Nano One Materials Corp (CVE:NNO) (OTCPINK:NNOMF) has released a new engineering report highlighting a number of enhancements in its lithium-ion battery cathode materials process technology.
The report contains upgraded design specifications, stricter budget estimates and improved economics for commercial-scale production of lithium-ion phosphate (LFP).
Vancouver-based Nano One is developing patented technology for the low-cost production of high-performance lithium-ion battery cathode materials for electric vehicles, energy storage and consumer electronics.
READ: Nano One Materials unveils further boost as its cathode technology tests positively in solid state batteries
"We now have improved economics, and enhanced design specifications on a 4,800 ton per year manufacturing line for the production of lithium iron phosphate," Nano One’s CEO Dan Blondal said in a statement Thursday.
The details in this engineering report will help advance the marketing and commercialization of Nano One technology, Blondal added.
“The results present tangible and meaningful cost reductions in equipment, construction and operating expenses,” the CEO said. “It will showcase and advance the licensing and joint venture prospects of our patented one-pot cathode materials and production processes."
According to the report, which was prepared by Vancouver-based Noram Engineering and Constructors, economic improvements include reducing equipment and operating expenses from last year’s estimates, which complements raw material cost reductions thanks to Nano One’s partnership with Pulead Technology. In addition, it outlines report design specifications, process diagrams, flow sheets, mass balance and plant layout.
The engineering improvements come at a time when the LFP market is seeing “renewed enthusiasm,” according to Blondal, as end-users like Tesla and CATL have announced high energy density LFP battery backs for longer-range vehicles.
“These innovations could radically expand the global demand for LFP cathode materials beyond Asia and into North America, Europe and other markets,” Blondal told investors.
“This represents a tremendous opportunity for Nano One to leverage its low-cost production of LFP and to advance its commercial prospects," he added.
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