Sumitomo invests in Nano One for battery materials partnership

Nano One pilot reactor

Sumitomo invests in Nano One for battery materials partnership

Sumitomo invests in Nano One for battery materials partnership 977 699 Energy Storage Journal

September 27, 2023: Sumitomo Metal Mining is investing C$16.9 million ($12.5 million) in Nano One as part of a new battery materials development partnership.

The firms said on September 25 the equity investment boost was part of a collaboration that would have a particular focus on LFP and NMC production using Nano One’s patented One-Pot process.

Nano One has plans to build its first commercial LFP plant adjacent to its existing pilot facility in Candiac, Québec.

According to the partners, LFP is an important battery type that will capture a significant portion of the market in the years ahead — and can be produced in North America, Japan and other regions using the technology and know-how of both companies.

Sumitomo’s mining, smelting, refining and metals processing operation includes nickel-rich cathode materials for lithium ion battery and EV producers.

Last year, Sumitomo expanded its cathode active materials portfolio to include LFP.

The agreement with Sumitomo comes just over a year after mining giant Rio Tinto said it was investing $10 million in Nano One.

Last June, Nano One announced the signing of a joint development agreement with Our Next Energy for the validation, qualification and production of a North American supply of LFP CAM.

Photo: Nano One