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 exhibiting a rising curiosity in LFP battery cells, as they are typically cheaper than these utilizing NMC and different chemistries, and use no controversial cobalt. A lot of the cells utilizing LFP are presently produced in China, so an LFP facility in North America might 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 yr, 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 creating new manufacturing processes for a wide range 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 know-how and grow to be a frontrunner,” mentioned Nano One CEO Dan Blondal. “Skilled workers are on the core of this deal and can assist fast-track Nano One’s studying curve. The ability is in Larger Montreal and strategically positioned in proximity to workers, worldwide airports, main port amenities and is a vital hyperlink within the mines-to-mobility initiative. This enhances Nano One’s know-how innovation middle and group in Burnaby, British Columbia, and is an ideal base for the development, growth and acceleration of our commercialization technique.”
“We have now labored with Nano One on various tasks over the past yr and having seen their improvements, we consider they’ve the potential to develop the Candiac web site in one of the simplest ways attainable,” mentioned Liam Condon, Chief Govt of Johnson Matthey.