NEO Battery Materials provides an update on the installation of additional equipment for optimizing volume production and the late stages of commercial plant design for construction.Canadian Business Journal

VANCOUVER, British Columbia, October 21, 2022 (GLOBE NEWSWIRE) — (T.S.XⅤ: NBMMore) (OTCQB: NBMFF)

• Successful introduction of additional equipment for stepping up the mass production process and optimizing the product
• Preparing for new and additional material evaluations of further optimized silicon anodes by NDA partners in Korea, USA and Europe
• Development of additional product series using graphite and CNT composite anodes
• Late stage of commercial plant design in early construction stage

NEO Battery Materials Co., Ltd. (“Neo” or “Haobready”) included 1) additional installation of equipment for agile optimization of mass production processes and products, 2) new and additional material evaluations for further optimized silicon anode products, 3) using graphite and CNT We are pleased to provide updates on the development of additional product lines, 4) late stage commercial plant design and permit application timelines, and 5) recent corporate development activity.

Installation of additional equipment for agile mass production optimization, evaluation of materials for downstream users by in-house cell assembly, and development of additional product series
NBM Korea has successfully added production facilities to its R&D scale-up center, intensifying efforts to step-by-step optimize the all-in-one mass production process of NEO’s silicon anode material, NBMSiDE™. This scale-up milestone enables agile product development by allowing a range of NBMSiDE™ material properties and manufacturing costs to be evaluated and tailored to meet varying downstream customer specifications. Through in-house coin cell assembly and electrochemical characterization, we are ready for further optimized additions and new material evaluations of his NBMSiDE™ anodes from more than 35 of his NDA partners in Korea, USA and Europe. We are.

Further research and development is underway to introduce additional NBMSiDE™ product lines. To directly address the needs of battery cell manufacturers, NEO is developing silicon-graphite composite anodes that are easy to integrate into battery cells and maximize compatibility. Another pilot composite anode using carbon nanotube (CNT) material that can alleviate the problem of volume expansion of silicon particles has been developed and evaluated. All NBMSiDE™ series are manufactured based on metallurgical grade silicon microparticle raw material and all-in-one process, which enables significant cost savings through low input and lean manufacturing.

Commercial Plants: Permitting timelines for late stage building design and early construction and foundation work
The production and research buildings are in the final stages of architectural design and the relevant permits are expected to be submitted to the relevant cities in December 2022. Use of the production building will involve the installation of future NBMSiDE™ mass production lines. and utility facilities, and a research office building will house the current equipment, test facilities, and personnel of the NBM Korea Scale-Up Center at Yonsei University.

As soon as permission is granted, we will begin initial construction, including foundation work. Considering the volatility of the financial market and raw material prices, and the procurement schedule for NBMSiDE™ mass production equipment with long lead times and delivery times, construction will be completed sequentially.

Corporate development updates
The company signed NDAs with three European companies and one US company last month, and European companies will visit NBM Korea’s R&D scale-up center to discuss practical cooperation initiatives such as joint development agreements (JDA). is. .

About NEO Battery Materials Ltd.
NEO Battery Materials Ltd. is a Vancouver-based company focused on lithium-ion battery materials for electric vehicles. NEO focuses on manufacturing silicon anode materials through a proprietary single-step nano-coating process. This provides higher capacity and efficiency than lithium-ion batteries that use graphite as the anode material. The company aims to become a silicon anode active material supplier for the electric vehicle industry. For more information, please visit our company’s website (https://www.neobatterymaterials.com/).

On behalf of the Board of Directors
spencer hoo
Representative Director and President
604-355-6463
[email protected]

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