NEO Battery Materials files patent and announces completion of RFQ process for plant construction

VANCOUVER — NEO Battery Materials Ltd., a silicon anode materials developer that enables longer-running, rapid-charging lithium-ion batteries, announces that the Company has filed its 6th patent to the Korean Intellectual Property Office. This latest patent application demonstrates NEO’s on-going commitment to strengthening its IP portfolio and protecting its one-step nanocoating technology for silicon anodes.

Sixth Patent Filed to KIPO
The patent entitled Silicon composite manufacturing method further extends on the cost-reduction capabilities for the research and development of NBMSiDE™, NEO Battery’s Silicon Anode Materials. The Company additionally intends to apply to the U.S. Patent and Trademark Office and the World Intellectual Property Organization for extensive patent protection in various jurisdictions. In the first half of 2023, NEO Battery Materials will shortly file multiple patents to develop a robust IP portfolio for its materials and manufacturing processes.

Dr. S. G. Kim, CTO of NEO, commented, “With the battery industry and multiple evaluation parties impressed with NEO’s differentiated product solution, our R&D team in South Korea is committed to engineering excellence to remain at the forefront for low-cost, high-performance silicon anodes. Dr. Basudev Swain, Chief Science Officer, and I will combine efforts to efficiently optimize materials and enable commercialization by the first half of next year.”

Completion of RFQ Process for Commercial Plant Construction Initiation
The Company has completed the request for quotation (RFQ) process and received three tentative quotes for constructing the South Korean Commercial Plant. As the next phase, NEO Battery Materials will negotiate with the candidate contractors. Once a contractor is finalized, the Oseong Zone site clearance, basic civil engineering, procurement planning, and construction management plan are expected to be initiated.