement.
"The largest single challenge in solid state batteries is to design a stable and commercially viable interface between the solid electrolyte, of polymer, ceramic or glass composition, and the solid cathode and anode materials on either side of this electrolyte," the firm added.
The firm's coated LNMO, also called the high voltage spinel (HVS), stabilizes the interface between cathode and electrolyte.
"Nano One is well positioned to capitalize on the rising automotive interest in solid state lithium ion batteries," Dr Stephen Campbell, chief technology officer (CTO) of Nano One said in the statement.
"Currently, several independent evaluations of our High Voltage Spinel are underway within automotive manufacturer consortia employing both polymer and ceramic solid electrolytes. Initial results with various solid electrolytes are encouraging and Nano One will provide further details as these evaluations progress," he added.
Shares added 10.58% to C$1.15 in Toronto.
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