The Canadian Government will be providing financial assistance to Vancouver-based Nano One for the development of cutting-edge electric vehicle battery technology.

With the C$1.9m ($1.4m) investment, the new technology will be designed and developed to reduce the cost of the energy storage materials in electric vehicle batteries, resulting in batteries that are longer lasting, easier to charge and able to produce more energy.

Nano One manufactures energy storage materials for batteries as well as a wide range of advanced nanostructured composite materials.

Canadian Parliamentary Secretary to the Minister of Environment and Climate Change Jonathan Wilkinson said: “The Government of Canada's Automotive Supplier Innovation Programme supports automotive suppliers in developing ground-breaking products and bringing them to market.

“We are proud to support these technologies, which will help create quality jobs and support Canada's middle class.

"By investing in Nano One, we are also promoting automotive sector innovation that will lead to a greener, more sustainable future.”

By providing financial assistance to the automotive sector, the Canadian Government intends to provide job security and support small and medium-sized enterprises, ensuring the right conditions for innovation.

It was announced by Jonathan Wilkinson, on behalf of Navdeep Bains, Minister of Innovation, Science and Economic Development.

Bains said: “These projects illustrate how Canada's automotive suppliers are at the forefront of designing and building the super-efficient cars of the future, cars that are more energy-efficient and better for the environment.

“The made-in-Canada innovations that come from these companies strengthen the skills, knowledge and business expertise that create well-paying jobs for Canadians.

"We are proud to support these technologies, which will help create quality jobs and support Canada's middle class."

"These innovations make our country's automotive sector a global success.”

The funding will be offered through the Automotive Supplier Innovation Programme (ASIP), and will support the development and production of electric vehicle battery material in Nano One's pilot plant.

The funding will simulate full-scale production of lithium-ion cathode materials and showcase Nano One's patented processing technology.

Image: Members of the Canadian Government. Photo: courtesy of Nano One.