Nano One Awarded $12.9M by US Department of Defense for LFP Production Expansion

Nano One Materials Corp. has secured a US$12.9 million grant from the US Department of Defense under its Title III program. The funds aim to expand the company's Candiac, Quebec lithium iron phosphate (LFP) production facility, reinforcing energy security in North America.

The investment will bolster the capacity at North America's sole LFP production facility and support ongoing work at Nano One's Burnaby, British Columbia site. This initiative focuses on accelerating a resilient LFP battery supply chain, vital for the defense sector.

CEO Dan Blondal emphasized the strategic importance of the grant, highlighting the company's innovative "One-Pot" process that merges precursor CAM and CAM production, cutting costs and enhancing scalability. Nano One plans to use the funds to validate its technology and enhance its commercial prospects.

The award underscores the growing importance of LFP technology in the global market, which offers advantages in cost, safety, and environmental impact. This move also aligns with efforts by North America to establish a secure and independent supply chain in response to China's dominance in LFP production.