Nano One receives $3 million in funding from NRCan

Nano One Materials Corp. has secured $3 million in funding from Natural Resources Canada to support the production of lithium iron phosphate (LFP) cathode materials. This support will be used to optimize processes and diversify the supply chain to enhance economic resilience. Strategic shareholder Sumitomo Metal Mining is involved in the development and validation of the project.

Nano One's patented One-Pot process enables the use of alternative iron raw materials, thereby reducing dependence on Chinese suppliers. This technology is part of efforts to diversify and secure supply chains for critical materials needed in the energy transition.

This initiative aligns with the Canadian government's objective of strengthening supply chains while stimulating innovation and economic productivity across the country. NRCan's support demonstrates Canada's commitment to a low-carbon future.