Sumitomo Metal invests $12.5M in Nano One

Japanese cathode active materials (CAM) company Sumitomo Metal is making a multimillion-dollar strategic investment in Canadian tech company Nano One.

Sumitomo Metal invests $12.5M in Nano One Sumitomo Metal invests $12.5M in Nano One Sumitomo Metal invests $12.5M in Nano One Sumitomo Metal invests $12.5M in Nano One Sumitomo Metal invests $12.5M in Nano One

The One Pot technology will lead to lower-cost CAM production with the added benefit of reduced environmental impacts. Photo: Nano One

The US$12.5 million (C$16.9M) will fund the development of a manufacturing technology for lithium-ion battery cathode materials needed for electric vehicles.