Nano One Reports Q1 2024 Results

VANCOUVER, BC / ACCESSWIRE / May 15, 2024 / (TSX:NANO)(OTC PINK:NNOMF)(FRA:LBMB)

2024 Q1 and Subsequent - Highlights and Headlines

• Cash and cash equivalents of $23.1 million at period end.
• Working capital of $21.2 million at period end.
• Strategic Alliance Agreement and License Agreement with Worley, a global engineering leader in sustainability solutions to develop, market, and deploy One-Pot enabled cathode plant design. License Agreement to govern licensing, fees, and other remuneration to both parties.
• Feasibility Study (FEL 3), optimization and product validation all underway with goal of generating sales revenues from existing assets in Candiac, securing larger offtakes that drive growth, and informing the design, marketing, licensing, and deployment of future CAM Packages.

Nano One Materials Corp. ("Nano One" or the "Company") is a clean technology company with patented processes for the production of lithium-ion battery cathode active materials ("CAM") that enable secure and resilient supply chains by driving down cost, complexity, energy intensity, and environmental footprint. Nano One has filed its condensed interim consolidated financial statements (the "financial statements"), and management's discussion & analysis ("MD&A") as at and for the three months ended March 31, 2024 ("2024 Q1") and is pleased to provide the following highlights.

License and Alliance Agreement with Worley Chemetics

On May 1, 2024, Nano One entered into a Strategic Alliance Agreement and License Agreement with Worley Chemetics (a wholly owned Canadian subsidiary of Worley Limited, a global engineering leader in sustainability solutions). Under the Strategic Alliance Agreement, Nano One and Worley will jointly develop, market, and deploy One-Pot process enabled cathode plant designs, helping accelerate the deployment of One-Pot process LFP production and other cathode chemistries. Nano One and Worley will jointly develop a CAM package that incorporates Nano One's One-Pot process into a modular process engineering design package with intellectual property rights, flow sheets, detailed engineering, the operational know-how of both parties, and applicable proprietary equipment.