- NEO Battery Materials (NBM) continues to advance the capacity of its production facility in South Korea
- The company recently secured material transfer agreements (MTA) with working parties to evaluate NEO’s silicon anode active materials
- To protect its proprietary technology, NEO has implemented stringent clauses in the material transfer agreements
- The company is working toward achieving the semi-commercial level output rate of 120 tonnes per year
- NEO Battery Materials is a Vancouver-based company focused on lithium-ion battery materials
- NEO Battery Materials Ltd. (NBM) is currently down 2.94 per cent, trading at $0.495 per share
NEO Battery Materials (NBM) continues to advance the capacity of its production facility in South Korea.
The company recently secured material transfer agreements (MTA) with working parties to evaluate NEO’s silicon anode active materials.
The silicon materials are used in the manufacture of high-power lithium-ion batteries and efficient electrode manufacturing processes.
Spencer Huh, President and CEO of NEO, commented,
“The material transfer agreements that NEO has secured signifies a runway into large-scale testing of our silicon anode materials that are applicable to various battery materials and cell systems.”
“The MTAs,” added Mr. Huh, “form a baseline agreement for both NEO and its counterparties to develop opportunities for joint development agreements and strategic partnerships.”
To protect its proprietary technology, NEO has implemented stringent clauses in the material transfer agreements, which allow the transfer of materials between parties.
In South Korea, NEO’s management and engineers are in the stage of scaling the production capacity of the company’s proprietary silicon anode active materials through capital purchases and process optimization.
The company is working toward achieving the semi-commercial level output rate of 120 tonnes per year and plans to ship its customized prototypes in mass to its working partners.
Through rigorous product testing and modifications, NEO has refined the manufacturing process of its silicon materials to generate these positive internal developments.
In the past two weeks, the company has signed three non-disclosure agreements with an additional European battery cell manufacturer, a material developer, and a research institution.
These agreements will allow NEO to further evaluate and optimize its silicon anode materials that will eventually be implemented in electric vehicles and energy storage solutions.
NEO Battery Materials is a Vancouver-based company focused on lithium-ion battery materials.
NEO Battery Materials Ltd. (NBM) is currently down 2.94 per cent, trading at $0.495 per share as of 11:08 am ET.
