- Product highlights included advancements of the company’s patented silicon anode active materials for electric vehicle lithium-ion batteries
- NEO increased its pilot plant facility to produce up to 120 tons of NBMSiDE per annum
- NEO established a wholly-owned South Korean subsidiary, NEO Battery Materials Korea Co., Ltd.
- NEO Battery Materials Ltd. is a Vancouver-based company focused on battery metals and materials
- NEO Battery Materials Ltd. (NBM) is down 3.66 per cent, trading at C$0.395 per share at 10:15 am EST
NEO Battery Materials (NBM) has released a review of product and business highlights from 2021.
Highlights include advancements of the company’s patented silicon anode active materials for electric vehicle lithium-ion batteries.
Product & IP (Intellectual Property) developments
- Established a 2-Track Silicon (Si) Anode Material Development Process providing significant cost savings compared to silicon nanoparticles
- Successfully launched 3 silicon microparticle anode material products named NBMSiDE with pending trademark approval through the Korean Intellectual Property Office
- Each NBMSiDE product retains unique nanocoating materials and characteristics that enable the silicon microparticles to perform as an anode material
- Expanded NEO’s portfolio to 5 issued or pending patents at the end of December 2021
Plant developments
- Upscaled pilot plant facility to produce 120 tons of NBMSiDE per annum
- The capacity expansion was enabled through the optimization of NEO’s low-cost, single-step manufacturing process that precludes the need for expensive engineering environments
- The conceptual design of NEO’s semi-commercial plant was completed, progressing to the review stage for the Engineering, Procurement, and Construction (EPC) Contract
- The site approval process is underway by the local South Korean provincial government
Business developments
- Increased the non-disclosure agreement count to approximately 20 NDAs which include globally established industry players in the battery cell manufacturing, materials manufacturing, and automotive industries
- Established the wholly-owned South Korean subsidiary, NEO Battery Materials Korea Co., Ltd.
- Signed a Letter of Intent with the University of Toronto and an Undisclosed Global OEM for a research consortium on the R&D and scale-up of electric vehicle (EV) battery material technologies
- Formed a licensing agreement and collaborative development agreement with the Yonsei University of South Korea for the development and advancement of NBMSiDE manufacturing and nanocoating material technologies for high-performance EV lithium-ion batteries
- Added 7 Scientific Advisors, 2 Senior Research Engineers, and 2 Semi-Commercial Plant Project Managers
Mr. Spencer Huh, President and CEO of NEO, commented on the company’s growth in 2021.
“2021 was a highly special and historical year to NEO. We hold great confidence and belief that we will be among the advanced and crucial components of the supply chain for the promising lithium-ion battery industry in the coming years. We expect that 2022 will be another decisive year to achieve important and noticeable milestones related to the commercialization and performance improvement of NBMSiDE. On behalf of management and the board of directors, we would like to thank all our team and our valued shareholders for a great 2021. We will move forward at full capacity to maximize our shareholders’ value in 2022, and we wish you the best happy new year.”
NEO Battery Materials Ltd. is a Vancouver-based company focused on battery metals and materials.
NEO Battery Materials Ltd. (NBM) is down 3.66 per cent, trading at C$0.395 per share at 10:15 am EST.