Nano One launches new LFP feasibility study

Nano One launches new LFP feasibility study

Nano One launches new LFP feasibility study 1000 560 Energy Storage Journal

February 29, 2024: Nano One said on February 27 it had launched a new feasibility study into proposals to build its first commercial  lithium iron phosphate cells facility.

The company announced last October that a front-end loading pre-feasibility study (FEL 2) indicated it could add 25,000 tonnes per annum of LFP production at an expanded Candiac plant in Quebec — boosting the value of its proprietary One-Pot process.

The results of that study will be factored into the new study — FEL 3 — for which the tender has been awarded to Canadian engineering company BBA.

FEL 3 will look into the design of the 25,000 tpa plant and “further refine” capital and operating costs and the construction period required.

However, Nano One said talks with provincial and local governments had identified options for the plant to be built in Quebec and Ontario.

Key requirements before taking a final investment decision to build the plant would include customer offtake and feedstock supply agreements.

Chief operating officer Alex Holmes said the study would also inform proposals to potentially design and build similar facilities under licence or as joint ventures with partners around the world.

Meanwhile, Nano One will file a preliminary shelf prospectus potentially allowing it to make offerings of various financial securities, up to an aggregate total of C$175 million ($130 million), for an effective period of 25 months. 

The company said this would help provide the most flexible and efficient access to capital markets, if and when it is needed — but said it had no immediate plans to issue securities.

In February last year, Nano One said it had completed a key milestone in its cathode materials and techno-economic modelling process with an unnamed global auto manufacturer.

Last September, Sumitomo Metal Mining announced a C$17 million investment in Nano One as part of a new battery materials development partnership.