NEO BATTERY MATLS LTD - NBMFF STOCK NEWS

NEO Battery Materials Ltd. will host an investor update webinar on January 3, 2023, at 5:00 PM PT/8:00 PM ET to discuss their commercialization pathways, silicon anode technology improvements, and updates on the construction of their new commercial plant in South Korea. Key discussions will include collaborations with EV battery supply chain players and R&D scale-up activities. NEO aims to position itself as a leading supplier of silicon anode materials for lithium-ion batteries, enhancing their capacity and efficiency.

NEO Battery Materials Ltd. (TSXV: NBM, OTCQB: NBMFF) announced on November 30, 2022, the submission of a construction permit application for its Silicon Anode Commercial Plant in Pyeongtaek City, South Korea. The permit is expected to be approved within a month, allowing the company to commence initial groundwork and civil engineering activities. This facility aims to enhance production capabilities for silicon anode materials, crucial for lithium-ion batteries. The company's strategic focus is on optimizing construction and advancing its go-to-market strategy amidst a challenging economic environment.

NEO Battery Materials has received conditional approval from the TSX Venture Exchange for a proposed Change of Business into an Industrial, Technology, or Life Sciences Tier 2 Issuer. This strategic transition aims to enhance its position in the lithium-ion battery supply chain, particularly with its proprietary silicon anode materials, NBMSiDE™, as it develops a commercial plant in South Korea. The completion of this change will require additional approvals from the Exchange and shareholders. A meeting date for shareholder approval will be announced in a future release.

NEO Battery Materials Ltd. (TSXV: NBM, OTCQB: NBMFF) has made significant advancements in its production capabilities, including the installation of new equipment to enhance the mass production process of its silicon anode materials. The company is also evaluating optimized silicon anodes and developing additional product series combining graphite and carbon nanotubes (CNT). Furthermore, NEO is in the late stages of building design for its commercial plant, with permits expected to be submitted in December 2022. Recent corporate developments include signing NDAs with European and U.S. companies for potential collaborations.

NEO Battery Materials Ltd. (TSXV: NBM, OTCQB: NBMFF) announced a strategic investment of $3 million CAD from South Korean manufacturer Automobile & PCB Inc. on July 1, 2022. This investment equates to ₩ 3 billion KRW, with A&P acquiring 40% of NBM Korea's shares. The funds will support NEO's silicon anode material project for electric vehicle batteries and the establishment of a mass production facility in South Korea. NEO is also pursuing a Change of Business application to become a Tier 2 issuer with TSXV, pending shareholder approval.

NEO Battery Materials Ltd. (TSXV: NBM, OTCQB: NBMFF) announced significant advancements in its operations, including establishing in-house coin full cell production capability at its R&D Scale-Up Centre. This initiative aims to enhance time and cost efficiencies for optimizing its NBMSiDE™ products. The company is also collaborating with global battery manufacturers for ongoing sample evaluations and optimizing silicon anode products. Additionally, NEO is developing a new carbon nanotube-based silicon anode to boost performance and has signed a collaborative agreement with Yonsei University for commercialization efforts.

NEO Battery Materials has initiated the detailed design of its Silicon Anode Commercial Plant following the completion of basic manufacturing design in July 2022. The company is currently selecting verified equipment manufacturers for long-lead item procurement, while seeking construction-related permits from the Gyeonggi Provincial Government. Additionally, NEO has filed a key PCT patent for its silicon anode technology, aimed at enhancing structural durability and electrical conductivity. The detailed design is set for completion in October 2022 as NEO aims to strengthen its position in the EV battery materials market.

NEO Battery Materials Ltd. has signed a Collaboration Agreement with Applied Carbon Nano Technology Ltd. to advance its patent-pending Carbon Nanotube (CNT) coating technology for silicon anode materials. This partnership aims to enhance silicon's mechanical endurance, addressing volume expansion challenges. The CNT market is projected to reach $10.7 billion by 2028, growing at a CAGR of 10.8%. The collaboration is expected to create opportunities in the electric vehicle industry by utilizing ACN’s CNT technologies. Additionally, two new scientific advisors, Dr. Suk Min Moon and Dr. Dae Yeol Lee, have been appointed to support advancements in silicon anode technology.

NEO Battery Materials has signed a Memorandum of Understanding (MOU) with Automobile & PCB Inc. (A&P) to pursue strategic investments for a silicon anode commercial plant in South Korea. This partnership aims to leverage A&P's established automotive network, which includes suppliers like Hyundai and Kia Motors, enhancing NEO's market position. In 2021, A&P reported CAD $70M in revenues, while its affiliate, Yongsan, generated CAD $600M. The collaboration is expected to expedite NEO's financing efforts and expand its global business network.