- NEO Battery Materials Ltd. (NBM) is constructing and designing it silicon anode commercial plant, completes permit contract, and secures engineering design contract
- NEO has completed a contract with a South Korean-based architecture firm responsible for the plant’s construction
- The first phase of the commercial plant will producing 240 tonnes of NEO battery materials silicon anode material (NBMSiDE)
- NBMSiDE is NEO’s flagship silicon anode material for electric vehicle lithium-ion batteries
- NEO also secured the engineering design contract for the commercial plant
- It expects to achieve the initial commission of the plant by the first half of next year
- NEO Battery Materials Ltd. (NBM) is down 1.69 per cent trading at $0.29 per share as of 1:28 p.m. EST
NEO Battery Materials (NBM) has completed the contract for the construction of its NBMSiDE silicon anode commercial plant.
The company has also secured an engineering design contract for the plant.
NEO has completed a contract with a South Korean-based architecture firm responsible for the plant’s construction, architectural design, and construction-related permits.
The location of the Oseong Zone is advantageous for logistics and the battery supply chain as NEO’s commercial plant will be in proximity to large battery manufacturers.
The first phase of the commercial plant will have an initial annual capacity of producing 240 tonnes of NEO battery materials silicon anode material (NBMSiDE) and the facility will be built with additional space for production expansion of 1,800 tonnes for the next phase.
NBMSiDE is NEO’s flagship silicon anode material for electric vehicle lithium-ion batteries.
The necessary related permit and approval process is expected to take approximately two months to complete.
NEO also secured the engineering design contract for the commercial plant. Eight engineers will commit on a full-time basis to construct the company’s mass-production lines.
The company will advance to the detailed process design for the production lines and will proceed with early orders of components that have long lead times for the commercial plant. NEO expects to achieve the initial commission of the plant by the first half of next year.
NEO Battery Materials Ltd. (NBM) is down 1.69 per cent trading at $0.29 per share as of 1:28 p.m. EST.
