Nano One, a company that develops processing technology for the production of high performance battery materials used in electric vehicles, energy storage, and consumer electronics, has received a $2 million investment from Sustainable Development Technology Canada.
Just yesterday, Nanoleaf also announced that it had secured $2.9 million from the same entity, which is the federal government’s fund dedicated to cleantech startups.
The company is dedicating the funding to the design, construction, optimization and demonstration of Nano One’s Demonstration Pilot Plant for the production of lithium ion battery cathode materials.
“This project will help Nano One further its traction within the lithium ion battery industry,” saidNano One chairman Paul Matysek. “and SDTC’s support brings valuable funding and validation while providing the kind of leverage that investors and strategic interests are looking for.”
Nano One’s material takes faster charge, and the company says it can store 2-3 times more energy over the lifetime of the battery. For complex materials, Nano One’s technology can complete a production cycle in less than a day, compared to four to seven days using traditional methods. The company has a industrial commercialization partnership with BCRI and its parent company, NORAM Engineering.