Nano One® Materials Corp. (“Nano One” or the “Company”) (TSX: NANO) (OTCQB: NNOMF) (Frankfurt: LBMB), a process technology company specializing in lithium-ion battery cathode active materials, is advancing its first Development Company (“Canada DevCo” or the “Project”) as part of its strategy to deploy lithium iron phosphate (“LFP”) cathode production in Canada.
The Company has begun a site evaluation study to assess potential locations for a proposed 25 ktpa cathode production facility, with a potential expansion to up to 100 ktpa of production capacity. The Project aims to serve ESS, EV and defence markets in Canada and internationally. The study aims to identify preferred site options and assess factors such as access to utilities and key infrastructure, as well as relevant permitting roadmaps. The work will allow Nano One to prepare operational site options, which will be key in the ongoing discussions and engagements with potential customers and strategic partners.
“We are pleased to be advancing our first Development Company Project, which aims to expand Nano One’s operational footprint beyond our existing Candiac Facility,” said Denis Geoffroy, COO of Nano One. “There is increasing market pull from customers for the industry to deliver LFP cathode active materials from a regionally focused and resilient supply chain. LFP cathode is a critical material needed in the production of lithium batteries for ESS, EV and defence applications. Discussions with potential strategic partners and customers for Canada DevCo are progressing.”
Canadian Advantages and Strategic Alignment
Canada offers competitive industrial power costs and one of the lowest-carbon electricity grids globally. This, along with regional access to key input materials, positions Nano One well to build LFP cathode production in Canada. The Canada DevCo Project will draw on experience from operating the Candiac Facility, which will support technical development, training and operational readiness for future production facilities.
This initiative also allows Nano One to align with Canada’s automotive, defence and critical minerals strategies. The country’s Critical Minerals List identifies the importance of LFP and its feedstock materials1. By connecting Canadian upstream resources with midstream processing, through to downstream cell manufacturing to support end-use applications such as ESS, EV and defence, the DevCo Project will support the nation’s objective to capture more value from its critical minerals, build resilient industrial capacity and a regionalized supply chain, as well as advance a lower-carbon economy.
Building Canadian Feedstock Supply Chain
Nano One is focused on building shorter and more resilient supply chains for customers globally, as is reflected in its ongoing work with regional suppliers to develop battery-grade lithium carbonate, phosphoric acid and iron feedstocks, for the future production of LFP cathode materials. The Company is engaging with numerous suppliers in Canada at various stages of development, testing their materials and advancing through internal validation processes, involving both the Burnaby R&D centre and the Candiac demonstration facility.
While Canada has access to the feedstock materials required to produce LFP cathode, their quality, availability and stage of development vary. Nano One will be evaluating a range of suppliers to assess product quality, technical suitability and their ability to meet future demand.
The Company has placed a particular focus on iron feedstock. While Canada is a major supplier of iron ore, securing local iron feedstock with suitable characteristics is key to building up a regional supply chain—and that work continues to advance.
Nano One continues to evaluate lithium and phosphate supply options, where a broader range of potential sources is available. Potential suppliers and partners have provided samples for testing, and this qualification work is ongoing.
Development Work and Path to Deployment
Early development workstreams are underway. Work includes engineering of the standardized 25,000-tonne-per-year plant design, based on the One-Pot LFP CAM Package, which is supported in part by funding from Natural Resources Canada (“NRCan”), as announced on April 8, 2026. Customer qualification continues in parallel at the Candiac facility.
The Canada DevCo advances the global LFP strategy outlined in Nano One’s August 26, 2026 news release, with each project intended to be financed on its own merits through a combination of government and private investment. The Company expects to provide further updates as site evaluation, supply chain qualification and partner discussions progress.
About Nano One®
Nano One® Materials Corp. (Nano One) is a process technology company changing how cathode active materials (CAMs) are produced for lithium-ion batteries. Nano One’s platform is built on a portfolio of patented processes, decades of manufacturing know-how and modular plant designs that enable scalable, cost-competitive and easier-to-permit CAM production with resilient supply chains. The technology eliminates wastewater and byproducts while enabling regionally sourced raw materials and reducing exposure to foreign supply chain volatility. Modular plants are designed with fewer steps to reduce capex, energy and environmental intensity and to accelerate deployment, manufacturing and licensing. Product development and process optimization are based at Nano One’s Innovation Centre in Burnaby, British Columbia while piloting, demonstration and commercial production are based in Candiac, Québec, supported by a team with more than 15 years of commercial cathode manufacturing experience supplying global cell manufacturers. Strategic collaborations with global partners including Sumitomo Metal Mining, Rio Tinto and Worley support Nano One’s Design-One-Build-Many growth strategy. Nano One has received funding support from the Governments of Canada, the United States, Québec and British Columbia.
For more information, please visit nanoOne.ca.
Cautionary Notes and Forward-Looking Statements
Certain information contained herein may constitute “forward-looking information” and “forward-looking statements” within the meaning of applicable securities legislation. All statements, other than statements of historical fact, are forward-looking statements. Forward-looking information in this news release includes, but is not limited to: the Company’s strategy to deploy LFP cathode production in Canada through the advancement and establishment of the Canada DevCo; the anticipated structure, benefits and financing of the DevCo model, including the ability to pair Nano One’s technology, engineering and services with partners contributing construction capital and offtake, and the financing of projects on their own merits through a combination of government and private investment; the proposed 25 ktpa cathode production facility and the potential expansion to up to 100 ktpa of production capacity; the conduct and outcomes of site evaluation studies, including the identification of preferred site options, the assessment of access to utilities, infrastructure and permitting roadmaps, and the preparation of operational site options; early development workstreams, including engineering of the standardized 25,000-tonne-per-year plant design and the receipt of announced anticipated funding from the Government of Canada/NRCan and other government related grants and loans; customer qualification activities at the Candiac Facility and the application of experience from its operation to future production facilities; the progression and outcomes of discussions and engagements with potential customers, strategic partners, suppliers and government stakeholders; the qualification of regional suppliers of lithium carbonate, phosphoric acid, iron and plant equipment and the establishment of a Canadian and allied supply chain; the ability of the Project to serve ESS, EV and defence markets; the anticipated benefits of Canadian industrial power costs, low-carbon electricity and regional access to input materials, and alignment with Canadian automotive, defence and critical minerals strategies; and the Company’s expectation to provide further updates. Generally, forward-looking information can be identified by the use of terminology such as ‘believe’, ‘expect’, ‘anticipate’, ‘plan’, ‘intend’, ‘continue’, ‘estimate’, ‘may’, ‘will’, ‘should’, ‘ongoing’, ‘target’, ‘goal’, ‘encouraged’, ‘projected’, ‘potential’ or variations of such words and phrases or statements that certain actions, events or results “will” occur.
Forward-looking statements are based on the current opinions and estimates of management as of the date such statements are made and are not, and cannot be, a guarantee of future results or events. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information, including but not limited to: receipt of the total amount of announced anticipated funding from the Government of Canada/NRCan and other government related grants and loans; use of proceeds; the quality, availability and stage of development of Canadian feedstock suppliers of lithium carbonate, phosphoric acid and iron meeting the Company’s requirements, technical specifications and timelines; the outcomes of the site evaluation study and the Company’s ability to identify and secure a suitable site on acceptable terms and timelines, including with respect to permitting; ongoing product and process improvement and innovations as potential additional revenue opportunities for the Company; the Company’s efforts to de-risk regional supply chains for the Project and its partners; general and global economic and regulatory changes; next steps and timely execution of the Company’s business plans; the development of technology, supply chains, and plans for construction and operation of cathode production facilities; risks relating to cost overruns, delays, and execution challenges associated with engineering, procurement, construction, and scale-up activities; successful current or future collaborations that may happen with OEMs, miners or others; the execution of the Company’s plans which are contingent on capital sources; the Company’s ability to achieve its stated goals; the commercialization of the Company’s technology and patents via license, joint venture and independent production; the Company’s efforts to build resilient and sustainable supply chains for critical minerals and battery materials; anticipated global demand and projected growth for LFP batteries; and other risk factors as identified in Nano One’s Annual Information Form dated March 25, 2026, for the year ended December 31, 2025, its MD&A for the year then ended, and in recent securities filings for the Company which are available at www.sedarplus.ca. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. The Company does not undertake any obligation to update any forward-looking statements or forward-looking information that is incorporated by reference herein, except as required by applicable securities laws. Investors should not place undue reliance on forward-looking statements.
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1 Government of Canada, “Government of Canada Releases Updated Critical Minerals List,” June 10, 2024. https://www.canada.ca/en/natural-resources-canada/news/2024/06/government-of-canada-releases-updated-critical-minerals-list.html |
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