NEO BATTERY MATLS LTD - NBMFF STOCK NEWS

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.

NEO Battery Materials Ltd. (OTCQB: NBMFF) has been invited by Plug and Play Tech Center to present its Electric Vehicle Silicon Anode Commercialization Plan at the 2022 Annual Japan & Korea Pitch Session. Scheduled for May 3, the event will showcase NEO's proprietary silicon anode materials, NBMSiDE™, which have a high specific capacity of over 2,500 mAh/g. The company will also host a webinar discussing updates on its Silicon Anode Commercial Plant and other developments, aimed at enhancing its position in the electric vehicle supply chain.

NEO Battery Materials Ltd. (OTCQB: NBMFF) announced a shift from battery mineral exploration to battery technology, applying for a 'change of business' with the TSX Venture Exchange. The planned Commercial Plant aims to produce 240 tons per year of proprietary silicon anode materials, NBMSiDE™, for lithium-ion batteries. The transition requires shareholder approval and may necessitate sponsorship. The company is also pursuing strategic investments to meet Tier 2 listing requirements. CEO Spencer Huh emphasizes the importance of this transition for enhancing shareholder value.