NEO Battery Materials Ltd. receives $2.5M purchase order of battery solutions

TORONTO — NEO Battery Materials Ltd., a battery developer for drones, robotics, and electronics, announces that it has executed a Purchase Order Agreement, alongside a Joint Development Agreement (the JDA), with a South Korean industrial robotics company engaged in autonomous mobile robots (AMRs), humanoid platforms, and mission-critical service robots deployed in high-risk industrial environments. The Customer reportedly currently services global conglomerates and SMEs with its robotics solutions in logistics warehouses, manufacturing facilities, and various end markets.

With an order value of approximately ₩2,500,000,000 KRW ($2,500,000 CAD) over a targeted 24-month period, the Customer will reportedly purchase and procure proprietary lithium-silicon battery cells and packs co-developed with NEO under the JDA. In a press release, NEO Battery Materials Ltd. stated that the products supplied will include both prototype packs for field validation and commercial-level packs for integration across the Customer’s payload, service, and AMR-based humanoid robot systems. The scope of services will also reportedly further cover end-to-end battery solutions, including material selection, cell architecture, certification support, and integration assistance.

In the press release, NEO Battery Materials Ltd. also stated that its lithium-silicon battery cells aim to deliver “enhanced energy density, power density, and system safety under full-duty industrial use.” Subject to modifications over the development period, both prototype and commercial packs are reportedly targeted to “achieve a 74,000 mAh cell capacity with 12S configuration, representing 3.38 kWh or a 45.1% increase in energy density.”

“This Purchase Order and JDA for robotics and autonomous systems reinforce NEO’s position as a capable battery solutions provider in diverse end markets,” stated Spencer Huh, Director, President & CEO of NEO. “By developing and manufacturing tailored batteries for AMR and humanoid robotics, NEO is actively creating opportunities to enter into growing sectors that cannot compromise on battery performance and a resilient supply chain. We aim to enable the Battery Innovation Platform promptly to start producing in our new facilities in South Korea.”