Nano One Strengthens Position as North America’s Clean Cathode Champion

• Over C$31M in new working capital from government programs and asset monetization, plus C$29M still to draw down.
• One-Pot process significantly lowers cost, complexity, and emissions in battery material production.
• Collaborations with Rio Tinto, Sumitomo, and Worley are accelerating commercialization and global reach.
• The Candiac plant is North America’s only LFP pilot facility outside of Asia, serving as both a demo and licensee training site.
• Continued piloting, partner engagement, licensing development, and production capacity expansion are on track.

Nano One Materials, a Canadian clean technology company, is making major strides toward redefining how lithium-ion battery materials are produced—efficiently, cleanly, and closer to home. Through its patented One-Pot process and growing suite of strategic partnerships, the company is steadily advancing a technology-first business model to support electric vehicles (EVs), energy storage systems (ESS), and industrial electrification.

At the heart of Nano One’s operations is its Candiac, Québec facility—the only full-scale LFP pilot plant outside of Asia—which is now being ramped up for commercialization with the help of over C$45 million in non-dilutive government support.

“These funds strengthen our balance sheet and enable us to fully execute on our capacity expansion, production and licensing plans through 2025 and further,” said Dan Blondal, Nano One’s CEO and Founder. “This reflects the strategic importance of our One-Pot process for energy and supply chain security, adds considerable shareholder value and supports commercialization and the fulfillment of our corporate objectives.”

Government Support & Commercial Progress

Nano One’s progress has not gone unnoticed by governments. Over the past year, the company has secured a robust stream of non-dilutive funding from multiple levels of government in Canada and the United States, including the Government of Québec, the Government of Canada, and the U.S. Department of Defense. These funds are aimed at strengthening domestic battery supply chains and ensuring long-term energy security.

In December 2024, Nano One was awarded C$18 million from the Government of Québec. The support includes a C$15 million loan from the Ministry of the Economy, Innovation and Energy via Investissement Québec, and a C$3 million grant from the Ministry of the Environment under its Technoclimat program.

This funding directly supports approximately C$63.4 million in eligible expenditures related to the company’s Candiac LFP demonstration and production facility, reinforcing Québec’s position as a hub for sustainable battery materials innovation.

Further bolstering its balance sheet, Nano One completed a sale and leaseback of its Candiac facility in Q1 2025. The deal brought in C$13.7 million in net proceeds plus a C$2 million deferred payment, helping to extend its runway while maintaining operational control through a 15-year lease with optional renewals.

Combined, these efforts have brought C$31.25 million in new working capital, providing a strong foundation to execute on engineering, production scale-up, and commercialization efforts—all without issuing equity.

“We are drawing down from approximately C$45 million in government awards previously announced, with some contributions retroactive as far back as January 1, 2023,” Blondal said. “These funds… enable us to fully execute on our capacity expansion, production and licensing plans through 2025 and further.”

One-Pot Process Gains Momentum

At the core of Nano One’s innovation is its One-Pot Process, a patented and modular manufacturing technology that changes how cathode active materials (CAM) are made. This single-step process streamlines production by eliminating multiple processing stages—including the need for separate precursor synthesis and coating—reducing complexity, cost, and environmental impact.

The One-Pot process is designed to produce high-performance cathode materials like lithium iron phosphate (LFP), nickel manganese cobalt (NMC), and lithium manganese nickel oxide (LNMO), while also integrating protective coatings at the nano level. These coatings improve battery durability and performance, addressing issues such as degradation and limited cycle life.

According to third-party cost analyses and life-cycle assessments, the One-Pot process can:

• Cut capital expenditures (capex) by at least 30%
• Reduce operating expenditures (opex) by up to 30%
• Lower greenhouse gas emissions by 50–60%
• Use 80% less energy and water
• Eliminate sodium sulfate wastewater, a common and environmentally problematic byproduct of traditional processes​

Nano One’s M2CAM® (Metal to Cathode Active Material) innovation further enhances this approach by enabling sulfate-free metal inputs—bypassing waste streams, simplifying logistics, and improving overall process sustainability.

These innovations make the technology highly attractive to governments and global manufacturers seeking cleaner, faster, and more secure ways to build battery supply chains outside of China.

Alliances Fuel Global Expansion Plans

Nano One’s commercialization strategy is based on a flexible, capital-light licensing model: design one plant, replicate it globally. With over 48 patents granted and 56+ pending worldwide, the company is positioning itself as a clean tech platform provider for cathode materials production.

This strategy is supported by high-impact partnerships, most notably with Worley Chemetics, a global leader in engineering and energy infrastructure. Together, the two companies have developed a full-scale modular plant design based on Nano One’s One-Pot technology, targeting rapid deployment for licensees and joint venture partners.

“The preliminary design and full-scale layout of the modular ‘Design One, Build Many’ plant is complete and being marketed with the cost comparison study to prospective clients,” Nano One reported in its December 2024 update.

The plant layout is being positioned to serve battery OEMs, ESS integrators, and defense contractors who are eager to localize and decarbonize their supply chains.

In addition to Worley, Nano One has active relationships with major international players like Rio Tinto and Sumitomo Metal Mining, and has received funding or support from various government bodies, including the U.S. Department of Defense, which awarded US$12.9 million to Nano One in 2024 to support its LFP and R&D scale-up.

These partnerships are key to scaling not just production, but also training, qualification, and technology transfer—elements that are already underway at the company’s Candiac pilot facility.

Strategic Outlook for Long-Term Growth

Nano One Materials Corp. stands out as a clean technology innovator uniquely positioned at the intersection of critical minerals, battery supply chain security, and green manufacturing. Its One-Pot process, combined with a flexible licensing-driven growth model, offers meaningful differentiation in a space where cost, environmental impact, and geopolitical risk are under intense scrutiny.

With over C$31 million in new working capital, C$29 million still available in government reimbursements, and a growing pipeline of commercial partners, Nano One is financially and strategically equipped to execute on its near-term priorities. These include advancing its Candiac demonstration plant, marketing modular plant designs, and onboarding new licensees or joint ventures under its “Design One, Build Many” strategy.

As jurisdictions around the world race to localize battery material supply chains, reduce emissions, and mitigate exposure to overseas production, Nano One offers a scalable and cost-effective solution rooted in Canadian innovation. Continued execution through 2025 could serve as a catalyst for broader industry adoption and further unlock shareholder value in the years ahead.