Nano One Materia - NNOMF STOCK NEWS

Nano One Materials Corp. (TSX:NANO, OTC PINK:NNOMF) has reported its Q2 2024 results and provided updates on key developments. The company has entered into a Strategic Alliance Agreement and License Agreement with Worley, a global engineering leader, to jointly develop and market cathode active material (CAM) production facilities. Additionally, Nano One and Worley have been awarded $2.8 million in non-dilutive funding from NGen to advance their collaboration.

The company has also signed a definitive agreement to sell vacant land in Candiac for $5 million, strengthening its financial position. Nano One reported total net assets of $30.8 million and working capital of $13.2 million at the end of Q2 2024. The company is progressing with its growth strategy, including plans to expand its LFP cathode manufacturing facility and develop a 25,000 tpa LFP commercial plant as a separate operating company.

Nano One Materials Corp and Worley Chemetics have been awarded C$2.8 million in non-dilutive, non-repayable funding by Next Generation Manufacturing Canada (NGen) through its Electric Vehicle Manufacturing Program. This funding will support the joint development of reactors and kiln components for Nano One's patented One-Pot process, a scalable and efficient method for producing lithium-ion battery cathode active materials (CAM).

The project aims to integrate both companies' advanced process and equipment knowledge into the CAM manufacturing ecosystem, enabling the joint marketing and sale of equipment in Canada and globally. This collaboration is expected to accelerate the commercial trajectory of the One-Pot process and add valuable layers of intellectual property protection to the CAM package offering.

Nano One Materials Corp. (TSX:NANO)(OTC PINK:NNOMF), a clean technology company specializing in lithium-ion battery cathode active materials production, held its Annual General and Special Meeting on August 2, 2024. The meeting saw 33.95% shareholder participation, with all proposed matters approved. Key outcomes include:

1. Election of seven directors, with Lisa Skakun receiving the lowest approval at 78.61%.
2. Appointment of Davidson & Company LLP as auditors.
3. Approval of unallocated equity entitlements under the Omnibus Equity Incentive Plan.

The company's management also discussed market conditions and recent accomplishments, with a replay available on their website. Nano One's patented processes aim to enhance supply chain security while reducing costs and environmental impact in battery material production.

Nano One Materials Corp. (TSX:NANO)(OTC PINK:NNOMF) reminds shareholders about the upcoming annual general and special meeting (AGSM) on August 1, 2024, at 1:30pm Pacific Time. The company, which develops low-cost, eco-friendly cathode materials for lithium-ion batteries, has added a Zoom meeting option to facilitate the AGSM and subsequent Q&A session. While shareholder voting closed on July 30, proxy voting is still available at the AGSM. Meeting materials are accessible on the company's website and SEDAR+. Management will discuss market conditions and the company's achievements over the past year during the meeting.

Nano One Materials Corp. (TSX:NANO)(OTC PINK:NNOMF)(Frankfurt:LBMB), a clean technology company specializing in low-cost, eco-friendly production of high-performance cathode materials for lithium-ion batteries, has announced its upcoming Annual General and Special Meeting (AGSM) scheduled for August 1, 2024, at 1:30 PM Pacific Time. Shareholders are reminded to cast their votes by July 30, 2024, at 1:30 PM Pacific Time. Meeting materials were mailed to shareholders of record in early July and are available on the company's website and SEDAR+. Shareholders can vote by proxy through various methods, including internet, phone, or fax. Those wishing to participate can join via conference call, with dial-in details provided for both domestic and international callers.

On June 20, 2024, Nano One Materials announced a strategic partnership with Worley to advance the production of lithium-ion battery cathode active materials (CAM). The partnership aims to deploy Nano One's patented technology globally, focusing on reducing waste, cost, and environmental impact. The new modular plant design will eliminate waste treatment, reducing expenses and facilitating easier permitting. Recent market projections indicate significant growth for Lithium Iron Phosphate (LFP), which aligns with Nano One’s focus. The collaboration will leverage Worley’s engineering expertise and supply chain relationships to accelerate commercialization and achieve economies of scale.

For a detailed discussion, watch the fireside chat featuring Nano One's CEO Dan Blondal and Worley's Group President Laura Leonard.

Nano One reported its Q1 2024 results, highlighting significant financial and strategic developments. The company ended the period with $23.1 million in cash and $21.2 million in working capital. A strategic alliance and licensing agreement were signed with Worley to develop and market One-Pot enabled cathode plant designs. This includes a 20-year license agreement for CAM packages.

The company is focused on optimizing and validating its LFP production, aiming for 1,000-2,000 tpa capacity at its Candiac facility and supporting a future 25,000 tpa LFP plant. Financially, Nano One showed a reduction in operating cash use, with total assets of $41.1 million and liabilities of $5.3 million, with no long-term debt. The shareholders' meeting is rescheduled to August 1, 2024.

Nano One and Worley have signed a Strategic Alliance Agreement and License Agreement to jointly develop, market, and deploy a cathode plant design. The agreements aim to accelerate the deployment of One-Pot enabled cathode plant design with a design-once-build-many growth strategy. Worley will design reactors optimized for the One-Pot process, while Nano One brings its patented One-Pot process and innovation hub. The partnership is expected to reduce risk, cost, and accelerate project certainty in the production of lithium-ion battery cathode materials.