Nano One and Sumitomo Metal Mining Advance Collaboration on LFP Commercialization

Rhea-AI Summary

Nano One Materials (OTCQB:NNOMF) announces significant progress in its strategic partnership with Sumitomo Metal Mining (SMM) for commercializing lithium iron phosphate (LFP) cathode materials. Following SMM's C$16.9 million investment in September 2023, the collaboration has yielded positive results in product evaluation, performance testing, and economic modeling of Nano One's proprietary One-Pot™ technology.

SMM, with US$11 billion in sales and US$21 billion in assets, confirms Nano One as a key technology partner in its LFP growth strategy. The partnership aims to address the global shift towards LFP chemistries, projected to capture 50% market share in the next decade. The collaboration will now expand to pursue LFP production opportunities with target strategic customers.

Positive

• Strategic partnership with major player SMM (US$11B in sales, US$21B in assets) validates Nano One's technology
• Successful completion of development work, trials, and economic modeling
• C$16.9 million strategic investment from SMM demonstrates strong commitment
• Expansion of collaboration to pursue commercial production opportunities
• Targeting fast-growing LFP market projected to reach 50% market share

Negative

• No immediate revenue generation announced from the partnership
• Commercialization timeline and specific production targets not disclosed

Highlights

• Sumitomo Metal Mining ("SMM") confirms Nano One as a key technology partner as it advances its growth strategy for lithium iron phosphate ("LFP") cathodes.

• Results from development work and trials, economic modeling and IP review have been positive, thus giving SMM a high degree of confidence in Nano One's proprietary One-Pot™ LFP technology.

• Nano One and SMM will now be expanding their collaboration to pursue LFP production opportunities with target strategic customers.

VANCOUVER, BC / ACCESS Newswire / September 17, 2025 / (TSX:NANO)(OTCQB:NNOMF)(Frankfurt:LBMB)

Video Link¹: Alex Holmes, COO of Nano One announces partnership update with SMM.

Nano One® Materials Corp. ("Nano One" or the "Company"), a process technology company specializing in lithium-ion battery cathode active materials ("CAM"), is pleased to report on the latest progress with its strategic partner, Sumitomo Metal Mining Co. Ltd., an integrated mining, refining and CAM manufacturing company, headquartered in Japan and operating globally across fourteen countries, supplying international Tier 1 automotive companies and battery cell manufacturers.

Munekazu Kawata, Executive Officer, General Manager of Battery Materials Division of SMM said, "We are pleased to share on behalf of Sumitomo Metal Mining, our high degree of confidence in the One-Pot process for the production of cathode active materials, including lithium iron phosphate. We are committed to investing in and offering cost-effective production of CAM to our customers while minimizing energy intensity, wastewater, and supply chain uncertainty, and this led us to Nano One as a key technology partner in achieving this objective. After much due diligence, we are convinced that its technology is a high-quality, cost-effective manufacturing solution, and we are working closely to expand our collaboration and marketing efforts to jointly address the global shift towards LFP chemistries in the lithium battery sector."

In September 2023, SMM completed a C$16.9 million investment in Nano One and entered into a strategic collaboration agreement with the objective of commercializing Nano One's One-Pot technology. The collaboration has been focused on LFP, including product evaluation, performance testing, economic scenario modeling, extensive intellectual property review, as well as process technology trials in Japan. The partnership has further deepened with increased confidence and as a result, this progress has now bolstered SMM's conviction in the path towards commercialization.

SMM has a long history in critical minerals mining and refining with approximately US$11 billion in sales and over US$21 billion in assets (FY 2024). They are Japan's largest supplier of lithium nickel cobalt aluminum oxide battery materials, a ternary cathode chemistry, and in the iron phosphate chemistry segment, have in recent years acquired Sumitomo Osaka Cement's LFP cathode plant in Vietnam. They continue to advance and expand their battery materials business to meet the continued global growth of the market. SMM brings Tier 1 supplier experience to the partnership with Nano One, international operating expertise and complementary LFP know-how. They are committed to providing large, secure supplies of LFP cathode materials in markets around the world.

There is now a widely accepted global shift towards LFP as a dominant cathode chemistry, with global projections of 50% of market share in the next decade². This is driven by LFP being the lowest cost, safest and most durable lithium-ion battery chemistry - with those performance characteristics, LFP batteries can now compete on range with ternary nickel-based chemistry battery materials. The LFP chemistry also benefits from the simpler formulation of the material that can be mass-produced with economies of scale, which cannot necessarily be matched by the fragmented nickel-based NMC cathode market, where specialized and proprietary formulations limit market share to single digit percentages.

Mr. Alex Holmes, COO of Nano One said, "Current market dynamics amplify the strategic value of our technology in enabling the economic localization of cathode materials supply chains. The combined experience and collaboration between Sumitomo Metal Mining and Nano One over the past two years has led us to this significant milestone in our partnership. We continue to execute successfully on our joint objectives, and we are confident our partnership will lead to future commercial production opportunities that will accelerate the adoption of LFP and global supply chain security."

¹ Video Link: https://youtu.be/n2Aq28UNBwg

² Bloomberg New Energy Finance, (BNEF) "Lithium-Ion Batteries: State of the Industry 2024"

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About Nano One®
Nano One® Materials Corp. (Nano One) is a technology company changing how the world makes cathode active materials for lithium-ion batteries. Applications include stationary energy storage systems (ESS), portable electronics, and electric vehicles (EVs). The Company's patented One-Pot process reduces costs, is easier-to-permit, lowers energy intensity, environmental footprint and reliance on problematic supply chains. The Company is supporting the drive towards energy security, supply chain resilience, industrial competitiveness and increased performance through process innovation. Production is being piloted and demonstrated in Candiac, Quebec, drawing on existing plant and decades of commercial lithium-iron-phosphate (LFP) manufacturing experience. Strategic collaborations and partnerships with international companies like Sumitomo Metal Mining, Rio Tinto and Worley are supporting a design-one-build-many licensing growth strategy-delivering cost-competitive, easier-to-permit and faster-to-market battery materials production solutions worldwide. Nano One has received funding from the Government of Canada, the Government of the United States, the Government of Québec, and the Government of British Columbia. For more information, please visit www.nanoone.ca

Company Contact:
Paul Guedes
info@nanoone.ca
+1 (604) 420-2041

Cautionary Notes and Forward-Looking Statements
Certain information contained herein may constitute "forward-looking information" and "forward-looking statements" within the meaning of applicable securities legislation. All statements, other than statements of historical fact, are forward-looking statements. Forward-looking information in this news release includes, but is not limited to: successful continuations of the collaboration with SMM; the development of technology, supply chains, and plans for construction and operation of cathode production facilities; industry acceleration and demand; successful current and future collaborations that are/may happen with OEMs, miners or others; the functions and intended benefits of the Company's technology and products; the development of Nano One's technology and products; achieving commercial production of LFP; the Company's licensing, supply chain, joint venture opportunities and potential royalty arrangements; the purpose for expanding the Candiac facilities and scalability of developed technology; and the execution of the Company's plans - which are contingent on capital support and grants. Generally, forward-looking information can be identified by the use of terminology such as 'believe', 'expect', 'anticipate', 'plan', 'intend', 'continue', 'estimate', 'may', 'will', 'should', 'ongoing', 'target', 'goal', 'encouraged', 'projected', 'potential' or variations of such words and phrases or statements that certain actions, events or results "will" occur. Forward-looking statements are based on the current opinions and estimates of management as of the date such statements are made are not, and cannot be, a guarantee of future results or events. Forward-looking statements 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 but not limited to: general and global economic and regulatory changes; next steps and timely execution of the Company's business plans; the development of technology, supply chains, and plans for construction and operation of cathode production facilities; successful current or future collaborations that may happen with OEMs, miners or others; the execution of the Company's plans which are contingent on capital sources; the Company's ability to achieve its stated goals; the commercialization of the Company's technology and patents via license, joint venture and independent production; anticipated global demand and projected growth for LFP batteries; and other risk factors as identified in Nano One's Annual Information Form dated March 25, 2025, for the year ended December 31, 2024, its MD&A for the six months ended June 30, 2025 and in recent securities filings for the Company which are available at www.sedarplus.ca. 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 any obligation to update any forward-looking statements or forward-looking information that is incorporated by reference herein, except as required by applicable securities laws. Investors should not place undue reliance on forward-looking statements.

SOURCE: Nano One Materials Corp.

View the original press release on ACCESS Newswire

FAQ

What is the strategic partnership between Nano One (NNOMF) and Sumitomo Metal Mining?

The partnership focuses on commercializing Nano One's One-Pot™ technology for LFP cathode materials production, following SMM's C$16.9 million investment in September 2023. SMM has confirmed Nano One as a key technology partner for its LFP growth strategy.

How much did Sumitomo Metal Mining invest in Nano One (NNOMF)?

Sumitomo Metal Mining invested C$16.9 million in Nano One in September 2023 as part of their strategic collaboration agreement.

What is the market potential for LFP batteries according to the Nano One announcement?

According to Bloomberg New Energy Finance, LFP batteries are projected to capture 50% market share in the next decade, driven by their lower cost, safety features, and durability.

What are Sumitomo Metal Mining's financial metrics mentioned in the partnership announcement?

Sumitomo Metal Mining reported approximately US$11 billion in sales and over US$21 billion in assets for FY 2024.

What has been achieved in the Nano One and Sumitomo Metal Mining collaboration so far?

The collaboration has completed successful product evaluation, performance testing, economic scenario modeling, extensive IP review, and process technology trials in Japan, leading to increased confidence in commercialization prospects.