Investment in BC-based nanotechnology will improve the performance and cost of lithium batteries

May 31, 2019

SDTC investment advances the adoption of clean technology

May 31, 2019 – Vancouver, BC – Sustainable Development Technology Canada (SDTC)

Canada is an international leader in developing clean technology that supports economic growth, creates jobs and protects the environment. In order to remain globally competitive in the quickly growing trillion dollar industry, the Government of Canada has prioritized investments in cleantech, allowing Canadian companies to innovate and scale up.

Today, the Honourable Jonathan Wilkinson, Canada’s Minister of Fisheries, Oceans and the Canadian Coast Guard and Member of Parliament for North Vancouver, BC, on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development, announced an investment of $5 million in Vancouver-based cleantech company Nano One to advance the development of innovative lithium ion batteries. The funding is being provided by Sustainable Development Technology Canada (SDTC), which works with Canadian companies to bring clean technologies to market.

Nano One is a Canadian technology company with a scalable industrial process for producing low cost, high performance lithium ion batteries that can be used in electric cars, consumer electronics and other renewable energy storage. The company’s innovative battery technology decreases energy input, reduces water use, improves adoption of cleaner technologies and lowers greenhouse gases. The unique process is engineered for high volume production and rapid commercialization, helping to maintain 25 jobs and create up to 5 additional jobs.

Investments in clean technology are part of the Government’s Innovation and Skills Plan, a multi-year strategy to position Canada as a global leader in innovation and create good middle-class jobs right across the country.

Quotes

“The world is at a pivotal moment, when the global transition to a clean energy economy is among the great challenges – and opportunities – of our lifetime. Our government is working hard to build a cleaner, brighter, and more prosperous future that will help Canadians save energy, reduce pollution, and put more money in their pockets. I’m thrilled to see companies like Nano One boldly pushing the needle toward greater adoption of clean technologies.”

–The Honourable Jonathan Wilkinson, Canada’s Minister of Fisheries, Oceans and the Canadian Coast Guard

“Clean technology is about more than any one sector—when we support clean technology, we support our entire economy, creating good jobs while helping to protect our environment. Today’s investment in Nano One will help solve the world’s biggest environmental problems, both at home and around the world.”

– The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development

“To lower greenhouse gas emissions, we must make it easier for Canadians to adopt new clean technologies. Nano One is leading that change through its low-cost production of high performance lithium ion battery materials, which are broadly used in electric vehicles, renewable energy storage and consumer electronics.”

–Leah Lawrence, President and CEO, Sustainable Development Technology Canada

“SDTC is globally recognized for their expertise in cleantech investment and this funding will support us in accelerating partnership activities and growing our business. As this will be Nano One’s second round of SDTC support, it represents a strong endorsement of Nano One’s track record and its strategic relationships with multinational manufacturers and OEMs. We are honoured to have earned SDTC’s confidence for renewed support toward these partnership and growth activities”

–Dan Blondal, CEO and Founder, Nano One Materials Corp.

Quick facts
• This investment builds upon an initial $2 million in seed funding provided by SDTC in 2015 to support Nano One’s pilot plant producing battery materials for electric vehicles.
• Canada is number one in the G20 for cleantech innovation. In January 2019, 12 Canadian companies were recognized on the 2019 Global Cleantech 100 List. One in ten companies named to the annual Global Cleantech 100 List have been funded by SDTC.
• The clean technology market is set to exceed $2.5 trillion in the next four years.
• SDTC is an arms-length foundation created by the Government of Canada to support Canadian companies with the potential to become world leaders as they develop and demonstrate new technologies to address some of our most pressing environmental challenges.
• SDTC has invested more than a billion dollars in hundreds of ideas at more than 300 companies. These companies are creating more than 12,000 well-paying jobs, and reducing greenhouse gas emissions by 13.8 megatonnes of carbon dioxide equivalent annually.

Associated links
• Sustainable Development Technology Canada
• Government of Canada’s Measures to Support Clean Technology Backgrounder
• Nano One Fact Sheet

Follow Sustainable Development Technology Canada on Twitter: @SDTC-TDDC