- NEO Battery (NBM) has signed a memorandum of understanding (MOU) with a silicon waste recycler
- The agreement holds the potential to secure NEO Battery’s silicon input supply for the long term at a reduced price of up to 40 per cent
- The parties will also begin discussions about entering the North American EV supply chain
- NEO Battery is a Vancouver-based company focused on producing silicon anode materials for lithium-ion batteries destined for electric vehicles
- NEO Battery Materials (NBM) is up by 19.44 per cent, trading at $0.215 per share
NEO Battery (NBM) has signed an MOU with a silicon waste recycler.
The Asia-based recycler, whose name will remain confidential for strategic reasons, produces low-cost, high-purity silicon powder from by-product waste from solar and semiconductor manufacturing.
The agreement can secure NEO Battery’s silicon input supply for the long term at a reduced price of up to 40 per cent.
It also contains provisions for silicon anode testing with recycled material in January 2023, as well as potential collaborations to introduce NEO Battery’s NBMSiDE silicon anode materials to the North American market.
NEO Battery is a Vancouver-based company focused on producing silicon anode materials for lithium-ion batteries destined for electric vehicles. Its silicon products provide capacity and efficiency improvements over graphite-based lithium-ion batteries.
NEO Battery Materials (NBM) is up by 19.44 per cent, trading at $0.215 per share as of 10:17 am ET.
