- NEO Battery Materials Ltd. (NBM) has decided to construct its pilot plant facility in South Korea
- Currently, three locations are being considered as top options within the region
- NEO made the decision to locate its pilot plant in South Korea because of the country’s status as a leader in battery technology
- NEO Battery Materials Ltd. is a Vancouver-based resource company focused on battery metals and materials
- NEO Battery Materials Ltd. (NBM) is steady, trading at $0.81 per share
NEO Battery Materials (NBM) will construct its pilot plant facility in South Korea as the company continues to finalize plans for the facility.
“Several variables were considered when deciding the location between South Korea and Canada,” said NEO’s president and CEO Spencer Huh.
Upon discussion between management, scientific advisors, and the company’s engineering personnel, NEO made the decision to locate its pilot plant in South Korea because of the country’s status as a leader in battery technology.
South Korea is home to globally leading companies such as LG Energy Solution, Samsung SDI, and SK Innovation Co., which operate within the country and are in the global top six battery cell manufacturers.
“Situating NEO in a location filled with a strong network of battery players and experts is the best route to expedite our silicon (Si) anode commercialization process.,” said Mr. Huh.
Currently, three locations are being considered as top options within the region, and NEO is prioritizing optimal integration into the battery supply chain and proximity with large battery manufacturers for the pilot plant.
Dr. J. H. Park, Director and Chief Scientific Advisor of NEO, commented on the new plant.
“The objective of the pilot plant is to showcase output scalability while producing customized NEO Si anode materials to different potential customers in the battery supply chain,” said Dr. Park.
“We are also aiming,” he added, “to construct a pilot plant that can be readily converted into a commercial-scale facility without significant costs or material changes.”
NEO Battery Materials Ltd. is a Vancouver-based resource company focused on battery metals and materials.
NEO Battery Materials Ltd. (NBM) is steady, trading at $0.81 per share as of 10:49 am ET.
