Vancouver, British Columbia – August 26, 2021
NEO Battery Materials Ltd. (TSXV: NBM) (OTC: NBMFF) (“NEO” or the “Company”) is pleased to announce that the Company has received three additional prototype requests by global-tier battery materials and metals manufacturers and an automotive company. This follows the first samples of NEO’s silicon anode prototype sent.
Mr. Spencer Huh, President and CEO of NEO, commented, “Our proprietary Si anode materials have been garnering a greater amount of attention from all points and players in the lithium-ion battery value chain for electric vehicle applications. The synergistic relationship between NEO’s performance advantages and low-cost manufacturing process is of particular interest to the counterparties. With current developments to commercial-scale manufacturing, we are on-track and are confident to increase the silicon loading in the anode material for boosting the energy density and lifespan of state-of-the-art lithium-ion batteries.”
NEO is currently in the process of manufacturing more prototype samples to meet the demand and is refining the prototype for further improvements in the performance of the material. NEO will soon announce a trademarked name of the prototype for its first-generation silicon anode materials. In-house full cell evaluations are also underway with NEO’s silicon anode materials, and test results will be updated shortly. Full cell testing is inclusive of the cathode and anode material. As both participate in the electrochemical reaction, the properties and performance of the cell can be directly evaluated.
Mr. Sung Rock Hwang, former Samsung SDI Executive and Chief Operating Officer of NEO, added, “These are exciting times for NEO Battery Materials as our product is delivering what the industry is demanding for silicon anodes: longer run-time through controlled volume expansion, fast-charging levels, and low-cost production. The South Korean pilot plant will enable us to further extend the potential of collaboration with the battery cell giants and receive further validation for our product and process.”
About Mr. Sung Rock Hwang
Mr. Sung Rock Hwang has over 30 years’ experience working for Samsung SDI, serving as the executive director and chief of purchasing, and advisor until 2018. His responsibilities included managing the supply chain, procurement planning, and advanced business development. During his time with Samsung SDI, Mr. Hwang accumulated a vast network and information pipeline within the lithium-ion battery industry. He has a deep understanding of business development and trade capabilities, as well specialized knowledge in raw materials, such as cobalt, nickel, and aluminum.
About NEO Battery Materials Ltd.
NEO Battery Materials Ltd. is a Vancouver-based resource company focused on battery metals and materials. The Company has staked new mining claims in Golden, BC, along a strike with a quartzite bed, targeting silica in the quartzites for a total of 467 hectares. NEO is also focusing on developing silicon anodes, which provide improvements in capacity and efficiency over lithium-ion batteries using graphite in their anode materials. The Company intends to become an integrated silicon producer and anode materials supplier to the electric vehicle industry. For more information, please visit the Company’s website at: https://www.neobatterymaterials.com/.
On behalf of the Board of Directors
President and CEO
This news release includes certain forward-looking statements as well as management’s objectives, strategies, beliefs and intentions. Forward looking statements are frequently identified by such words as “may”, “will”, “plan”, “expect”, “anticipate”, “estimate”, “intend” and similar words referring to future events and results. Forward-looking statements are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, the effectiveness and feasibility of technologies which have not yet been tested or proven on a commercial scale, competitive risks and the availability of financing, as described in more detail in our recent securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward-looking statements and we caution against placing undue reliance thereon. 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.
THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES