NanoXplore

NanoXplore has announced the successful commissioning of two anode material pilot lines, reportedly achieving remarkable energy density and product validation. The Company called this 'a pivotal moment in NanoXplore’s ongoing commitment to advancing sustainable energy storage solutions'.

NanoXplore’s proprietary silicon graphene technology (SiG™) produced in the pilot line, has achieved an energy density of 1150 Wh/L, and demonstrated compatibility with conventional graphite anodes, resulting in an energy density of over 800 Wh/L. NanoXplore remains dedicated to pushing the boundaries of energy storage capabilities using its advanced materials technology. The SiG™ family is supported by 11 patents which cover a range of different chemistries and extend to all cylindrical cell form factors.

NanoXplore has announced a novel dry graphene manufacturing process. The dry process centers on an advanced exfoliation technology with innovative media that enables high yield exfoliation without the introduction of impurities.

The new graphene production approach benefitted from NanoXplore’s intellectual property portfolio and the strategic patents acquisition of XG Sciences. The amalgamation of eight different patents registered and/or granted in Australia, Canada, United States, Taiwan, China, and South Korea together with NanoXplore’s knowledge and experience deliver what the Company defined as "graphene with a mix of performance and cost-effectiveness". 

NanoXplore reported its financial results for Q3 2023. Total revenues were $28.9 million CAD, up 6% from last year. The net loss was $448,000 (compared to a loss of $1.97 million last year). The company's cash and equivalents at the end of the quarter was $39.5 million CAD. NanoXplore expects its revenues for the year ending June 30, 2024 to reach $130 million.

In September 2023 NanoXplore announced new business representing over $17 Million in annual sales. The company says its graphene initiatives are steadily growing and it is "well positioned to deliver the returns our shareholders are expecting from us".  NanoXplore's graphene enhanced composite light weighting solutions are gaining momentum, and more OEMs are interested in its products. 

NanoXplore has announced that it has been awarded three programs from two existing customers, one large commercial vehicle OEM and one industrial equipment manufacturer, to supply exterior parts of vehicles.  These components are used in both internal combustion engines and electric vehicles.

Production for the first program will begin in 2024 while the start of production for the other two programs is planned for 2026. These programs generally last for a period of 10 years. The Corporation estimates that these programs will generate CAD$24 million (over USD$17,700,000) in annual sales at mature volumes along with a one-time tooling revenue of CAD$10 million (over USD$7,400,000). The Corporation has reportedly already secured the related manufacturing equipment to fulfill these orders and the expansion of the North Carolina facility is ongoing. These investments are part of NanoXplore’s 5-year strategic plan.

NanoXplore reported record results for Q2 2023, with revenues of $33.3 million CAD (up from $28.3 million last year, or a 18% increase). The company's gross margins are increasing, and the company was cash flow positive ($1.7 million).

NanoXplore says that it has been expanding the volume of its graphene-enhanced products while also improving manufacturing efficiencies. The company says that these good results were achieved despite a challenging macro environment

NanoXplore and its wholly owned subsidiary, VoltaXplore, a silicon-graphene-enhanced Li-ion battery manufacturer for the Electric Vehicle and grid storage markets, have announced that VoltaXplore has agreed on commercial terms for the supply of Li-ion battery cells with a well-known commercial vehicle OEM. 

The batteries include graphene in the anode (graphene-silicon additives) and battery cells will reportedly be produced in VoltaXplore’s gigafactory starting from 2026. The agreement is for 1 GWh per year for a duration of 10 years following a pricing formula that passes through raw material cost to the customer.

NanoXplore and Martinrea International, a global automotive supplier engaged in the design, development and manufacturing of highly engineered, value-added Lightweight Structures and Propulsion Systems, through its subsidiary, Martinrea Innovation Developments, have announced NanoXplore's purchase of Martinrea Innovation's 50% equity stake in VoltaXplore.

NanoXplore now owns 100% of the equity and intellectual property in VoltaXplore and Martinrea has increased its existing equity position in NanoXplore from 21.1% to 22.7%. VoltaXplore was formed as a joint venture between NanoXplore and Martinrea in 2021 to collaborate on developing graphene-enhanced Li-ion battery cells for electric vehicles and grid storage and to explore the potential to build a battery gigafactory. NanoXplore will seek to finance the battery gigafactory within VoltaXplore.

Project Arrow, a collaboration between nearly 60 different companies in Canada that is led by the Automotive Parts Manufacturers’ Association (APMA), aims to develop an all-Canadian electric SUV. A few days ago, at the CES (Consumer Electronics Show) event in Las Vegas, a fully operational prototype was unveiled.

Reports suggest that the Canadian government contributed CAD$5 million (over USD$3.7 million) toward the electric compact SUV’s development. Ontario pledged CAD$1.8 million (over USD$1.3 million) and Quebec said it would allocate CAD$1.4 million (over USD$1 million) over 18 months to small- and medium-sized businesses that make connected or autonomous zero-emission automotive components and systems, including those looking to get involved with Project Arrow.

NanoXplore reported its financial results for Q3 2022, with revenues of $27.1 million CAD (up 52% compared to last year). The company reported a loss (EBIDTA) of $1.97 million CAD (down from a loss of $3.7 million CAD last year).

Looking ahead into its FY2023 (which ends on September 2023) NanoXplore expects revenues to reach $110 million. The company also announced a 5-year strategic plan, during which the company will expand its production capacity from its current 4,000 tons to 20,000 tons for graphene and battery materials.