NEO Battery Materials Signs Letter of Intent for Joint Venture with Lotus Energy Recycling
NEO Battery Materials (TSXV: NBM) (OTC: NBMFF) has signed a non-binding Letter of Intent (LOI) with Lotus Energy Recycling to form a joint venture for recycling end-of-life photovoltaic cells and solar panels in North America. The JV will focus on recovering valuable silicon materials for battery applications, particularly for the lithium-ion battery supply chain.
Key points of the LOI include:
- Establishing physical operations in Canada for collecting, dismantling, and recycling PV cells and solar panels
- Leveraging Lotus' recycling expertise and NEO's silicon anode manufacturing knowledge
- Optimizing recovered silicon for battery applications
- Conducting joint R&D to refine recycling processes and technologies
The initiative aims to create a sustainable, resilient, and circular supply chain for battery materials and cell production. NEO has already begun testing and evaluating Lotus' recycled silicon feedstock for potential use in their silicon anode materials.
NEO Battery Materials (TSXV: NBM) (OTC: NBMFF) ha firmato una Lettera di Intenti (LOI) non vincolante con Lotus Energy Recycling per formare una joint venture per il riciclaggio di celle fotovoltaiche e pannelli solari a fine vita in Nord America. La JV si concentrerà sul recupero di materiali di silicio preziosi per applicazioni nelle batterie, in particolare per la catena di fornitura delle batterie al litio.
Punti chiave della LOI includono:
- Stabilire operazioni fisiche in Canada per la raccolta, dissezione e riciclaggio di celle PV e pannelli solari
- Sfruttare l'esperienza di riciclaggio di Lotus e le conoscenze di produzione di anodi in silicio di NEO
- Ottimizzare il silicio recuperato per applicazioni nelle batterie
- Condurre R&S congiunta per perfezionare i processi e le tecnologie di riciclaggio
Iniziativa mira a creare una catena di fornitura sostenibile, resiliente e circolare per i materiali delle batterie e la produzione di celle. NEO ha già iniziato a testare e valutare la materia prima di silicio riciclato di Lotus per un potenziale utilizzo nei loro materiali di anodo in silicio.
NEO Battery Materials (TSXV: NBM) (OTC: NBMFF) ha firmado una Carta de Intención (LOI) no vinculante con Lotus Energy Recycling para formar una empresa conjunta para el reciclaje de células fotovoltaicas y paneles solares al final de su vida útil en América del Norte. La JV se centrará en recuperar materiales de silicio valiosos para aplicaciones en baterías, en particular para la cadena de suministro de baterías de iones de litio.
Puntos clave de la LOI incluyen:
- Establecer operaciones físicas en Canadá para la recolección, desmontaje y reciclaje de celdas PV y paneles solares
- Aprovechar la experiencia de reciclaje de Lotus y el conocimiento de fabricación de ánodos de silicio de NEO
- Optimizar el silicio recuperado para aplicaciones en baterías
- Realizar I+D conjunta para refinar procesos y tecnologías de reciclaje
La iniciativa tiene como objetivo crear una cadena de suministro sostenible, resiliente y circular para materiales de baterías y producción de celdas. NEO ya ha comenzado a probar y evaluar la materia prima de silicio reciclado de Lotus para su posible uso en sus materiales de ánodo de silicio.
NEO Battery Materials (TSXV: NBM) (OTC: NBMFF)은 북미에서 폐태양광 셀과 태양광 패널을 재활용하기 위해 Lotus Energy Recycling와 비구속적인 의향서(LOI)를 체결했습니다. 이 합작 투자는 리튬 이온 배터리 공급망에 특히 필요한 배터리 응용 프로그램을 위한 귀중한 실리콘 자재 회수에 중점을 둘 것입니다.
LOI의 주요 사항은 다음과 같습니다:
- 캐나다에서 PV 셀과 태양광 패널을 수집, 분해 및 재활용하는 물리적 작업을 설정
- Lotus의 재활용 전문성과 NEO의 실리콘 음극 제조 지식을 활용
- 배터리 응용 프로그램을 위해 회수된 실리콘 최적화
- 재활용 프로세스 및 기술을 개선하기 위한 공동 연구 및 개발
이 이니셔티브는 배터리 자재 및 셀 생산을 위한 지속 가능하고 회복력 있는 순환 공급망을 만들기 위한 목표입니다. NEO는 이미 Lotus의 재활용 실리콘 원자재를 테스트하고 평가하여 자사의 실리콘 음극 자재에 잠재적으로 사용하는 방법을 검토하고 있습니다.
NEO Battery Materials (TSXV: NBM) (OTC: NBMFF) a signé une Lettre d'Intentions (LOI) non contraignante avec Lotus Energy Recycling pour former une joint-venture dédiée au recyclage des cellules photovoltaïques et des panneaux solaires en fin de vie en Amérique du Nord. La JV se concentrera sur la récupération de matériaux de silice précieux pour les applications de batteries, en particulier pour la chaîne d'approvisionnement des batteries lithium-ion.
Les points clés de la LOI comprennent :
- Établir des opérations physiques au Canada pour la collecte, le démantèlement et le recyclage des cellules PV et des panneaux solaires
- Exploiter l'expertise en recyclage de Lotus et les connaissances de fabrication d'anodes en silice de NEO
- Optimiser le silicium récupéré pour les applications de batteries
- Réaliser des activités de R&D conjointes pour peaufiner les processus et technologies de recyclage
L'initiative vise à créer une chaîne d'approvisionnement durable, résiliente et circulaire pour les matériaux de batteries et la production de cellules. NEO a déjà commencé à tester et à évaluer la matière première en silicium recyclé de Lotus pour un usage potentiel dans ses matériaux d'anode en silicium.
NEO Battery Materials (TSXV: NBM) (OTC: NBMFF) hat ein unverbindliches Letter of Intent (LOI) mit Lotus Energy Recycling unterzeichnet, um ein Joint Venture zum Recycling von Photovoltaikzellen und Solarpanels am Ende ihres Lebenszyklus in Nordamerika zu gründen. Das Joint Venture wird sich auf die Rückgewinnung wertvoller Siliziummaterialien für Batterieanwendungen konzentrieren, insbesondere für die Lithium-Ionen-Batterieversorgungskette.
Wichtige Punkte des LOI sind:
- Einrichtung physischer Betriebe in Kanada zur Sammlung, Demontage und zum Recycling von PV-Zellen und Solarpanels
- Nutzung der Recycling-Expertise von Lotus und des Wissens von NEO über die Herstellung von Siliziumnoxen
- Optimierung des recycelten Siliziums für Anwendungen in Batterien
- Durchführung gemeinsamer Forschung und Entwicklung zur Verfeinerung von Recyclingprozessen und -technologien
Die Initiative zielt darauf ab, eine nachhaltige, widerstandsfähige und zirkuläre Lieferkette für Batteriematerialien und Zellproduktion zu schaffen. NEO hat bereits begonnen, das recycelte Siliziumrohmaterial von Lotus zu testen und zu bewerten, um es potenziell in ihren Siliziumnoxen zu verwenden.
- Potential for a new revenue stream through joint venture in PV cell and solar panel recycling
- Opportunity to secure a sustainable source of silicon for battery materials production
- Expansion into the growing market of sustainable and circular supply chains for battery materials
- Leveraging complementary expertise with Lotus Energy Recycling to optimize recycling processes
- LOI is non-binding, with no material terms or considerations specified
- Uncertain timeline for reaching a definitive agreement and commencing JV operations
- Potential capital expenditure required for establishing physical operations in Canada
- Letter of Intent Signed with Lotus Energy Recycling for Canadian Joint Venture
- To Collaborate on Recycling End-of-Life Photovoltaic (PV) Cells and Solar Panels in North America
- Focus on Recovering Valuable Silicon Materials for Battery Applications
- Initiated Recovered Silicon Material Testing and Evaluation for Anode Active Material Development in Lithium-Ion Batteries
TORONTO, Oct. 21, 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 the signing of a non-binding Letter of Intent (“LOI”) with collaborating partner, Lotus Energy Recycling (“Lotus”) on October 8, 2024. The LOI outlines the intent to form a joint venture (“JV”) focused on recycling end-of-life photovoltaic (PV) cells and solar panels in North America. Recovering valuable silicon materials for the lithium-ion battery supply chain will be a key emphasis of the project. There are no material terms or considerations with respect to the LOI.
As per the press release on July 26, 2024, NEO and Lotus entered into a collaboration agreement to develop silicon anode products manufactured from recycled solar PV cells. Since then, both parties have actively discussed exploring JV opportunities to create a North American recycling footprint. The initiative prioritizes i) de-risking environmental concerns during silicon raw material production and ii) diversifying NEO’s silicon upstream sources.
The planned JV will establish physical operations in Canada to collect, dismantle, and recycle end-of-life PV cells and solar panels. The primary goal is to recover high-purity silicon and other valuable materials to create a sustainable, resilient, and circular supply chain for battery materials and cell production. JV activities are expected to commence soon after a definitive agreement is reached between both parties.
As the LOI outlines, the JV aims to leverage Lotus’ proprietary recycling know-how and NEO’s expertise in silicon anode manufacturing. Key technological priorities are optimizing the recovered silicon for battery applications and improving recycling process operations. Moreover, joint research and development activities are planned to refine the processes and technologies employed in the recycling operations.
Mr. Spencer Huh, Director, President and CEO of NEO, stated, “Following our collaboration agreement, we have initiated sample testing and evaluation of Lotus’ recycled silicon feedstock. We aim to invest our resources to optimize these materials as the theme and importance of supply chain circularity and resiliency continue to grow. We aim to negotiate in good faith to reach an agreement to initiate Canadian recycling operations.”
Mr. Anthony Vippond, Co-Founder and CEO of Lotus, expressed, “The innovation objectives between Lotus and NEO are well aligned. We both strongly believe in the application of silicon into advanced battery materials. This recent LOI is a step towards our joint vision for electric vehicle battery applications. With complementary technologies and objectives, both companies will explore mutual opportunities via the proposed partnership and co-location of our operations.”
About Lotus Energy Recycling Pty Ltd.
Lotus Energy Recycling is an Australian-based company specializing in the recycling of photovoltaic solar cells and panels. Lotus employs proprietary technologies to recover high-purity silicon, ensuring environmentally-responsible disposal and repurposing of e-waste. Headquartered in Melbourne, Lotus Energy plans to establish a significant presence by constructing commercial facilities in Sydney, Melbourne, and Germany.
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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