Nano One Secures $18 Million from Québec for LFP Cathode Production

Nano One Materials Corp. has received a total of C$18 million in funding from the Government of Québec. The funding includes a C$15 million loan from Québec’s Ministry of Economy, Innovation and Energy and a C$3 million grant from the Ministry of Environment, the Fight Against Climate Change, Wildlife and Parks. This financial support will enhance the production capacity and commercialize the One-Pot process at Nano One's Candiac facility.

The C$15 million loan aids expenditures of about $63.4 million until 2026, while the C$3 million grant supports cleaner manufacturing transitions. This follows a US$12.9 million grant from the U.S. Department of Defense, emphasizing Québec and Nano One's pivotal roles in North America's lithium-ion battery supply chain.

The One-Pot process innovatively integrates lithium, iron, and phosphate steps, reducing costs and energy needs. It also tackles supply chain dependencies. The facility in Candiac is aimed at fostering a localized supply chain with reduced environmental impact.