- NEO Battery Materials Ltd. (NBM) has signed a memorandum of understanding (MOU) with Automobile & PCB Inc. (A&P)
- The MOU establishes strategic investment and cooperation between NEO and A&P to advance the Korean mass production facility of NEO’s silicon anode materials for EV
- NEO and A&P will pursue cooperation to construct NEO’s Silicon Anode Commercial Plant in South Korea by attracting strategic investments to NBM Korea Co. Ltd
- Automobile & PCB Inc is a public company listed on the Korean Exchange and currently listed on the main board, KOSPI
- NEO Battery Materials Ltd. is a Vancouver-based company focused on electric vehicle lithium-ion battery materials
- NEO Battery Materials Ltd. was up 28.302 per cent, trading at $0.34 at 10:43 AM ET
NEO Battery Materials (NBM) has signed a memorandum of understanding (MOU) with Automobile & PCB Inc. (A&P)
The MOU establishes strategic investment and cooperation between NEO and A&P to advance the Korean mass production facility of NEO’s silicon anode materials for electric vehicle (EV) lithium-ion batteries.
Through this strategic MOU, NEO and A&P will pursue cooperation to construct NEO’s Silicon Anode Commercial Plant in South Korea by attracting strategic investments to NBM Korea Co. Ltd., a wholly owned subsidiary of NEO.
A&P will actively support NEO in its commercialization efforts, and both parties have established a top priority of pursuing strategic investments into NBM Korea.
Both parties have also agreed to take advantage of the reputable and recognized network of A&P’s related companies, YSP and Yongsan, to strengthen NEO’s global business network.
Through its dominance in product quality and management, Yongsan is a reputable vendor to Hyundai, Kia Motors, Suzuki, Geely Auto, and BYD Auto.
“Through this MOU, NEO Battery Materials is closer to completing the initial strategic financing through NBM Korea,” said Spencer Huh, President and CEO of NEO.
“We are very excited to establish a practical business relationship with A&P in South Korea,” he added.
Automobile & PCB Inc is a public company listed on the Korean Exchange and currently listed on the main board, KOSPI.
NEO Battery Materials Ltd. is a Vancouver-based company focused on electric vehicle lithium-ion battery materials.
NEO Battery Materials Ltd. was up 28.302 per cent, trading at $0.34 at 10:43 AM ET.
