Formidable Asset Management LLC, a hedge fund that profited from an early bet on electric-vehicle maker Workhorse Group Inc., has a new pick for the sector: Nano One Materials Corp.
The Cincinnati-based fund sees Nano One as “a company with the potential to be truly transformative” as it looks to occupy a niche in the battery value chain by producing more durable nanocrystals. Nano One has a scalable, capital-light business along with established partners and innovative technology, the fund wrote in a research report on Monday evening. Formidable Asset said it recently established a position in the stock, but it didn’t provide details on the size of its stake or when it was acquired.
