Lithium companies gunning to become the leader of EV battery materials.
When people hear the words electric vehicle (EV), Tesla and Elon Musk typically come to mind. However, another Tesla co-founder is now looking to become a dominant player in the EV space. Redwood Materials Inc, which was founded by Tesla co-founder J.B. Straubel has become the largest lithium-ion battery recycler in the country and plays a prominent role in the industry.
Now, Redwood plans to simplify the supply chain by shifting global production for lithium cathodes from Asia to the US and is building a 1,000,000-square-foot facility to become a major US manufacturer of cathodes. Battery materials companies are the backbone of the coming decarbonization and the global green economy, so it’s no surprise that the battery materials industry is growing quickly.
Companies like Nano One Materials Corp. (TSX:NANO) (OTCPK:NNOMF), Standard Lithium (TSX:SLI) (NASDAQ:SLI), Livent Corporation (NYSE:LTHM), FMC Corporation (NYSE:FMC), and Albemarle Corp (NYSE:ALB) are in the middle of a fast-growing trend of electrification for EVs, infrastructure, and technology and are producing, refining, and manufacturing the materials of the future, including lithium, that will power the world.
Nano One Materials Corp. (TSX:NANO) (OTC:NNOMF) is a clean technology company with a patented, scalable, low-carbon industrial process for the cost-effective production of high-performance lithium-ion battery cathode materials.
Nano One’s One-Pot process, coated nanocrystal materials, and M2CAM (Metal direct to Cathode Active Material) technology address fundamental performance requirements and constraints in the supply chain, while reducing costs and carbon footprint.
Since making a breakthrough with LNMO (lithium nickel manganese oxide) last October and achieving almost 1000 cycles in a standard electrolyte battery, Nano One has attracted attention from automotive companies and chemical companies that are interested in the technology.
Nano One Materials Corp. is making continuous progress this year, including graduating to the Toronto Stock Exchange, closing a $28.9 million bought deal offering, entering into a partnership with Johnson Matthey to develop next-generation eLNO family of nickel-rich advanced cathode materials and launching ground-breaking M2CAM technology to reduce cost, waste and carbon footprint in lithium-ion battery supply chain.
Nano One also recently expanded its previously announced automotive program with a multinational automotive company by engaging global engineering firm Hatch Ltd. to lead an industrial scale engineering study.
The expanded program will evaluate economic and environmental advantages of Nano One’s process for the production of nickel rich cathode materials. The goal is not only to do a cost comparison of Nano One’s technology with conventional manufacturing processes but at a scale that will supply enough cathode materials for a full-scale automotive battery cell assembly plant.
At the same time, Nano One is making headway with its Scaling Advanced Battery Materials Project, which has gained funding from organizations such as Sustainable Development Technology Canada and the British Columbia Innovative Clean Energy Fund.
Milestone 2 success has strengthened Nano One’s processes for key cathode materials and enabled the company to expand their staff, and equipment to support next steps in milestone 3 which moves towards commercialization. As a result of the positive progress achieved through milestone 2, advanced funding for milestone 3 has been released to the company in the amount of $1,652,859.
As the global adoption of EVs, and the transition towards the electrification of the world takes place, there will be more focus on all parts of the supply chain from battery metals, processing of materials, cell production and EV production.
Improvements have to happen in cost, performance and carbon footprint and Nano One’s technology addresses all of the above.
Lithium Companies Gunning to Become the Leader of EV Battery Materials, NEW YORK, September 30, 2021
