NEO Battery Materials Awarded as Consortium Partner in $20M Recycled Silicon Battery Project by South Korean Government
NEO Battery Materials has been selected as a consortium partner in a CAD$20M recycled silicon battery project organized by the South Korean Ministry of Trade, Industry, and Energy. The 5-year project, led by Hansol Chemical, focuses on developing high-performance silicon anode materials from recycled semiconductor and photovoltaic wafer manufacturing waste. NEO will collaborate with major partners including INNOX eco-M and LiBEST to develop silicon anode materials for high-content silicon anode batteries, leveraging approximately 900 tons of waste silicon produced annually in South Korea.
NEO Battery Materials è stata selezionata come partner del consorzio in un progetto di batterie al silicio riciclato del valore di 20 milioni di dollari canadesi, organizzato dal Ministero del Commercio, dell'Industria e dell'Energia della Corea del Sud. Il progetto, della durata di 5 anni e guidato da Hansol Chemical, si concentra sullo sviluppo di materiali per anodi in silicio ad alte prestazioni a partire dai rifiuti della produzione di semiconduttori e wafer fotovoltaici riciclati. NEO collaborerà con partner importanti, tra cui INNOX eco-M e LiBEST, per sviluppare materiali per anodi in silicio per batterie con elevato contenuto di silicio, sfruttando circa 900 tonnellate di silicio di scarto prodotte annualmente in Corea del Sud.
NEO Battery Materials ha sido seleccionada como socia del consorcio en un proyecto de baterías de silicio reciclado valorado en 20 millones de dólares canadienses, organizado por el Ministerio de Comercio, Industria y Energía de Corea del Sur. El proyecto de 5 años, dirigido por Hansol Chemical, se centra en el desarrollo de materiales de ánodo de silicio de alto rendimiento a partir de residuos de la fabricación de semiconductores y wafers fotovoltaicos reciclados. NEO colaborará con socios importantes, incluidos INNOX eco-M y LiBEST, para desarrollar materiales de ánodo de silicio para baterías de alto contenido en silicio, aprovechando aproximadamente 900 toneladas de silicio residual producidas anualmente en Corea del Sur.
NEO 배터리 소재가 한국의 산업통상자원부 주관의 2천만 캐나다 달러 규모의 재활용 실리콘 배터리 프로젝트에서 컨소시엄 파트너로 선정되었습니다. 5년 프로젝트로 한솔케미칼이 주도하며, 재활용된 반도체 및 태양광 웨이퍼 제조 폐기물로부터 고성능 실리콘 음극 소재를 개발하는 데 중점을 둡니다. NEO는 INNOX eco-M 및 LiBEST와 같은 주요 파트너와 협력하여 실리콘 함량이 높은 배터리에 사용할 실리콘 음극 소재를 개발하며, 매년 한국에서 약 900톤의 폐 실리콘을 활용할 예정입니다.
NEO Battery Materials a été sélectionnée comme partenaire de consortium dans un projet de batterie en silicium recyclé d'une valeur de 20 millions de dollars canadiens, organisé par le ministère sud-coréen du Commerce, de l'Industrie et de l'Énergie. Le projet de 5 ans, dirigé par Hansol Chemical, se concentre sur le développement de matériaux d'anode en silicium haute performance à partir de déchets de fabrication de semiconducteurs et de wafers photovoltaïques recyclés. NEO collaborera avec des partenaires majeurs, dont INNOX eco-M et LiBEST, pour développer des matériaux d'anode en silicium pour des batteries à fort contenu en silicium, en tirant parti d'environ 900 tonnes de déchets de silicium produites annuellement en Corée du Sud.
NEO Battery Materials wurde als Konsortialpartner für ein 20 Millionen kanadische Dollar schweres Projekt zur recycelten Siliziumbatterie ausgewählt, das vom südkoreanischen Ministerium für Handel, Industrie und Energie organisiert wird. Das 5-jährige Projekt wird von Hansol Chemical geleitet und konzentriert sich auf die Entwicklung von Hochleistungs-Siliziumanodenmaterialien aus recyceltem Abfall der Halbleiter- und Photovoltaikwafersproduktion. NEO wird mit wichtigen Partnern wie INNOX eco-M und LiBEST zusammenarbeiten, um Siliziumanodenmaterialien für Batterien mit hohem Siliziumgehalt zu entwickeln und dabei jährlich etwa 900 Tonnen Abfallsilizium aus Südkorea zu nutzen.
- Secured participation in CAD$20M government-funded project
- Partnership with major South Korean battery industry players
- Access to significant silicon waste supply (900 tons annually)
- 5-year project timeline ensuring long-term development support
- Development outcomes and commercial viability remain uncertain
- Timeline of 5 years indicates long path to potential commercialization
- Awarded as Consortium Partner in CAD
$20M Recycled Silicon Battery Project Organized by the South Korean Ministry of Trade, Industry, and Energy - Major South Korean Battery Value Chain Companies and Universities as Consortium Partners
- Hansol Chemical as Head Project Organization along with South Korea’s Largest Cathode Materials Producer, INNOX eco-M, LiBEST, etc.
- Project Focus: Developing High-Performance, Low-Cost Silicon Anode Materials Based on Silicon Waste from Semiconductor and Photovoltaic Wafer Manufacturing
- NEO Battery Materials Acting as Downstream Participant to Jointly Develop High-Performance Silicon Anode Materials with Consortium Partners
TORONTO, Nov. 20, 2024 (GLOBE NEWSWIRE) -- NEO Battery Materials Ltd. (“NEO” or the “Company”) (TSXV: NBM) (OTC: NBMFF), a low-cost silicon anode materials developer that enables longer-running, rapid-charging lithium-ion batteries, is pleased to announce that the Company has been awarded as a consortium partner along with major battery value chain companies and universities in a CAD
In a project titled “Recycled Silicon-Based High Energy Density Electrode Manufacturing Technology Development,” the South Korean Ministry of Trade, Industry, and Energy (MOTIE) and the Korea Evaluation Institute of Industrial Technology (KEIT) will invest approximately CAD
With Hansol Chemical, a leading South Korean chemical materials company, as the head project organization, several major battery and chemicals companies are participating as consortium partners, including South Korea’s largest cathode materials producer, INNOX eco-M (NEO’s recycled silicon collaborator), and LiBEST.
The project will focus on developing high-performance silicon anode materials based on recycled silicon scrap from semiconductor and photovoltaic wafer manufacturing. Consortium partners recognize that solving the limitations of waste materials is critical to achieving price and technological competitiveness for silicon anodes and strengthening sustainability in the lithium-ion battery industry.
NEO Battery Materials will act as a downstream value chain participant. Using recycled silicon inputs optimized with low-cost technologies, NEO will jointly develop silicon anode materials with consortium partners to manufacture high-content silicon anode batteries. This project directly advances the Company’s strategic plan to secure low-cost, high-performance silicon feedstock.
Mr. Spencer Huh, Director, President, and CEO of NEO, commented, “NEO Battery Materials is highly pleased to be a consortium partner in this key project organized by the South Korean federal government. Along with major battery industry players, we are confident in developing low-cost silicon anode materials to attain material circularity and supply chain resiliency. With approximately 900 tons of waste silicon produced annually in South Korea, all consortium partners are motivated to develop effective technologies to recycle and reuse all waste generated moving forward.”
About NEO Battery Materials Ltd.
NEO Battery Materials is a Canadian battery materials technology company focused on developing silicon anode materials for lithium-ion batteries in electric vehicles, electronics, and energy storage systems. With a patent-protected, low-cost manufacturing process, NEO Battery enables longer-running and ultra-fast charging batteries compared to existing state-of-the-art technologies. The Company aims to be a globally-leading producer of silicon anode materials for the electric vehicle and energy storage industries. For more information, please visit the Company’s website at: https://www.neobatterymaterials.com/.
On Behalf of the Board of Directors
Spencer Huh
Director, President, and CEO
Tel: +1-437-451-7678
For Investor Relations, PR & More Information:
info@neobatterymaterials.com
This news release includes certain forward-looking statements as well as management's objectives, strategies, beliefs and intentions. All information contained herein that is not clearly historical in nature may constitute forward-looking information. Generally, such forward-looking information can be identified notably, but not limited to, by the use of forward-looking terminology such as "plans", "expects," or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur", "be achieved", and similar words referring to future events and results. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: (i) volatile stock prices; (ii) the general global markets and economic conditions; (iii) the possibility of write-downs and impairments; (iv) the risk associated with the research and development of advanced technologies; (v) the risk associated with the effectiveness and feasibility of technologies that have not yet been tested or proven on commercial scale; (vi) the risks associated with entering into joint ventures, collaboration agreements, joint development agreements, and similar commercial agreements; (vii) fluctuations in input precursor prices; (viii) the risks associated with uninsurable risks arising during the course of research, development and production; (ix) competition faced by the resulting issuer in securing experienced personnel and financing; (x) access to adequate infrastructure to support battery materials research and development activities; (xi) the risks associated with changes in the technology regulatory regime governing the Company; (xii) the risks associated with the various environmental regulations the Company is subject to; (xiii) risks related to regulatory and permitting delays; (xiv) the reliance on key personnel; (xv) liquidity risks; (xvi) the risk of litigation; and (xvii) risk management, as described in more detail in our recent securities filings available at www.sedarplus.com. Forward-looking information is based on assumptions management believes to be reasonable at the time such statements are made, including but not limited to, continued research and development activities, no material adverse change in precursor prices and development plans to proceed in accordance with plans and such plans to achieve their stated expected outcomes, receipt of required regulatory approvals, and such other assumptions and factors as set out herein. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such forward-looking information. Such forward-looking information has been provided for the purpose of assisting investors in understanding the Company's business, operations, research and development, and commercialization plans and may not be appropriate for other purposes. Accordingly, readers should not place undue reliance on forward-looking information. We assume no obligation to revise or update these forward-looking statements except as required by applicable law.
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FAQ
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