VANCOUVER, British Columbia, Sept 11 —Nano One® Materials Corp. (“Nano One” or the “Company”) (TSX: NANO) (OTCQB: NNOMF) (Frankfurt: LBMB), a process technology company specializing in lithium-ion battery cathode active materials, is advancing its first Development Company (“Canada DevCo” or the “Project”) as part of its strategy to deploy lithium iron phosphate (“LFP”) cathode production in Canada.
The Company has begun a site evaluation study to assess potential locations for a proposed 25 ktpa cathode production facility, with a potential expansion to up to 100 ktpa of production capacity. The Project aims to serve ESS, EV and defence markets in Canada and internationally. The study aims to identify preferred site options and assess factors such as access to utilities and key infrastructure, as well as relevant permitting roadmaps. The work will allow Nano One to prepare operational site options, which will be key in the ongoing discussions and engagements with potential customers and strategic partners.
“We are pleased to be advancing our first Development Company Project, which aims to expand Nano One’s operational footprint beyond our existing Candiac Facility,” said Denis Geoffroy, COO of Nano One. “There is increasing market pull from customers for the industry to deliver LFP cathode active materials from a regionally focused and resilient supply chain. LFP cathode is a critical material needed in the production of lithium batteries for ESS, EV and defence applications. Discussions with potential strategic partners and customers for Canada DevCo are progressing.”
Canadian Advantages and Strategic Alignment
Canada offers competitive industrial power costs and one of the lowest-carbon electricity grids globally. This, along with regional access to key input materials, positions Nano One well to build LFP cathode production in Canada. The Canada DevCo Project will draw on experience from operating the Candiac Facility, which will support technical development, training and operational readiness for future production facilities.
This initiative also allows Nano One to align with Canada’s automotive, defence and critical minerals strategies. The country’s Critical Minerals List identifies the importance of LFP and its feedstock materials1. By connecting Canadian upstream resources with midstream processing, through to downstream cell manufacturing to support end-use applications such as ESS, EV and defence, the DevCo Project will support the nation’s objective to capture more value from its critical minerals, build resilient industrial capacity and a regionalized supply chain, as well as advance a lower-carbon economy.
Building Canadian Feedstock Supply Chain
Nano One is focused on building shorter and more resilient supply chains for customers globally, as is reflected in its ongoing work with regional suppliers to develop battery-grade lithium carbonate, phosphoric acid and iron feedstocks, for the future production of LFP cathode materials. The Company is engaging with numerous suppliers in Canada at various stages of development, testing their materials and advancing through internal validation processes, involving both the Burnaby R&D centre and the Candiac demonstration facility.
While Canada has access to the feedstock materials required to produce LFP cathode, their quality, availability and stage of development vary. Nano One will be evaluating a range of suppliers to assess product quality, technical suitability and their ability to meet future demand.
The Company has placed a particular focus on iron feedstock. While Canada is a major supplier of iron ore, securing local iron feedstock with suitable characteristics is key to building up a regional supply chain—and that work continues to advance.
Nano One continues to evaluate lithium and phosphate supply options, where a broader range of potential sources is available. Potential suppliers and partners have provided samples for testing, and this qualification work is ongoing.
Development Work and Path to Deployment
Early development workstreams are underway. Work includes engineering of the standardized 25,000-tonne-per-year plant design, based on the One-Pot LFP CAM Package, which is supported in part by funding from Natural Resources Canada (“NRCan”), as announced on April 8, 2026. Customer qualification continues in parallel at the Candiac facility.
The Canada DevCo advances the global LFP strategy outlined in Nano One’s August 26, 2026 news release, with each project intended to be financed on its own merits through a combination of government and private investment. The Company expects to provide further updates as site evaluation, supply chain qualification and partner discussions progress.