MONTREAL, Oct. 06, 2025 (GLOBE NEWSWIRE) -- NanoXplore Inc. ("NanoXplore" or the "Corporation") (TSX: GRA and OTCQX: NNXPF), a world-leading graphene company, announced today that it has received a contribution of up to $2.75 million from the Government of Canada under the Energy Innovation Program (EIP). This support will help advance the development of ultra high-power cylindrical format lithium-ion cells for defense and power tools, strengthening Canada's leadership in clean technology and battery innovation.
The announcement was made last Friday by the Honourable Tim Hodgson, Minister of Energy and Natural Resources, as part of a broader investment supporting eight projects across the country. These projects are designed to accelerate battery innovation and expand domestic production capacity, positioning Canada as a global player in the clean energy transition.
"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," said Soroush Nazarpour, President and CEO of NanoXplore. "We are proud to be part of Canada's growing battery ecosystem and to contribute to the clean energy future."
The EIP provides funding to accelerate the development of clean energy technologies that will drive down emissions, improve competitiveness, and create sustainable economic opportunities for Canadians.
About NanoXplore
NanoXplore is a graphene company, a manufacturer and supplier of high-volume graphene powder for use in transportation and industrial markets. Also, the Corporation provides standard and custom graphene-enhanced plastic and composite products to various customers in transportation, packaging, electronics, and other industrial sectors. The Corporation is also a silicon-graphene-enhanced Li-ion battery manufacturer for the Electric Vehicle and grid storage markets. NanoXplore is headquartered in Montreal, Quebec with manufacturing facilities in Canada, the United States and Europe.
Forward-Looking Statements
This press release contains forward-looking statements and forward-looking information (together, "forward-looking statements") within the meaning of applicable securities laws. All statements, other than statements of historical facts, are forward-looking statements, and subject to risks and uncertainties. All forward-looking statements are based on our beliefs as well as assumptions based on information available at the time the assumption was made and on management's experience and perception of historical trends, current conditions and expected future developments, as well as other factors deemed appropriate in the circumstances. No assurance can be given that these assumptions and expectations will prove to be correct. Forward-looking statements are not facts, but only predications and can generally be identified by the use of statements that include phrases such as "anticipate", "believe", "continue", "could", "estimate", "foresee", "grow", "expect", "plan", "intend", "forecast", "future", "guidance", "may", "predict", "project", "should", "strategy", "target", "will" or similar expressions suggesting future outcomes.
Forward-looking information is not a guarantee of future performance and involves a number of risks and uncertainties. Such forward-looking information necessarily involves known and unknown risks and uncertainties, including the relevant assumptions and risks factors set out in NanoXplore's most recent annual management discussion and analysis filed on SEDAR+ at www.sedarplus.ca, which may cause NanoXplore's actual results to differ materially from any projections of future results expressed or implied by such forward-looking information. These risks, uncertainties and other factors include, among others, the uncertain and unpredictable condition of global economy, notably as a consequence of the Covid-19 pandemic. Any forward-looking information is made as of the date hereof and, except as required by law, NanoXplore does not undertake any obligation to update or revise any forward-looking statement as a result of new information, subsequent events or otherwise.
Forward-looking statements reflect management's current beliefs, expectations and assumptions and are based on information currently available to management. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the future circumstances, outcomes or results anticipated or implied by such forward-looking statements will occur or that plans, intentions or expectations upon which the forward-looking statements are based will occur. By their nature, forward-looking statements involve known and unknown risks and uncertainties and other factors that could cause actual results to differ materially from those contemplated by such statements.
No securities regulatory authority has either approved or disapproved the contents of this press release.
For further information, please contact:
Pierre Yves Terrisse
Vice-President Corporate Development
py.terrisse@nanoxplore.ca
Tel: 1 438 476-1965
