NANO - Nano One Material Corp and Sumitomo sign collaboration and strategic investment agreement

(NewsDirect)

Nano One Materials Corpchief operating officer Alex Holmes joined Steve Darling fromProactive to announce a significant strategic equity investment ofover $16 million from Sumitomo Metal Mining.

Sumitomo, a renownedplayer in the field, brings a wealth of expertise, deep knowledge, andextensive experience in the production of various precursor cathodeactive materials and cathode active materials.

Their primary objectiveis to enhance the production capacity of cathode materials, marking asignificant development for both companies. Holmes emphasized that thecollaboration opens the door to a multitude of exciting opportunities.The two companies are poised to jointly explore avenues of businessdevelopment, with a keen focus on future sales, licensing agreements,partnerships, and investment and financing opportunities to facilitateexpanded operations.

Furthermore, their collaborative efforts will extend tosupporting the evolution of battery ecosystems, particularly in therealms of LFP (Lithium Iron Phosphate) and NMC (Nickel ManganeseCobalt) production, leveraging Nano One's innovative One-Potprocess. In essence, this strategic partnership is set to driveinnovation, advance production capacities, and explore diverseopportunities in the realm of battery materials, thereby contributingto the growth and sustainability of the industry as a whole.

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