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Croatian EV Supercar Maker Raises $537 Million to Build High-Performance Sports EVs

FN Media Group Presents Market Commentary


New York, NY – June 9, 2022 – EV supercar maker Rimac Group has just raised a whopping $536.6 million to scale up to meet the demand for batteries and other systems to help the automotive industry go electric.  Rimac Group, which oversees the manufacture of multimillion-dollar supercars like the Bugatti Chiron and the upcoming $2.4 million Nevera hypercar, plans to use the capital to build out the engineering and manufacturing capabilities of its subsidiary, Rimac Technology. Rimac Technology will produce tens of thousands of components annually, with products ranging from hybrid and full-electric battery systems to full rolling chassis. The company has already attracted several big-name automaker clients like Ferrari, Jaguar, Mercedes-Benz, Porsche, Hyundai, and Renault. The company’s planned expansion comes at a time when electric vehicle sales are experiencing substantial growth, signaling good things to come for companies like Nano One Materials (TSX:NANO) (OTCPK:NNOMF), QuantumScape Corporation (NYSE:QS), Plug Power Inc. (NASDAQ:PLUG), Romeo Power, Inc. (NYSE:RMO) and Livent Corporation (NYSE:LTHM).


Nano One Materials (TSX:NANO) (OTC:NNOMF) is a technology company with a patented and scalable industrial process for the production of low-cost, high-performance cathode powders used in lithium-ion batteries. These unique materials are designed to add value to electric vehicles and grid storage batteries as part of the global push towards a zero-emission future.


On June 9, Nano One and Rio Tinto, a leading global mining and metals group, announced a strategic partnership providing materials, collaboration and a US$10 million investment into Nano One. As a result of this partnership and funding, Nano One will accelerate its multi-cathode (multi-CAM) commercialization strategy and support cathode active materials (CAM) manufacturing in Canada for a cleaner and more efficient battery supply chain for North American and overseas markets.


Nano One’s patented One-Pot process and metal-to-cathode active material (M2CAM) technologies enable the manufacture of nickel-rich (NMC), iron-rich (LFP) and manganese-rich (LNMO) lithium-ion cathode active materials with fewer steps, lower costs, less complexity and a much smaller environmental footprint. This technology applies to all lithium-ion battery chemistries used in electric vehicles, renewable energy storage, and portable electronics.


Nano One and BASF SE have also recently signed a Joint Development Agreement (JDA) under which the companies will jointly develop a process with reduced by-products for the commercial production of next-generation cathode active materials (CAMs), based on BASF’s HEDTM-family of advanced CAM and using Nano One‘s patented One-Pot process and metal direct to CAM (M2CAM®) technologies. BASF is a globally active chemical company with extensive experience in developing and manufacturing battery materials.


BASF has a family of CAM products well suited to the evolving battery requirements in automotive drivetrains and has a proven track record of developing these products in collaboration with others. Nano One and BASF will also use the M2CAM® process for greater flexibility in terms of manufacturing approach and performance of the resulting product, reduced energy consumption and environmental footprint.


The joint development plan has different phases and stages and is the result of Nano One’s process and product evaluation. The signing of the JDA represents an important milestone in the business relationship between BASF and Nano One.


For more information about Nano One Materials Corp. (TSX:NANO) (OTC:NNOMF), click here.


Battery Manufacturers Are Scaling Up Production to Meet Higher EV Demand


In a letter to shareholders, solid-state battery manufacturer QuantumScape Corporation (NYSE:QS) provided corporate updates from Q1 2022, including a manufacturing scale-up and a new 16-layer, solid-state cell that has endured over 500 charge cycles. This 16-layer result is in this proprietary cell format and represents an encouraging proof of concept for QuantumScape. The company has been working to increase the scale of its production. Indeed, it recorded average weekly starts of over 3,700 exiting Q1 2022, compared to less than 2,000 exiting Q4 2021. QuantumScape also recently expanded into the Asia-Pacific region with a new office in Japan that will include a state-of-the-art laboratory to conduct battery research and development (R&D).


Plug Power Inc. (NASDAQ:PLUG), a leading provider of turnkey hydrogen solutions for the global green hydrogen economy, announced that it has been awarded an order to deliver one gigawatt (GW) electrolyzer to green hydrogen solutions company H2 Energy Europe. Plug Power’s electrolyzer technology will enable the production of up to 100,000 metric tonnes per year of green hydrogen for use in the energy and transportation sector in northern Europe. It will supply the fuel needed for the equivalent of approximately 15,000 heavy-duty vehicles per day, making it the largest capacity electrolyzer installation in the world to date. Through its joint venture with Hyundai, H2 Energy will supply fleets of heavy-duty fuel cell trucks. Earlier this year, H2 Energy entered into a joint venture with Phillips 66 to build over 250 hydrogen fueling stations in Denmark, Germany and Austria powered by green hydrogen from H2 Energy.


On May 26, Romeo Power, Inc. (NYSE:RMO), an energy technology company delivering advanced electrification solutions for commercial vehicles, announced that it will be supplying batteries to a leader in powertrain performance products. According to Romeo Power CEO Susan Brennan, commercial expansion into aftermarket solutions fits into the company’s commercial strategy to support vehicle electrification at all stages of the lifecycle and serves as a solid indicator of the company’s efforts to expand the application of its leading technology into the growing spectrum of vehicle electrification opportunities. Brennan added that Romeo Power’s batteries offer the power and energy needed while staying light and compact to complement the company’s customers’ innovative product line.


On May 27, Livent Corporation (NYSE:LTHM) and the developer of the first all-electric vertical take-off and landing jet, Lilium, announced a research and development (R&D) collaboration agreement to advance lithium metal technology for use in high-performance battery cells. Collaborating with Livent is an important step toward securing Lilium’s future access to the high-performance battery cell technology that will power Lilium’s jets. Livent supplies lithium to many of the world’s leading electric vehicle brands and battery manufacturers. As a fully-integrated lithium producer, Livent Corporation uses its differentiated technology processes to source raw lithium and manufacture a range of specialty lithium products in an environmentally-responsible, safe, and sustainable manner.


Nano One Materials‘ One-Pot process, coated single crystal materials and Metal to Cathode Active Material (M2CAM®) technologies address fundamental performance needs and supply chain constraints while reducing costs and carbon footprint.


DISCLAIMER: (MSC) is the source of the Article and content set forth above.  References to any issuer other than the profiled issuer are intended solely to identify industry participants and do not constitute an endorsement of any issuer and do not constitute a comparison to the profiled issuer. FN Media Group (FNM) is a third-party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated with MSC or any company mentioned herein. The commentary, views and opinions expressed in this release by MSC are solely those of MSC and are not shared by and do not reflect in any manner the views or opinions of FNM. Readers of this Article and content agree that they cannot and will not seek to hold liable MSC and FNM for any investment decisions by their readers or subscribers. MSC and FNM and their respective affiliated companies are a news dissemination and financial marketing solutions provider and are NOT registered broker-dealers/analysts/investment advisers, hold no investment licenses and may NOT sell, offer to sell or offer to buy any security.


The Article and content related to the profiled company represent the personal and subjective views of the Author (MSC), and are subject to change at any time without notice. The information provided in the Article and the content has been obtained from sources which the Author believes to be reliable. However, the Author (MSC) has not independently verified or otherwise investigated all such information. None of the Author, MSC, FNM, or any of their respective affiliates, guarantee the accuracy or completeness of any such information. This Article and content are not, and should not be regarded as investment advice or as a recommendation regarding any particular security or course of action; readers are strongly urged to speak with their own investment advisor and review all of the profiled issuer’s filings made with the Securities and Exchange Commission before making any investment decisions and should understand the risks associated with an investment in the profiled issuer’s securities, including, but not limited to, the complete loss of your investment. FNM was not compensated by any public company mentioned herein to disseminate this press release but was compensated twenty five hundred dollars by MSC, a non-affiliated third party to distribute this release on behalf of Nano One Materials Corp.




This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and MSC and FNM undertake no obligation to update such statements.


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