NEO Battery Materials Provides Corporate Update on In-House Cell Testing, Product Evaluation and Optimization, and CNT-Based Silicon Anode Development
September 06 2022 - 9:00AM
(
TSXV:
NBM) (
OTCQB: NBMFF)
- Attaining
In-House Coin Full Cell Producing Capability for NBMSiDE™
Optimization at R&D Scale-Up Centre
- Able to
Independently Produce Coin Full Cells to Realize Time and
Cost-Saving Efficiencies for Product Optimization
- On-Going
NBMSiDE™ Sample Evaluation and Optimization with Battery Cell
Manufacturers
- Increased Cell
Format and Capacity Testing with Global Non-Asian Battery
Manufacturer
- Developing New
Carbon Nanotube (CNT)-Based NBMSiDE™ Silicon Anode Product to
Improve Cycling Performance and Mechanical Durability
- Additional
Collaborative Agreement Signed with Yonsei University-Industry
Foundation for Fast-Track Commercialization
NEO Battery Materials Ltd.
(“NEO” or the
“Company”)
is pleased to provide the following updates on its recent corporate
activities and initiatives that include 1) in-house coin full cell
producing capability attainment in R&D Scale-Up Centre, 2)
on-going sample evaluation and optimization with battery cell
manufacturers, 3) new CNT-based silicon anode material product
development, and 4) collaborative agreement with Yonsei
University-Industry Foundation.
R&D Scale-Up Centre: In-House Coin
Full Cell Producing Capability for OptimizationNEO Battery
Materials will retain the capability to produce its own coin full
cells within the NBM Korea R&D Scale-Up Centre. For the past
two months, NBM Korea has been procuring equipment and materials to
establish in-house production capability, and by late September,
the Company will be able to independently produce coin full cells
without the need for external manufacturing facilities. Through
integrating cell production within the Scale-Up Centre, further
time-saving and cost-effective efficiencies can be realized for
product optimization as NBMSiDE™ samples, electrode plates, and
coin full cells can all be fabricated in one location.
NBMSiDE™
Sample Evaluation & Product Optimization with Battery
Cell ManufacturersNEO is continuously undertaking NBMSiDE™
sample evaluation and product optimization with global battery cell
manufacturers under NDAs. As different nanocoating materials,
performance requirements, and silicon loadings are required, the
silicon anode products are being finetuned with specifications
requested from each cell manufacturer, creating lead times between
delivery and performance testing. NEO is progressing through
sending optimized products for evaluation.
Most recently, an initial coin cell test was
completed with a non-Asia-based cell manufacturer that NEO has been
engaged with for over 9 months since the NDA. Both companies have
mutually agreed to advance to pouch cell testing, which is larger
in capacity and format, and NEO will accordingly provide optimized
silicon anode products to the manufacturer for further
evaluation.
Silicon-CNT Anode Development with
Applied Carbon Nanotechnology Ltd.As previously announced,
the Company is currently conducting trials to manufacture carbon
nanotube-composite NBMSiDE™ silicon anodes based on its pending
patent. On June 15, 2022, NEO signed a collaboration agreement with
Applied Carbon Nanotechnology to advance carbon nanotube (“CNT”)
technologies on silicon particles to improve anode performance and
durability. The two companies are working on a CNT-inserted
NBMSiDE™ pilot product and are planning to conduct cell tests to
evaluate electrochemical properties and performance.
NBM Korea Signs Collaborative Agreement
with Yonsei University-Industry FoundationNBM Korea has
entered into a collaborative agreement with the Yonsei
University-Industry Foundation. Based on the agreement, NBM Korea
will have greater access to the University’s facilities and
equipment to analyze and optimize the patented NBMSiDE™ silicon
anode materials. The Company and the University-Industry Foundation
will mutually seek active communication between researchers to
advance NEO’s silicon anode commercialization project.
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 CEO604-355-6463shuh@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", "estimate", "intend" and similar words
referring to future events and results. Forward-looking statements
are based on the current opinions and expectations of management.
All forward-looking information is inherently uncertain and subject
to a variety of assumptions, risks and uncertainties, including the
speculative 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.
Neither TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
NEO Battery Materials (TSXV:NBM)
Historical Stock Chart
From Aug 2024 to Sep 2024
NEO Battery Materials (TSXV:NBM)
Historical Stock Chart
From Sep 2023 to Sep 2024