Nano One Materials Secures $12.9M U.S. Department of Defense Grant for LFP Battery Production

Nano One Materials Corp CEO Dan Blondal shared significant news with Steve Darling from Proactive regarding a $12.9 million grant awarded by the U.S. Department of Defense (DoD) under its Title III Defense Production Act Investments program. The funding will support Nano One’s ongoing work at its facilities in Burnaby, British Columbia, and Candiac, Québec, focusing on enhancing North America’s only lithium iron phosphate (LFP) production site. The grant aims to bolster energy security by accelerating the development of a robust LFP battery supply chain across the U.S. and Canada. It also addresses the defense sector's energy security needs, potentially leading to product validation and sales to U.S. government suppliers. Blondal emphasized the growing global demand for LFP technology due to its cost efficiency, safety, supply chain security, and reduced environmental impact compared to traditional lithium nickel manganese cobalt (NMC) cathode materials. Nano One’s patented One-Pot process, which simplifies production by combining precursor CAM (pCAM) and CAM production, is a key innovation that cuts costs, energy use, and environmental challenges on an industrial scale. #nanoonebatterymaterialscorp #tsx #nano #otc #nnomf #BatteryTech #CleanEnergy #LFP #Innovation #RenewableTech #GreenTech #Sustainability #ElectricVehicles #FutureTech #MaterialsScience #TechNews #EnvironmentalImpact #EnergyStorage #TechInnovation #Cleantech #NanoMaterials #2024Updates #EcoFriendly #AdvancedMaterials #InvestmentOpportunity #SumitomoCollaboration #FeasibilityStudy #invest #investing #investment #investor #stockmarket #stocks #stock #stockmarketnews