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Cleantech
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Globe Cleantech Forum, Nano One progressSpent the last 3 days at Globe Forum in Vancouver tapping in to cleantech stories. At the same forum 2 years ago the crowds were bigger but this time there seemed to be more of the venture money types in attendance. Some of the larger Silicon valley venture outfits, like Y Combinator, are upping their ante into clean tech. Lots of young energy at the Forum. The best investment ideas seemed to be with private companies, some with remarkable tech breakthroughs. Some public companies were in attendance too, Questor and Xebec, mentioned here before, among them. I talked to CEO Dan Blondal of Nano One. Their stock has doubled this year and is a 7 bagger since the 2016 Globe Forum where I first encountered them. They have accomplished a lot in the 2 years since and I think are on the cusp of bigger things including first significant revenue. A licensing deal for a 3300 t per year cathode operation of the kind they are shopping Blondal said would generate about $5 million, a nice starter. Nano is a research and pilot trial company with relatively low overhead. They are financed through 2019. They are focusing first on licensing deals but are also talking joint ventures. Their most advanced, ready for commercialization chemistries are an NCA type, NMC 622 and NMC811. Their fabrication process is much quicker than what’s in use now and also allows use of lithium carbonate instead of hydroxide, both significant cost advantages. It also allows use of complex layering, coatings and dopants that improve stability and solid state applications. Blondal said they are negotiating with auto majors, battery companies and cathode material suppliers. They anticipate a licensing deal this year which should bump the stock up. Even more interesting are the cathode materials they have in the works. Blondal anticipates a cobalt crunch and eventual switch over to non cobalt EV batteries. They are positioning with low or no cobalt alternatives including their recently announced spinel material which is particularly suited for solid state batteries. Blondal said that LFP batteries are under active development on many fronts with BYD leading the way. Nano too is making good progress with new LFP cathode chemistries. |
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