NEO Battery Materials Receives First Purchase Order for Silicon Anode Materials
05 Septembre 2023 - 6:35PM
(
TSXV:
NBM) (
OTCQB: NBMFF)
- Received First
Purchase Order for 0.4 Metric Tonnes of Proprietary Silicon Anodes,
NBMSiDE®, by an Asian Chemical Material Company under NDA
- Order Received
through South Korean Subsidiary, NBM Korea Co.
- Plans to Supply
Over One (1) Year with Optimized Samples
- Large Volume
Test for Purpose of Integrating NBMSiDE® into Customer’s Battery
Materials to Develop Composite Anode Materials
- Customer will
Present Developed Products to Global Battery & EV Manufacturers
for Use in Commercial Lithium-Ion Batteries
NEO Battery Materials Ltd.
(“NEO” or the
“Company”),
a low-cost silicon anode materials developer that enables
longer-running, rapid-charging lithium-ion batteries, is pleased to
receive the first purchase order (“P.O.”) for 0.4
metric tonnes (400 kilograms) of NEO’s proprietary silicon anode
materials, NBMSiDE®, by an Asian chemical material company (the
“Customer”) under NDA.
Through NEO’s South Korean subsidiary, NBM Korea
Co., an initial volume P.O. was placed for the Customer’s purpose
of combining NBMSiDE® products with the Customer’s battery
materials to develop composite anodes for commercial-level
lithium-ion battery use. Due to the large volume order that exceeds
the gratuitous sample limit, the transaction was recognized as a
purchase order, and NEO plans to supply over a one (1) year
timeline, delivering gradually optimized samples.
Mr. Spencer Huh, President & CEO of NEO,
commented, “We are excited to extend our relationship with the
chemical material company to take another step towards
collaborative commercialization. The unnamed Customer will test
NBMSiDE® within their materials and system to present their
products to multiple global battery cell manufacturers & EV
automakers they have been cooperating on a long-term basis.
Positive performance developments are opening and driving new
opportunities for advanced agreements continuously, and we expect
to secure additional bulk sample P.O.s for large volume
testing.”
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-fasting charging batteries compared to existing
state-of-the-art technologies. Building the first commercial plant
in South Korea, the Company aims to be a globally-leading producer
of silicon anode materials to 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 DirectorsSpencer
HuhPresident and CEO604-355-6463shuh@neobatterymaterials.com
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