Nano One Materials Corp. announced the completion of its Front-End Loading (FEL) 2 pre-feasibility study with Hatch Ltd, which estimates that Nano One could add 25,000 tonnes per annum of lithium iron phosphate (LFP) production capacity to its Candiac property, potentially making it significantly more efficient in size, footprint, and capital cost than other commercial methods of making LFP. The FEL 2 study is at the prefeasibility stage and defines (a) the potential production line size, (b) the optimal plant size for Nano One's site in Candiac, Québec, and provides (c) operating cost estimates and (d) Association for the Advancement of Cost Engineering (AACE) class 4 estimates of the capital cost.

Cost estimates are based on equipment quotes from various major vendors, installation factors, indirect costs, and best practices in engineering, procurement, and construction management (EPCM). Specifics on cost are commercially sensitive and held in confidence to allow the company to engage effectively in product pricing discussions with customers. LFP sample evaluation with customers is underway, with the goal of securing offtake commitments and building out production capacity to suit.

Nano One is actively engaged with governments, not only in Québec, but also in other jurisdictions where access to financial incentives and technology attraction programs could further increase shareholder value and stakeholder interests. Based on the FEL 2 pre-feasibility study and subsequent Economic Impact Assessment conducted by the Institute de la Statistique du Québec, it was determined that the project has the potential to create 149 direct, full-time highly skilled jobs and 1065 indirect jobs. In addition, the project has the potential to generate tax revenues for the Governments of Québec and Canada of approximately $35 million during construction and over $17 million annually when at full capacity.

It could generate roughly $450 million in economic activity in Québec in the first five years.