Nano One Materials Corp., a nanomaterials producer announced the closing of a $16.9m strategic investment and collaboration agreement with Sumitomo Metal Mining Co., Ltd., a global leader in the production of non-ferrous metals and materials. The strategic partnership offers a rare combination of Nanomaterials, advanced technologies and deep industry knowledge in crafting high-performance, low-cost materials to meet the ever-growing demand for power storage and aerospace materials.
The agreement and partnership include a buy-in of Nano One shares, warrant purchases, and access to future technology collaborations. Sumitomo Metal Mining Co. is investing in Nano One’s lithium-ion battery cathode development and enables the company to benefit from its significant research and development experience and opportunities in the automotive and mobility sectors.
By combining Nano One’s award-winning patented production technology platform with Sumitomo Metal Mining’s deep expertise in the production of metals and materials, the companies are setting the stage to revolutionize how nanomaterials for high-performance applications are produced. The collaboration aligns both companies’ strengths, resources and operations, creating a comprehensive material supply chain for the production of ultra-high-performance materials.
Nano One Materials’ CEO, Dan Blondal, said: “Integrating Sumitomo Metal Mining’s considerable expertise and commitment to lithium-ion battery cathode research and development with our patented manufacturing process and production technology platform has the potential to create an unparalleled competitive advantage. We look forward to beginning our collaboration and advancing our production technology to meet increasing demands for specialty and premium nanomaterials.”
This partnership marks a significant step in Nano One Materials’ journey of transforming the production of nanomaterials with new and advanced technologies. Sumitomo Metal Mining’s investment reinforces the company’s strategy of integrating global resources for the commercialization of leading technologies. The technology and expertise the two companies bring, will open exciting opportunities for advanced materials applications.
Nano One Materials Corp. is a Canadian advanced material technology-enabled company, specializing in the development of performance materials for the automotive, energy storage, and aerospace industries. It has patented and award-winning technology which can produce nanomaterials for lighter and safer high-performance electric vehicle battery cathodes. Their technology is designed to enable low-cost, high performance nanomaterials with wide selections of active materials for high-performance applications.