NEO Battery Materials signs agreement with carbon nanotube developer for silicon anode optimization

VANCOUVER — NEO Battery Materials Ltd., a silicon anode materials developer that enables longer-running, rapid-charging lithium-ion batteries, announces that the Company has signed a non-exclusive collaboration agreement with NanoRial Technologies Ltd. NanoRial is a technology developer of fully-dispersed carbon nanotubes (CNT) that is capable of improving the conductivity, capacity, and ultra-fast charge rate of batteries.

NEO and NanoRial will collaborate to optimize the stability and performance of NEO’s silicon anode materials, NBMSiDE™, by integrating NanoRial’s CNT products as a nanocoating material. Both Parties recognize that implementing CNT technology can advance the commercial-level use of silicon anodes in EV batteries and will accordingly expand on mutual business opportunities in the lithium-ion battery supply chain.

Once the Company redomiciles into Ontario, NEO Battery Materials intends to jointly apply to governmental, non-dilutive funding programs with NanoRial to increase business presence and exposure in the Canadian battery supply chain. With Canada placing 2nd in Bloomberg NEF’s global battery supply chain rankings, the Company aims to build lasting relationships with government officials to secure direct funding from the Ontario provincial government, supercluster projects from NGen Manufacturing Canada, and federal programs through the department of Innovation, Science and Economic Development (ISED).

Mr. Spencer Huh, President and CEO of NEO, stated, “We are excited to be working with NanoRial to build on one of the many collaboration and joint development agreements we expect to achieve this year. With our R&D efforts to integrate CNTs into NBMSiDE™, we are actively expanding the product portfolio to fulfill the current specifications requested by global battery supply chain players and working parties. As we understand the essence of the growing North American battery industry, we plan to push efforts to become a global silicon anode supplier.”