NEO Battery Materials Signs Collaboration Agreement with High-Performance Carbon Nanotube Developer for Silicon Anode Optimization
February 13 2023 - 9:00AM
(
TSXV:
NBM) (
OTCQB: NBMFF)
- Signed
Collaboration Agreement with NanoRial Technologies Ltd., a
Developer of Well-Dispersed Carbon Nanotubes (CNT) for Lithium-Ion
Battery Performance Improvement
- Purpose to
Optimize Performance of NEO’s Silicon Anode Materials with CNT as
Effective Nanocoating Materials
- Intend to
Jointly Apply to Canadian Governmental, Non-Dilutive Funding
Programs
NEO Battery Materials Ltd.
(“NEO” or the
“Company”),
a low-cost silicon anode materials developer that enables
longer-running, rapid-charging lithium-ion batteries, is pleased to
announce that the Company has signed a non-exclusive collaboration
agreement with NanoRial Technologies Ltd.
(“NanoRial”). NanoRial is a technology developer
of fully-dispersed carbon nanotubes (CNT) that is capable of
improving the conductivity, capacity, and ultra-fast charge rate of
batteries.
NEO and NanoRial will collaborate to optimize
the stability and performance of NEO’s silicon anode materials,
NBMSiDE™, by integrating NanoRial’s high-performance CNT products
as a robust nanocoating material. Both Parties recognize that
implementing CNT technology can advance the commercial-level use of
silicon anodes in EV batteries and will accordingly expand on
mutual business opportunities in the lithium-ion battery supply
chain.
Once the Company redomiciles into Ontario, NEO
Battery Materials intends to jointly apply to governmental,
non-dilutive funding programs with NanoRial to increase business
presence and exposure in the Canadian battery supply chain. With
Canada placing 2nd in Bloomberg NEF’s global battery supply chain
rankings, the Company aims to build lasting relationships with
government officials to secure direct funding from the Ontario
provincial government, supercluster projects from NGen
Manufacturing Canada, and federal programs through the department
of Innovation, Science and Economic Development (ISED).
Mr. Spencer Huh, President and CEO of NEO,
stated, “We are excited to be working with NanoRial to build on one
of the many collaboration and joint development agreements we
expect to achieve this year. With our R&D efforts to integrate
CNTs into NBMSiDE™, we are actively expanding the product portfolio
to fulfill the current specifications requested by global battery
supply chain players and working parties. As we understand the
essence of the growing North American battery industry, we plan to
push efforts to become a global silicon anode supplier.”
Dr. Chitral Angammana, CEO of NanoRial,
commented, “Providing one of the best solutions of CNT products in
the industry, NanoRial is excited and confident to collaborate with
NEO to accelerate its commercialization efforts. NanoRial is
currently engaged with global, multinational firms in the battery
industry, testing our well-dispersed CNT products to improve the
electrical conductivity, energy density, and lifetime of
lithium-ion batteries. We hope to share this business network and
look forward to growing our products on a global scale.”
About NanoRial Technologies
Ltd.NanoRial is an Ontario-based Deep-Tech advanced
materials company enabling next-generation products and materials
from faster charging batteries to longer and lighter wind turbine
blades through our patented nano-particle exfoliation technology
and carbon nanotube (CNT) based additives. NanoRial intends to
become a leading CNT-based materials supplier to the energy storage
systems market. For more information, please visit NanoRial’s
website at: https://nanorial.com/
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/.
About NanoRial Technologies
Ltd.NanoRial is an Ontario-based Deep-Tech advanced
materials company enabling next generation products and materials
from faster charging batteries to longer and lighter wind turbine
blades through our patented nano-particle exfoliation technology
and carbon nanotube (CNT) based additives. NanoRial intends to
become a leading CNT-based materials supplier to energy storage
systems market. For more information, please visit NanoRial’s
website at: https://nanorial.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 Mar 2024 to Apr 2024
NEO Battery Materials (TSXV:NBM)
Historical Stock Chart
From Apr 2023 to Apr 2024