Nano One Materials (NNO.V) and a Chinese-based multi-billion dollar Asian cathode material producer, entered into a joint development agreement (JDA).
According to the press release, the Chinese company wishes to remain anonymous because of the competitive state of the lithium-ion battery supply chain, but the deal jives with Nano One’s stated mission to develop, demonstrate and license its high performance lithium-ion battery cathode material tech.
“We are thrilled to be working with a highly respected cathode producer who shares Nano One’s vision to develop and launch a disruptive cathode business. This is a defining moment in our evolution and an important milestone in the advancement of our business,” said Dan Blondal, CEO, director and founder of Nano One.
The JDA has the parties jointly developing and evaluating cathode materials made with combined technologies, including Nano’s one-pot process, for the production of coated single crystal cathode powders. The JDA also includes a framework for the development of a business plan to commercialize these materials. Potentially, this JDA could develop into a joint venture, including licensing of Nano One’s technology, and the possibility of further joint development work.
Nano One’s claim to fame is the development, patenting and sealing up of processes that produce cathode active materials (CAM) for lithium-ion battery applications in electric vehicles, energy storage and consumer electronics. The engineering behind the processes includes a low carbon footprint to form protective coatings on individual crystals intended to make the more durable while adding value through the reduction of process steps, and attendant cost.
“We have assembled a valuable portfolio of cathode technologies and our business strategy is designed for opportunities such as this. We are excited to be working with a global leader in innovation and materials manufacturing who share our vision and we look forward to advancing this partnership and expanding our business opportunities,” said Blondal.