Nano One Materials Corp (NANO)

[Ubertino]

Vancouver-based company receives $1.9 million to develop technologies for the cars of the future

Funding will help develop next-generation energy storage materials for electric vehicles

VANCOUVER, Dec. 2, 2016 /CNW/ - Today, the Government of Canada announced an investment of up to $1.9 million in Vancouver-based Nano One to support the development of cutting-edge electric vehicle battery technology. Nano One produces low-cost high-performance energy storage materials for batteries as well as a wide range of advanced nanostructured composite materials. The new technology will reduce the cost of the energy storage materials in electric vehicle batteries, resulting in batteries that are longer lasting, easier to charge and able to produce more energy.

By investing in Canada's automotive sector, the Government is securing jobs, supporting small and medium-sized enterprises and ensuring the right conditions for innovation. The announcement was made by Jonathan Wilkinson, Parliamentary Secretary to the Minister of Environment and Climate Change, on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development.

The funding, made available through the Automotive Supplier Innovation Program, will support the development and production of electric vehicle battery material in Nano One's pilot plant. The facility will simulate full-scale production of lithium-ion cathode materials and showcase Nano One's patented processing technology. The pilot will also demonstrate the cost, scalability, performance and novelty of Nano One's technology and will enable Nano One to significantly enhance the production of lithium-ion cathode materials. The investment is part of the Innovation Agenda, the Government of Canada's plan to create good-quality jobs for the middle class and those working hard to join it.

"These projects illustrate how Canada's automotive suppliers are at the forefront of designing and building the super-efficient cars of the future—cars that are more energy-efficient and better for the environment. The made-in-Canada innovations that come from these companies strengthen the skills, knowledge and business expertise that create well-paying jobs for Canadians. These innovations make our country's automotive sector a global success."
– The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development

"The Government of Canada's Automotive Supplier Innovation Program supports automotive suppliers in developing ground-breaking products and bringing them to market. We are proud to support these technologies, which will help create quality jobs and support Canada's middle class. By investing in Nano One, we are also promoting automotive sector innovation that will lead to a greener, more sustainable future."
– Jonathan Wilkinson, Parliamentary Secretary to the Minister of Environment and Climate Change

http://www.edmontonjournal.com/business/cnw/release.html?rkey=20161202C1052&filter=5599