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NEO Battery Materials Enters into Letter of Intent with Canadian Municipality for Commercial Facility Land Lease

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NEO Battery Materials (TSXV: NBM) (OTC: NBMFF) has entered into a non-binding letter of intent with an undisclosed Canadian municipality to lease approximately 8 acres of land for its commercial silicon anode manufacturing facility. The facility plans to produce 5,000 tons annually of silicon anode materials for lithium-ion batteries. The agreement includes tax incentives and favorable lease rates compared to commercial market properties. The development aligns with NEO's strategy to capitalize on Canada's aggressive government policies and financial support for battery projects, particularly as Canada ranked first in BloombergNEF's 2024 Global Lithium-Ion Battery Supply Chain Ranking.

NEO Battery Materials (TSXV: NBM) (OTC: NBMFF) ha stipulato una lettera di intenti non vincolante con un comune canadese non rivelato per affittare circa 8 acri di terreno per il suo stabilimento di produzione di materiali anodi in silicio. Lo stabilimento prevede di produrre 5.000 tonnellate all'anno di materiali anodi in silicio per batterie agli ioni di litio. L'accordo include incentivi fiscali e tariffe di locazione favorevoli rispetto alle proprietà commerciali sul mercato. Lo sviluppo si allinea alla strategia di NEO di sfruttare le aggressive politiche governative canadensi e il supporto finanziario per progetti legati alle batterie, soprattutto considerando che il Canada si è classificato al primo posto nella classifica BloombergNEF 2024 sulla catena di approvvigionamento globale delle batterie agli ioni di litio.

NEO Battery Materials (TSXV: NBM) (OTC: NBMFF) ha firmado una carta de intención no vinculante con un municipio canadiense no revelado para arrendar aproximadamente 8 acres de terreno para su instalación de fabricación de ánodos de silicio comercial. La instalación planea producir 5,000 toneladas anuales de materiales de ánodos de silicio para baterías de iones de litio. El acuerdo incluye incentivos fiscales y tarifas de arrendamiento favorables en comparación con las propiedades comerciales del mercado. El desarrollo se alinea con la estrategia de NEO de capitalizar las agresivas políticas gubernamentales y el apoyo financiero de Canadá para proyectos de baterías, especialmente dado que Canadá ocupó el primer lugar en el Ranking de la Cadena de Suministro Global de Baterías de Iones de Litio de BloombergNEF 2024.

NEO 배터리 소재 (TSXV: NBM) (OTC: NBMFF)는 비공개 캐나다 지역 정부와 비구속적인 의향서에 서명하여 상업용 실리콘 음극 제조 시설을 위한 약 8에이커의 토지를 임대하기로 했습니다. 이 시설은 리튬 이온 배터리용 실리콘 음극 재료를 연간 5,000톤 생산할 계획입니다. 이 계약에는 세금 인센티브와 상업 시장 부동산에 비해 유리한 임대료가 포함되어 있습니다. 이 개발은 캐나다의 공격적인 정부 정책과 배터리 프로젝트에 대한 재정 지원을 활용하려는 NEO의 전략에 부합하며, 특히 캐나다가 BloombergNEF 2024 년 글로벌 리튬 이온 배터리 공급망 순위에서 1위를 차지한 점이 주목할 만합니다.

NEO Battery Materials (TSXV: NBM) (OTC: NBMFF) a signé une lettre d'intention non contraignante avec une municipalité canadienne non divulguée pour louer environ 8 acres de terrain pour son usine de fabrication d'anodes en silicium commercial. L'installation prévoit de produire 5 000 tonnes par an de matériaux d'anodes en silicium pour les batteries lithium-ion. L'accord inclut des incitations fiscales et des taux de location favorables par rapport aux propriétés commerciales du marché. Ce développement s'inscrit dans la stratégie de NEO de tirer parti des politiques gouvernementales agressives et du soutien financier du Canada pour les projets de batteries, surtout que le Canada s'est classé premier dans le classement 2024 de BloombergNEF sur la chaîne d'approvisionnement mondiale des batteries lithium-ion.

NEO Battery Materials (TSXV: NBM) (OTC: NBMFF) hat mit einer nicht offengelegten kanadischen Gemeinde eine unverbindliche Absichtserklärung unterzeichnet, um etwa 8 Acres Land für seine kommerzielle Silizium-Anodenfertigungsanlage zu mieten. Die Anlage plant, 5.000 Tonnen jährlich an Silizium-Anodenmaterialien für Lithium-Ionen-Batterien zu produzieren. Die Vereinbarung umfasst steuerliche Anreize und günstige Mietkonditionen im Vergleich zu kommerziellen Immobilien. Die Entwicklung steht im Einklang mit NEOS Strategie, von den aggressiven staatlichen Maßnahmen und der finanziellen Unterstützung Kanadas für Batterieprojekte zu profitieren, insbesondere da Kanada in der BloombergNEF-Rangliste 2024 zur globalen Lithium-Ionen-Batterieversorgung an erster Stelle steht.

Positive
  • Secured 8 acres of land with tax incentives and favorable lease rates
  • Planned production capacity of 5,000 tons annually
  • Strategic location in Canada, ranked #1 in Global Lithium-Ion Battery Supply Chain
  • Proximity to major battery manufacturers including NextStar Energy, PowerCo, Northvolt, and E-One Moli Energy
Negative
  • LOI is non-binding and subject to reaching a definitive agreement
  • No material terms or considerations disclosed in the LOI

TORONTO, Oct. 29, 2024 (GLOBE NEWSWIRE) --

  • Letter of Intent Entered with Undisclosed Canadian Municipality for Purposes of Commercial Facility Land Lease
  • Intending to Secure Approximately 8 Acres of Municipal Land with Tax Incentives and Favourable Lease Terms
  • Plans to Construct and Operate Silicon Anode Manufacturing Plant Capable of Producing 5,000 Tons Per Year
  • To Capitalize on Aggressive Policies and Financial Support Provided by Canadian Governmental Authorities and Entities

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 entered into a non-binding letter of intent (the “LOI”) on September 6, 2024, with a Canadian municipality to lease approximately 8 acres of land for the construction and operation of NEO’s planned commercial manufacturing facility. The municipality and detailed terms will remain confidential until a definitive or formal agreement is reached. There are no material terms or considerations with respect to the LOI.

The Company intends to lease 8 acres or 350,000 square feet of municipal land to construct and operate its silicon anode commercial facility for lithium-ion batteries in electric vehicles (EV) and electronics. The LOI provides a framework for a long-term lease agreement to support NEO’s goal of commercializing Canada’s first advanced silicon anode project and the municipality’s economic development goals. With tax incentives and favourable lease rates compared to commercial market properties, the terms reinforce the Company’s priority of cost-effective expansion.

NEO plans to develop a multi-building manufacturing facility, which is expected to produce an aggregate silicon anode capacity of 5,000 tons annually. This facility will provide the Company with the necessary infrastructure and capability to meet the growing demand for high-performance, low-cost battery anode materials in the North American battery and EV market.

Canada currently houses and will house major battery companies, including NextStar Energy (LG Energy Solution & Stellantis Joint Venture), PowerCo (Volkswagen’s Battery Arm), Northvolt, and E-One Moli Energy. In 2024, Canada ranked first place in BloombergNEF’s Global Lithium-Ion Battery Supply Chain Ranking. Based on the criteria of supply chain reliability, sustainability, and potency, Canada has surpassed China from previous year’s rankings.

Mr. Spencer Huh, Director, President, and CEO of NEO, commented, “We are pleased to have entered into this LOI with the municipality after monthslong deliberation. This development aligns with our corporate strategy of initiating commercialization efforts in Canada to capitalize on aggressive government policies and financial support for battery and energy storage projects. Moreover, with the build-out of Canada’s EV ecosystem, we hope to accelerate zero-emission vehicle demand by producing low-cost silicon anode materials.”

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.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.


FAQ

What is the planned production capacity of NEO Battery Materials' (NBMFF) new facility in Canada?

The planned silicon anode manufacturing facility is expected to produce 5,000 tons annually of silicon anode materials for lithium-ion batteries.

How much land has NEO Battery Materials (NBMFF) secured for its new manufacturing facility?

NEO Battery Materials has entered into an LOI to lease approximately 8 acres (350,000 square feet) of municipal land in Canada.

What advantages does the Canadian location offer NEO Battery Materials (NBMFF)?

The Canadian location offers tax incentives, favorable lease rates, proximity to major battery manufacturers, and access to government support, with Canada ranking first in BloombergNEF's 2024 Global Lithium-Ion Battery Supply Chain Ranking.

NEO BATTERY MATLS LTD

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