- Nano One Materials (NANO) has agreed to acquire all of the outstanding shares of Johnson Matthey Battery Materials for $10.25 million
- The transaction is expected to close by the end of 2022
- Johnson Matthey is a leader in sustainable technologies
- Nano One produces high-performance lithium-ion battery cathode materials
- Nano One Materials Corp. (NANO) opened trading at C$1.54
Nano One Materials (NANO) has agreed to acquire all of the outstanding shares of Johnson Matthey Battery Materials for $10.25 million.
JMBM Canada includes a team with over 360 years of collective experience, including R&D, pilot to commercial scale cathode production and product qualification and quality assurance systems expertise for tier 1 automotive lithium-ion cell manufacturers.
JMBM Canada also includes a 2,400 tonne per annum capacity LFP production facility located in Candiac, Québec occupying approximately one tenth of the 400,000 square foot property.
The transaction is expected to close by the end of 2022, subject to JMBM Canada fulfilling contractual commitments and certain other customary closing conditions.
Nano One CEO Mr. Dan Blondal commented on the news.
“The rapidly expanding need for responsibly produced cathode materials in North America presents an opportunity for Nano One to deploy its technology and become a leader. We are excited to announce our agreement to acquire JMBM Canada. Experienced employees are at the core of this deal and will help fast-track Nano One’s learning curve. The facility is in Greater Montreal and strategically located in proximity to employees and their families, international airports, major port facilities and is a critical link in the mines-to-mobility initiative. This complements Nano One’s technology innovation center and team in Burnaby, British Columbia, and is a perfect base for the advancement, expansion and acceleration of our commercialization strategy. We now look forward to working with our colleagues at JMBM Canada for a smooth business transition later this year and sharing our vision and plans with all stakeholders in the coming weeks and months.”
Liam Condon, Chief Executive of Johnson Matthey, added,
“We have worked with Nano One on a number of projects over the last year and having seen their innovations, we believe they have the potential to develop the Candiac site in the best way possible. We remain at the Candiac site until the end of the year and are fully committed to serving the needs of our customers.”
The Candiac production facility was acquired by Johnson Matthey in 2015 and has been in operation since 2012. It is a supplier of lithium iron phosphate (LFP) cathode material to the lithium-ion battery sector for both automotive and non-automotive applications for a select group of customers. Strategically located in Candiac, Québec, it has the benefit of access to a North American ecosystem which will serve the broader global community with cost-effective, resilient, and environmentally sustainable cathode materials.
Johnson Matthey is a leader in sustainable technologies that enables a cleaner and healthier world.
Nano One is a clean technology company that produces high-performance lithium-ion battery cathode materials.
Nano One Materials Corp. (NANO) opened trading at C$1.54.
