VANCOUVER, British Columbia, Nov. 23, 2015 (GLOBE NEWSWIRE) -- Nano One Materials Corp. ("Nano One" or the "Company") (TSX-V: NNO ) is pleased to announce that work has been completed on the conceptual design and cost estimate for a commercial facility that produces lithium ion battery cathode materials. The study was developed and delivered to Nano One by BC Research Inc. ("BCRI") and its parent NORAM Engineering and Constructors Ltd. ("NORAM").
BCRI Director and NORAM VP Dr. Clive Brereton said, "The conceptual design of a commercial scale facility is essential at this stage. We were able to optimize flow and identify significant cost saving opportunities. The result is a concept that informs piloting and that will encourage commercial adoption through simplification and risk mitigation. At this point we do not see any technical impediments to scale-up and look forward to working in collaboration with Nano One to advance this project to the next stage."
As reported on April 16, 2015, this study was launched and had the financial support of Canada's National Research Council Industrial Research Assistance Program ("NRC-IRAP"). Outcomes of this study included process flow diagrams (PFD), a versatile chemical stream model and cost estimates of equipment, installation and operation of a full commercial system operating at approximately 10,000 kg/day.
The study confirms Nano One's confidence in its scale-up plans and provides opportunities to grow its portfolio of intellectual property. These innovations are part of a framework to reduce costs through feedstock management, equipment selection, recycling, utilities optimization, water handling and effluent disposal. The report also provides guidelines for developing a pilot plant with critical steps and scale identified for the purposes of demonstrating the process.
Nano One will continue to work collaboratively with BCRI and NORAM in scoping, designing, constructing and demonstrating a pilot plant that can be used confidently for the design of a commercial scale plant.
Nano One CEO, Dan Blondal, added that, "BCRI's study confirms our scalability and is informing our plans to commercialize the technology. This gives our technology industrial credibility and we believe it will give potential collaborators and key market pull players confidence in our technology, team and ability to deliver."
NANO ONE MATERIALS CORP.
Dan Blondal , CEO
For information with respect to Nano One or the contents of this news release, please contact John Lando (President) at (604) 669-2701 or visit the website at www.nanoone.ca .
About Nano One
Nano One Materials Corp is focused on developing novel, scalable and low-cost processing technology for the production of high performance battery materials. The technology can be configured for a wide range of raw materials with the flexibility to shift with market trends and growth opportunities in other advanced nanostructured composite materials. The novel three-stage process uses equipment common to industry and is being engineered for high volume production and rapid commercialization. The patent portfolio demonstrates value to potential strategic partners. Nano One's mission is to establish its patented technology as a leading platform for the global production of a new generation of nanostructured composite materials.
About NORAM and BCRI
NORAM and BCRI have a global reputation for innovation and excellence in the supply of proprietary engineering and equipment packages to the chemical, pulp and paper, minerals processing and electrochemical sectors. Their six specialized business groups have completed capital projects on five continents. They are recognized worldwide as a leader in the fields of nitration, sulfuric acid and electrochemistry.
In addition to carrying out large assignments for major multi-national clients and municipalities, NORAM and BCRI work with early-stage technology companies. They provide engineering design and fabrication support, sharing their experience in technology commercialization, and growing with companies as a strategic stakeholder.
About NRC-IRAP
National Research Council – Industrial Research Assistance Program ("NRC-IRAP") is Canada's premier innovation assistance program for small and medium-sized enterprises. For over 60 years, NRC-IRAP has been stimulating wealth creation for Canada through technological innovation. This is largely accomplished by providing technology assistance and financial support to small and medium-sized enterprises at all stages of the innovation process, to build their innovation capacity. NRC-IRAP helps small and medium-sized enterprises understand the technology issues and opportunities and provides linkages to the best expertise in Canada.
Certain information contained herein may constitute "forward-looking information" under Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the commercialization of the Company's technology and patents. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "expects" or "it is expected", or variations of such words and phrases or statements that certain actions, events or results "will" occur. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they 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: the receipt of all necessary regulatory approvals. 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 to update any forward-looking statements or forward-looking information that is incorporated by reference herein, except as required by applicable securities laws.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.
