NanoXplore Receives up to $2.75M Contribution from the Government of Canada

Executive Summary

• NanoXplore Inc. received a contribution of up to C$2.75 million from the Canadian Government’s Energy Innovation Program (EIP).
• The funding is earmarked to accelerate development of ultra‑high‑power cylindrical lithium‑ion cells for defense, power‑tool and other demanding applications.
• The grant supports NanoXplore’s strategy to expand its clean‑technology battery portfolio and reinforces Canada’s position in the global clean‑energy transition.

Key Details

• Funding Source & Amount: Contribution of up to C$2.75 million from the Government of Canada under the Energy Innovation Program.
• Purpose: Accelerate R&D, prototyping and scaling of ultra‑high‑power cylindrical Li‑ion cells for defense systems, power tools, large portable equipment, and other high‑performance applications.
• Program Context: Part of a broader federal investment covering eight projects nationwide aimed at boosting battery innovation and domestic production capacity.
• Strategic Impact: Enhances NanoXplore’s ability to bring graphene‑enhanced battery technology to market faster, supporting its clean‑technology leadership and expanding its product offering beyond existing graphene powders and composites.
• Company Statement: President & CEO Soroush Nazarpour highlighted that the contribution “allows us to move faster in developing and scaling our product… where ultra‑high‑power output is critical.”

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 defense systems, where ultra‑high‑power output is critical,” – Soroush Nazarpour, President & CEO, NanoXplore.