Nanoxplore receives $2.75M funding from Cdn government

Executive Summary

• Nanoxplore Inc. received a government contribution of up to C$2.75 million under Canada’s Energy Innovation Program to accelerate development of ultrahigh‑power cylindrical lithium‑ion cells for defence and power‑tool applications.
• The funding is part of a broader federal investment supporting eight battery‑technology projects across Canada, aimed at strengthening domestic production capacity and clean‑energy leadership.
• CEO Soroush Nazarpour highlighted that the grant will enable faster scaling of the company’s high‑power battery product line, reinforcing Nanoxplore’s role in Canada’s emerging battery ecosystem.

Key Details

• Contribution Amount: Up to C$2.75 million (approximately US$2.0 million).
• Funding Source: Government of Canada – Energy Innovation Program (EIP).
• Purpose: Accelerate development and scaling of ultrahigh‑power cylindrical‑format lithium‑ion cells for demanding applications such as power tools, large portables, and defence systems.
• Strategic Impact: Enhances Nanoxplore’s ability to improve battery performance in high‑output markets and supports Canada’s goal of becoming a global leader in clean‑technology and battery innovation.
• Program Context: The EIP grant is one of eight projects receiving federal support aimed at driving down emissions, boosting competitiveness, and creating sustainable economic opportunities for Canadians.
• Company Positioning: Nanoxplore positions itself as a graphene‑based materials and lithium‑ion battery manufacturer serving transportation, industrial, EV, and grid‑storage markets.

Notable Quotes

“This contribution allows us to move faster in developing and scaling our product, which is designed to improve battery performance in demanding applications such as power tools, large portables and defence systems where ultrahigh‑power output is critical,” – Soroush Nazarpour, President & CEO, Nanoxplore.

Materiality Assessment: Material – Positive (significant non‑dilutive funding that materially advances product development and supports strategic growth objectives).