NEO Battery Materials Signs a Collaboration Agreement with Applied Carbon Nano Technology Ltd. in South Korea
June 15 2022 - 9:50AM
(
TSXV:
NBM) (
OTCQB: NBMFF)
- Collaboration Agreement to Advance NEO’s Patent Pending Carbon
Nanotube (CNT) Coating Technology for Silicon Anode Materials with
Applied Carbon Nano Technology Ltd.
- High Mechanical Endurance of CNT Can Help with Silicon’s Volume
Expansion Problem
- CNT Market Expected to Reach $10.7B by 2028, Growing at 10.8%
CAGR
- Applied Carbon Nano Technology Inc. Focuses on Developing and
Commercializing CNT Products with Expertise in EV Lithium-Ion
Batteries, Battery Recycling, and Graphene Technologies
NEO Battery Materials Ltd.
(“NEO” or the
“Company”)
is pleased to announce that the Company has signed a Collaboration
Agreement (“CA”) with Applied Carbon Nano
Technology Ltd. (“ACN”) on June 14th. The
collaboration agreement establishes strategic cooperation to
further advance NEO’s pending patent related to carbon nanotube
(“CNT”) coating technology for silicon anode
materials.
NEO and ACN will collaborate to expand mutual
business opportunities in the electric vehicle (EV) industry
including the CNT conductive additive market that is experiencing
accelerated growth. In conjunction with the past news release on
July 22, 2021, NEO is in the right position to cooperatively expand
and advance the development of NEO’s silicon anode material project
with ACN.
CNTs are known to retain similar electrical
conductivity to copper and have more than 100 times the strength of
steel. Due to this capability to endure mechanical stress, CNT can
act as an effective damper for the volumetric expansion problem of
silicon anodes during cycling. Additionally, the superior
electrical conductivity of the material allows the performance of
the anode to be maximized. According to the Insight Partners, the
CNT market size is expected to reach $10.7B by 2028, growing at a
compound annual growth rate of 10.8%.
Applied Carbon Nano Technology
Inc. is a private R&D-oriented company in South Korea
focused on developing and commercializing Carbon Nanotubes
(CNT) and their applied technologies. ACN has over
16 years of corporate history with core R&D experts on CNT and
CNT-applied composite product technologies. The core management of
the company includes 2 founding members, CEO Dr. Lee and CTO Dr.
Moon, whose combined industry experience amount to over 60 years in
the CNT industry. The two retain a total of 90 patents including
technologies in the battery recycling and graphene area. ACN is
currently focusing on developing CNT conductive additives for EV
lithium-ion batteries and its CNT composite product portfolio. ACN
has over 26 Korean patents and 1 US patent and is working on
expanding its IP portfolio and oversea business opportunities.
Through the Collaboration Agreement, NEO and ACN
will pursue cooperation to advance NEO’s patent-pending CNT coating
technology using ACN’s CNT and will further co-work on utilizing
ACN’s core CNT technology and applying it to NEO’s silicon anode
active materials, growing the NBMSiDE™ product portfolio through
the wholly owned subsidiary, NBM Korea Co. NEO also plans to
support ACN to expand its overseas business opportunities for
mutual growth going forward.
Addition of 2 AdvisorsNEO also
appoints Dr. Suk Min Moon, Ph.D, and Dr. Dae Yeol Lee, Ph.D, as
scientific advisors.
Dr. Dae Yeol Lee, Ph.D.Dr. Lee
is currently the CEO of Applied Carbon Nano Technology Inc. and
owns 50 patents with over 30 years of industry experience. He
started his career at RIST established by POSCO (the 5th globally
largest steel manufacturer). He is a co-founder of ACN in 2005 and
since then, he has committed to pioneering and advancing CNT
technology for over the past 17 years.
Dr. Suk Min Moon, Ph.DDr. Moon
is currently the CTO of Applied Carbon Nano Technology Inc. and
owns 40 patents with over 30 years of R&D and commercialization
experience. He has a depth of knowledge and experience in the nano
materials area including the plasma and graphene industry. Dr.
Moon’s core expertise also covers the battery recycling area.
Mr. Spencer Huh, President and CEO of NEO,
commented, “We are very glad to establish a practical R&D
relationship with ACN in South Korea. We strongly expect that ACN’s
deep understanding and experience in CNT development and its
applied technologies could be an additional value for NEO. We also
believe that there will be a fruitful synergy for mutual benefits
in the near term.”
Mr. Huh also added, “By attracting 2 new
advisors, Dr. Lee and Dr. Moon, we are more confident of advancing
our high-performance silicon anode technology and additional
business opportunities going forward.”
About NEO Battery Materials
Ltd.NEO Battery Materials Ltd.
is a Vancouver-based company focused on electric vehicle
lithium-ion battery materials. NEO has a focus on producing silicon
anode materials through its proprietary single-step nanocoating
process, which provides improvements in capacity and
efficiency over lithium-ion batteries using graphite in their anode
materials. The Company intends to become a silicon anode active
materials supplier to the electric vehicle industry. For more
information, please visit the Company’s website at:
https://www.neobatterymaterials.com/.
On behalf of the Board of DirectorsSpencer
HuhPresident and CEO604-697-2408shuh@neobatterymaterials.com
This news release includes certain forward-looking statements as
well as management's objectives, strategies, beliefs and
intentions. Forward looking statements are frequently identified by
such words as "may", "will", "plan", "expect", "anticipate",
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and results. Forward-looking statements are based on the current
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nature of mineral exploration and development, fluctuating
commodity prices, the effectiveness and feasibility of technologies
which have not yet been tested or proven on a commercial scale,
competitive risks and the availability of financing, as described
in more detail in our recent securities filings available
at www.sedar.com. Actual events or results may differ materially
from those projected in the forward-looking statements and we
caution against placing undue reliance thereon. We assume no
obligation to revise or update these forward-looking statements
except as required by applicable law.
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Services Provider (as that term is defined in the policies of the
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accuracy of this release.
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