08:11 AM EDT, 03/28/2024 (MT Newswires) -- Nano One Materials Corp. ( NNOMF ) said Thursday that its net loss in 2023 widened to $31.8 million, or a loss of $0.30 per share, from the 2022 net loss of $15.8 million, or a loss of $0.16 per share.

The company's cash and cash equivalent position stood at $31.9 million at the end of 2023. It also had a working capital of $30.1 million at year-end.

Nano One's total assets for the year-end totaled $53.0 million while total liabilities reached $5.5 million with no long-term debt.

The company said it continued to advance its one-pot lithium iron phosphate production for batteries, noting the progress in its pilot plant.

Nano One said it also secured additional lithium battery manufacturing patents in Asia.

The company gained 1.7% but was trading near 52-week lows yesterday.