Canadian battery developer Nano One and mining group Rio Tinto have signed a strategic partnership to supply iron and lithium products, a collaboration and a $10 million investment in Nano One. The partnership and funding are expected to accelerate Nano One’s multicathode commercialization strategy and support the production of active cathode materials in Canada.
Nano One plans to use its patented “One Pot Process” and metal-cathode active material (M2CAM) technologies to form a unique manufacturing platform that enables nickel-rich (NMC), iron-rich (LFP ) and manganese (LNMO) lithium-ion cathode active materials to be manufactured sulfate-free from a range of battery metal sources with fewer steps, lower costs, less complexity and a much lower environmental footprint .
Rio Tinto’s investment will allow them to acquire approximately 4.9% of Nano One’s total shares. In addition to planned technology and supply chain development and product commercialization, Nano One also plans to acquire the Candiac plant in Quebec. Their strategic collaboration will begin with a study of Rio Tinto’s battery metal products, including iron powders from the Rio Tinto Fer et Titane plant in Sorel-Tracy, Quebec, as feedstock for the production of Nano’s cathode materials. One.
“The global transition to an electrified, low-carbon economy will require millions of tons of battery materials, so it is critically important to produce these materials efficiently and with the lowest environmental footprint. Rio’s partnership and support Tinto complement our recently announced acquisition of Johnson Matthey’s LFP business in the nearby community of Candiac, Quebec, and amplify the Government of Canada’s Mining to Mobility initiative, which aims to encourage a localized battery ecosystem for serve all of North America,” said Dan Blondal, CEO of Nano One, adding, “Rio Tinto brings deep experience in high-volume production and technology commercialization, as well as a business growing world of battery metals. We are delighted to partner with Rio Tinto, our shared vision will see many opportunities for collaboration. ation as we drive for change.
This is not Nano One’s first partnership in this field, as the company also recently announced a joint development agreement with BASF for the development of cathode materials. The company had also recently taken over the battery business from Johnson Matthey.
Rio Tinto had recently lost a lithium mining contract in Serbia, which was surprisingly canceled at the last minute, citing environmental concerns. Around the same time, Serbian tennis star Novak Djokovic had also gotten into trouble in Rio Tinto’s native Australia over Covid-19 regulations, which may have also affected public perception of the game. ‘company.