Earnings release
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Nano One Reports Q2 2026 Results and Highlights Non - Dilutive Funding and Policy Tailwinds Aug 12 , 2026 3:05 AM Eastern Daylight Time Share Second Quarter 2026 & Subsequent Results • The Company reported net assets of $ 18.2 million , working capital of $ 17.6 million and cash of $ 19.3 million for the end of the period • Candiac Facility expansion engineering 85 % complete , on schedule and on budget , supporting sales , licensing and joint venture opportunities under the Design One Build Many strategy • Over $ 63 million in non - dilutive capital secured since the beginning of 2024 , of which $ 12.3 million was government funding received in the first half of 2026 and approximately $ 20 million remains undrawn as at August 2026 • Strengthening battery materials policy support across Canada , the U.S. and allied jurisdictions reinforcing the Company's localized production and licensing strategy VANCOUVER , British Columbia -- ( BUSINESS WIRE ) -- Nano One® Materials Corp. ( " Nano One " or the " Company " ) has filed its condensed interim consolidated financial statements ( the " financial statements " ) and Management's Discussion & Analysis ( " MD & A " ) for the three and six months ended June 30 , 2026 ( " Q2 2026 " ) and is pleased to provide a summary and an update on subsequent events . For an overview of the Company's objectives for 2026 , please read the 2026 Corporate Objectives . Q2 2026 - Financial Position and Non - Dilutive Funding As at June 30 , 2026 , the Company reported total net assets and working capital of $ 18.2 million and $ 17.6 million respectively , with cash of $ 19.3 million . Cumulatively since the beginning of 2024 , Nano One has secured over $ 63 million in non - dilutive capital across government grants and loans , sale - leaseback proceeds and land sale proceeds . Government funding of $ 12.3 million received in the first half of 2026 limited the net use of cash for the six - month period to $ 4.3 million , and as at August 2026 the Company had approximately $ 20 million in undrawn government funding available for use in pre - commercial activities under existing grant agreements and programs . Subsequent to the quarter , the Company received grant proceeds of $ 1.0 million from Natural Resources Canada in July 2026 . Candiac Facility Expansion and Licensing Alignment As announced on July 23 , 2026 , detailed engineering for the Demonstration Line expansion was 85 % complete as of mid - July 2026 , with the project on schedule and on budget . Purchase orders for major equipment were completed in March 2026 , with initial deliveries received at the Candiac Facility , and purchase orders for the remaining smaller equipment are expected to be completed by the end of August 2026. Approximately 95 % of equipment by value - and 100 % of IP - sensitive equipment — is sourced from Canada , the United States and the European Union . The Candiac Facility comprises multiple front - end One - Pot production lines feeding shared downstream processing equipment , with total facility capacity of approximately 800 tonnes per annum once the expansion is commissioned , targeted for the first half of 2027. The expanded capacity will enable large - volume sampling to support larger customer contracts , plant design licensing and joint venture opportunities . This complements the One - Pot LFP CAM Package completed with Worley Chemetics in June 2026 , now being marketed as a ready - to - license design under the Company's Design One Build Many growth strategy .
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“Government partnerships have been foundational to Nano Oneʼs commercialization, and we are grateful for the continued backing of NRCan, Investissement Québec, the U.S. Department of Defense and the other agencies supporting this work,” said Alex Holmes, Chief Executive Officer of Nano One. “The policy environment across Canada, the United States and allied jurisdictions is increasingly aligned with what we are building—diversified, regionally resilient supply for critical battery materials. By leveraging our Candiac LFP cathode manufacturing facility and operational know-how, we're uniquely positioned to meet that demand. Licensing our process IP under Design One Build Many lets us scale capital-light—de- risking growth while maximizing value for shareholders.” Policy and Market Tailwinds Across Canada, the United States and allied jurisdictions, governments are adopting policy that recognizes the vulnerability of the battery materials supply chain and favours localization. Recent developments include: Critical minerals momentum across the G7 and allies: The Global Critical Minerals Action Plani, adopted under Canadaʼs 2025 G7 presidency, pledged to catalyze public and private investment in minerals, including through innovation and licensing. At the June 2026 G7 Leaders meeting under Franceʼs presidency, leaders reaffirmed the urgency of diversifying critical minerals supply chains and strengthening midstream and downstream industries, while NATO defence-spending commitments and dual-purpose defence-civilian strategies support localized supply chain ambitions Supply chain concentration risk: China placed export restrictions in 2025 on its LFP processing technologies, equipment and product. The International Energy Agencyʼs Global Critical Minerals Outlook 2026ii noted that LFP batteries represent over half of the global electric car battery market and over 90% of the battery energy storage market, and that new restrictions on LFP cathode materials could impede efforts to develop LFP production outside China U.S. policy support for localized battery materials: The 2025 U.S. National Defense Authorization Actiii prohibits batteries and battery components procured from prohibited foreign entities for the U.S. military starting in 2028, while the 45X manufacturing tax credit, maintained at $35/kWh, supports localized cathode active material production Canadian industrial strategies: Canadaʼs Defence Industrial Strategyiv, launched in February 2026, recognizes the importance of critical minerals, dual-use military and civilian applications and domestic suppliers, and Canadaʼs Auto Strategy aims to expand EV production and position Canada as a global leader in clean vehicle technologies In the United States, planned LFP capacity increased from about 180 GWh to nearly 290 GWh in 2025v, which will require a supply of more than 600,000 tonnes per annum of LFP CAM. Nano Oneʼs One-Pot technology is designed for this environment—cost-competitive, easier to permit and supported by regionally sourced input materials. For a more detailed discussion of Nano Oneʼs Q2 2026 interim quarterly results, please refer to the Companyʼs financial statements, and MD&A, which are available at www.sedarplus.ca. About Nano One® Nano One® Materials Corp. (Nano One) is a process technology company changing how cathode active materials (CAMs) are produced for lithium-ion batteries. Nano Oneʼs platform is built on a portfolio of patented processes, decades of manufacturing know-how and modular plant designs that enable scalable, cost-competitive and easier-to-permit CAM production with resilient supply chains. The technology eliminates wastewater and byproducts while enabling regionally sourced raw materials and reducing exposure to foreign supply chain volatility. Modular plants are designed with fewer steps to reduce capex, energy and environmental intensity and to accelerate deployment, manufacturing and licensing. Product development and process optimization are based at Nano Oneʼs Innovation Centre in Burnaby, British Columbia while piloting, demonstration and commercial production are based in Candiac,
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Québec, supported by a team with more than 15 years of commercial cathode manufacturing experience supplying global cell manufacturers. Strategic collaborations with global partners including Sumitomo Metal Mining, Rio Tinto and Worley support Nano Oneʼs Design-One-Build-Many growth strategy. Nano One has received funding support from the Governments of Canada, the United States, Québec and British Columbia. For more information, please visit www.nanoone.ca. Cautionary Notes and Forward-Looking Statements Certain information contained herein may constitute "forward-looking information" and "forward-looking statements" within the meaning of applicable securities legislation. All statements, other than statements of historical fact, are forward-looking statements. Forward-looking information in this news release includes, but is not limited to: plans, timing, and execution as well as the purpose for expanding the Candiac facilities and scalability of developed technology; receipt of the total amount of announced anticipated funding from the Government of Canada/NRCan and other government related grants and loans; use of proceeds; ongoing product and process improvement and innovations as potential additional revenue opportunities for the Company; the development of technology, supply chains, and plans for construction and operation of cathode production facilities for acceptance of the Company's product and licensing packages; industry acceleration and demand; successful current and future collaborations that are/may happen with OEMs, miners or others; the value, functions and intended benefits of the Company's technology and products efforts to build resilient and sustainable supply chains for critical minerals and battery materials; the development and evolution of Nano One's technology and products for scale up and commercialization; achieving commercial production of LFP; the Company's licensing, supply chain, joint venture strategies, opportunities and potential royalty arrangements; expected timing of commercialization milestones, including product qualification, initial sales, capacity expansion, and development project timelines; the anticipated future sales, and revenue streams from product sales, technology licensing, joint ventures, and royalty arrangements; progression of customer engagement activities, including sampling, qualification, and conversion into commercial agreements; and the execution of the Company's plans - which are contingent on capital support and grants. Generally, forward-looking information can be identified by the use of terminology such as ‘believe', ‘expect', ‘anticipate', ‘plan', ‘intend', ‘continue', ‘estimate', ‘may', ‘will', ‘should', ‘ongoing', ‘target', ‘goal', ‘encouraged', ‘projected', ‘potential' or variations of such words and phrases or statements that certain actions, events or results "will" occur. Forward-looking statements are based on the current opinions and estimates of management as of the date such statements are made are not, and cannot be, a guarantee of future results or events. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information, including but not limited to: receipt of the total amount of announced anticipated funding from the Government of Canada/NRCan and other government related grants and loans; use of proceeds; ongoing product and process improvement and innovations as potential additional revenue opportunities for the Company; de-risking supply chains for prospective licensees; general and global economic and regulatory changes; next steps and timely execution of the Company's business plans; the development of technology, supply chains, and plans for construction and operation of cathode production facilities; risks relating to cost overruns, delays, and execution challenges associated with engineering, procurement, construction, and scale-up activities; successful current or future collaborations that may happen with OEMs, miners or others; the execution of the Company's plans which are contingent on capital sources; the Company's ability to achieve its stated goals; the commercialization of the Company's technology and patents via license, joint venture and independent production; the Companyʼs efforts to build resilient and sustainable supply chains for critical minerals and battery materials; anticipated global demand and projected growth for LFP batteries; and other risk factors as identified in Nano One's Annual Information Form dated March 25, 2026, for the year ended December 31, 2025, its MD&A for the year then ended, and in recent securities filings for the
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Company which are available at www.sedarplus.ca. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward- looking statements and forward-looking information. The Company does not undertake any obligation to update any forward-looking statements or forward-looking information that is incorporated by reference herein, except as required by applicable securities laws. Investors should not place undue reliance on forward-looking statements. i Prime Minister of Canada (2026), G7 Critical Minerals Action Plan, https://www.pm.gc.ca/en/news/statements/2025/06/17/g7-critical-minerals-action-plan ii IEA (2026), Global Critical Minerals Outlook 2026, https://www.iea.org/reports/global-critical-minerals-outlook- 2026 iii U.S. National Defense Authorization Act for Fiscal Year 2024, Public Law 118-31, Section 154, as amended, https://www.govinfo.gov/content/pkg/COMPS-17632/pdf/COMPS-17632.pdf iv Government of Canada (2026), Canadaʼs Defence Industrial Strategy, https://www.canada.ca/en/department- national-defence/corporate/reports-publications/industrial-strategy/security-sovereignty-prosperity.html v Benchmark Mineral Intelligence. (2025). Mine to Grid: 2025 Year in Review. Contacts ir@nanoone.ca +1 (604) 520-9421 Industry: Technology Automotive Mining/Minerals Natural Resources Other Energy Utilities Alternative Energy Engineering Energy Green Technology Government Technology Nanotechnology Manufacturing Defense Environment Batteries EV/Electric Vehicles