Ferroglobe Innovation is one of the world’s leading suppliers of silicon metal, silicon-based and manganese-based specialty alloys and ferroalloys.

NEO Battery Materials will work with Ferroglobe to combine NEO’s silicon nanocoating technology with Ferroglobe’s silicon materials to improve the performance and cost-effectiveness of silicon powder and anode materials for lithium-ion batteries.

Spencer Huh, President and CEO of NEO Battery Materials, commented on the partnership.

“We are highly excited to be in discussion with Ferroglobe,” he said. “The expertise and experience that FGI brings is invaluable to NEO’s accelerated plan of commercialization.”

Ferroglobe accounts for 14 per cent of the global production capacity of silicon metal and is recognized as the leading producer of ferroalloys in the European Union. The company has developed proprietary, state-of-the-art technology to produce high-purity silicon powders.

“NEO emphasizes that cost and performance of silicon anode materials are highly complementary as one cannot go without the other,” continued Mr. Huh. “Thus, we will engage closely with Ferroglobe to push the development of low-cost, mass-producible end market anode materials.”

NEO Battery Materials Ltd. is a Vancouver-based resource company focused on battery metals and materials.

NEO Battery Materials Ltd. (NBM) is up 3.85 per cent on the day, trading at $0.81 per share as of 11:29 am ET.