NEO Battery Materials provides South Korean commercial plant updates
by CM Staff
NEO Battery Materials has advanced discussion with 3 contractors for a request for quotation (RFQ) process.
VANCOUVER — NEO Battery Materials Ltd., a silicon anode materials developer trying to enable longer-running, rapid-charging lithium-ion batteries, provided updates on the construction process for the South Korean Commercial Plant, material evaluation of further-enhanced silicon anodes, and strategic investments with U.S. venture capital funds.
Following the construction permit approval of the South Korean Commercial Plant, NEO Battery Materials has advanced discussion with 3 contractors for a request for quotation (RFQ) process. In the next two weeks, the Company will accordingly receive construction quotes. Based on essential procurement factors, such as technical expertise, project execution, and cost-effectiveness, NEO will select the most qualified contractor to advance commercialization to the next step.
With 3 U.S.-based battery cell manufacturers including a solid-state battery developer, the Company is scheduled to send further-optimized NBMSiDE™, NEO’s proprietary silicon anode materials, samples for material evaluation and validation in lithium-ion battery cells. Additionally, the company says that developments have allowed them to discuss domestic and international expansion plans with working partners. Both parties aim to carry forward collaborative ventures and projects for active NBMSiDE™ integration in EV batteries.
The Company is also in the final stages of securing prominent U.S. venture capital funds with a primary focus on the cleantech and battery sector. These long-term, reliable strategic investments will provide NEO with the resources needed to continue material optimization, commercialization efforts, and U.S. expansion.
