Yes. SdTC allows a maximum public funding of 75% (of each level) for a project. The SDTC finances on average 33% (up to 40%) of the eligible costs of the project and requires at least 25% private funding that may include benefits in kind from unionized partners. The rest of the project costs may be financed by other public bodies. „This is a new round of support by SDTC and it is expanding and benefiting from the success of Nano One in our demonstration pilot project,“ explained Blondal. „The first contribution is close to one million dollars, it strengthens our financial position and it is the first of five payments of this type of SDTC over the next three years. The goal is to expand our laboratory, pilot plant and staff to help develop cathode materials for next-generation lithium-ion batteries used in electric vehicles and renewable energy storage. This is a one-time, non-dilutive contribution in response to the COVID-19 situation and represents a 5% complement to SDTC`s current $5 million commitment to Nano One`s Scaling of Advanced Battery Materials project, bringing the total contribution agreement to $5.25 million. The data review focused on issues of relevance and performance, as well as efficiency and cost-effectiveness. In particular, the contributions of the SD Tech Fund to the development of sustainable technologies, the number of projects that progress towards successful demonstration and the efficient and economical provision of the SD Tech Fund were studied.
Launched in July 2016, the demonstration pilot facility project was completed in March this year. Nano One successfully fulfilled all obligations and reporting obligations related to this project, and sdTC released the 10% share of its contribution for a total amount of $208,130. This $3 million provincial contribution is provided through a funding partnership with sdTC and complements Nano One`s existing project funding agreement with SDTC, concluded in September 2019, bringing the total contribution to $8,283,000. The initial scale of the project and the results of the stages remain unchanged.. . .