Nano One Materials Corp of Burnaby, BC has announced that it has entered into a binding agreement to acquire all of the outstanding shares of Johnson Matthey Battery Material Ltd (JMBM) for approximately CDN$10.25 million.
JMBM Canada comprises an experienced team, including research & development, pilot to commercial scale cathode production and products qualification and quality assurance systems qualified for tier 1 automotive lithium-ion cell manufacturers. The company also includes a 2,400/tonne capacity LFP (lithium iron phosphate) production facility located in Candiac, QC occupying approximately one-tenth of the 400,000 sq ft property.
The transaction is expected to be completed by the end of 2022, subject to JMBM Canada fulfilling contractual commitments and certain other closing conditions.
Liam Condon, Johnson Matthey’s CEO, said, “We have worked with Nano One on a number of projects over the last year and having seen their innovations, we believe they have the potential to develop the Candiac site in the best way possible. We remain at the Candiac site until the end of the year and are fully committed to serving the needs of our customers.”
Volume 36, Issue 10