- NEO Battery Materials (NBM) has submitted construction permit application for silicon anode commercial plant
- NEO made the application to Pyeongtaek City, Gyeonggi Province regarding the construction of the plant in the Oseong Foreign Investment Zone
- The submission included the initial construction work and contractor bids when the permit is approved
- When the construction permit is approved, the initial construction process from site clearance to basic civil engineering work will be carried out sequentially
- NEO Battery Materials Ltd. is a Vancouver-based company focused on electric vehicle lithium-ion battery materials
- NEO Battery Materials Ltd. was unchanged at $0.145 at 11:34 AM ET
NEO Battery Materials (NBM) has submitted a construction permit application for a silicon anode commercial plant.
NEO made the application to Pyeongtaek City, Gyeonggi Province, regarding the construction of the plant in the Oseong Foreign Investment Zone.
Following the announcement of the late stage in architectural design, NBM Korea, NEO’s South Korean subsidiary, submitted the construction permit for NEO’s silicon anode commercial plant.
The submission included the initial construction work and contractor bids when the permit is approved.
With a processing period of one month, the construction permit is expected to be obtained at the end of December 2022.
When the construction permit is approved, the initial construction process, from site clearance to basic civil engineering work, will be carried out sequentially.
Concurrently, an invitation-for-bid (IFB) process will occur to select a contractor for the factory building.
Once the bidding is completed, NEO and the selected contractor will determine the commencement of construction in consideration of material procurement conditions and other relevant considerations.
“Amidst the turbulent global economic and financial environment, we are greatly thankful for the current construction and commercialization progress made by the company, management, and engineering team,” noted Spencer Huh, President and CEO of NEO.
NEO Battery Materials Ltd. is a Vancouver-based company focused on electric vehicle lithium-ion battery materials.
NEO Battery Materials Ltd. was unchanged at $0.145 at 11:34 AM ET.
