Battery cathode supplies specialist Nano One has introduced the acquisition of Johnson Matthey Battery Supplies (JMBM), a Canadian firm that operates one of many few LFP cathode manufacturing amenities in North America.
Nano One will purchase all the excellent shares of JMBM for a complete of $10.25 million Canadian ($8 million US). The deal contains the corporate’s LFP battery manufacturing capability in Candiac, Quebec.
Automakers are displaying a rising curiosity in LFP battery cells, as they are usually cheaper than these utilizing NMC and different chemistries, and use no controversial cobalt. Many of the cells utilizing LFP are presently produced in China, so an LFP facility in North America could possibly be a strategic asset.
JMBM has been offering lithium iron phosphate (LFP) cathode materials to “the lithium-ion battery sector for each automotive and non-automotive purposes for a choose group of shoppers.” Its facility presently has a reasonably small capability of two,400 tons per 12 months, however the manufacturing traces solely occupy about 10% of the 400,000 square-foot property.
Electrek’s Fred Lambert known as the acquisition “excellent news, since Nano One has deeper pockets and has been growing new manufacturing processes for quite a lot of battery chemistries, together with LFP cells.” Hopefully Nano One might help to construct a extra substantial LFP provide chain in North America.
“The quickly increasing want for responsibly produced cathode supplies in North America presents a chance for Nano One to deploy its expertise and develop into a pacesetter,” mentioned Nano One CEO Dan Blondal. “Skilled staff are on the core of this deal and can assist fast-track Nano One’s studying curve. The ability is in Higher Montreal and strategically situated in proximity to staff, worldwide airports, main port amenities and is a vital hyperlink within the mines-to-mobility initiative. This enhances Nano One’s expertise innovation middle and crew in Burnaby, British Columbia, and is an ideal base for the development, enlargement and acceleration of our commercialization technique.”
“Now we have labored with Nano One on numerous initiatives during the last 12 months and having seen their improvements, we imagine they’ve the potential to develop the Candiac website in one of the simplest ways potential,” mentioned Liam Condon, Chief Govt of Johnson Matthey.
Supply: Electrek, Johnson Matthey
