Neo Battery Materials Ltd Stock Price, News & Analysis

NEO Battery Materials (TSXV: NBM) (OTC: NBMFF) has appointed Mr. Seok Hyung Lee as a new independent director of both the Company and NBM Korea, effective November 22, 2024. Lee brings over 50 years of legal and public service experience, having served as Lead Attorney for a Former South Korean President and Presiding Judge of the Seoul High Court. The company also announced a Battery Board Transition Initiative to restructure its board of directors with industry, finance, and governmental professionals over the next six months. As part of this transition, Christopher Chung has resigned as director.

NEO Battery Materials has been selected as a consortium partner in a CAD$20M recycled silicon battery project organized by the South Korean Ministry of Trade, Industry, and Energy. The 5-year project, led by Hansol Chemical, focuses on developing high-performance silicon anode materials from recycled semiconductor and photovoltaic wafer manufacturing waste. NEO will collaborate with major partners including INNOX eco-M and LiBEST to develop silicon anode materials for high-content silicon anode batteries, leveraging approximately 900 tons of waste silicon produced annually in South Korea.

NEO Battery Materials (TSXV: NBM) (OTC: NBMFF) has signed a Memorandum of Understanding with Linde Korea to advance the commercialization of its silicon anode technology. The collaboration focuses on incorporating Linde's industrial gases, specifically nitrogen and argon, as critical components in NEO's manufacturing process. These gases will play a vital role in maintaining production quality and minimizing oxidation risks. The partnership aims to support NEO's transition from pilot-scale to commercial-scale production, with Linde providing engineering expertise to optimize the manufacturing process. No material terms or considerations were disclosed for this MOU.

NEO Battery Materials (TSXV: NBM) (OTC: NBMFF) has entered into a non-binding letter of intent with an undisclosed Canadian municipality to lease approximately 8 acres of land for its commercial silicon anode manufacturing facility. The facility plans to produce 5,000 tons annually of silicon anode materials for lithium-ion batteries. The agreement includes tax incentives and favorable lease rates compared to commercial market properties. The development aligns with NEO's strategy to capitalize on Canada's aggressive government policies and financial support for battery projects, particularly as Canada ranked first in BloombergNEF's 2024 Global Lithium-Ion Battery Supply Chain Ranking.

NEO Battery Materials (TSXV: NBM) (OTC: NBMFF) has closed a non-brokered private placement of 2,000,000 units at $0.40 CAD per unit, raising gross proceeds of $800,000 CAD. Each unit includes one common share and one-half warrant, with each whole warrant exercisable at $0.75 CAD for 24 months. The proceeds will fund R&D activities for the company's silicon anode technology and working capital. No finder's fees will be paid, and shares are subject to a four-month plus one-day hold period. The offering requires final TSXV acceptance.

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) has signed a Joint Development Agreement (JDA) with a Fortune Global 500 multinational chemical materials company. The partnership aims to jointly develop and enhance silicon anode materials with advanced chemical coatings and methods for EV lithium-ion batteries. The collaboration is expected to improve silicon's structural durability and limit capacity degradation in batteries.

Key points:

• JDA Partner is a multi-billion dollar company with 40,000+ employees in over 50 countries
• Both parties intend to commercialize jointly enhanced silicon anodes upon successful development
• NEO Battery Materials CEO Spencer Huh views this as a major business milestone
• The partnership is expected to generate unmatched battery performance compared to state-of-the-art products

NEO Battery Materials (TSXV: NBM) (OTC: NBMFF) has closed the Share Purchase Agreement to acquire 20% of NBM Korea Co., from Automobile & PCB Inc. for $1,708,707 CAD. The transaction, classified as a Non-Arm's Length and Reviewable Transaction, is pending final acceptance from the TSX Venture Exchange. NEO Battery Materials, a low-cost silicon anode materials developer for lithium-ion batteries, aims to enable longer-running and ultra-fast charging batteries for electric vehicles and energy storage systems. The company is working towards becoming a globally-leading producer of silicon anode materials.

NEO Battery Materials (TSXV: NBM) (OTC: NBMFF) has signed a Memorandum of Understanding (MOU) with the University of Windsor to advance battery and energy storage technologies for Canada's electric vehicle (EV) ecosystem. The partnership aims to:

• Optimize silicon anodes and fabricate multi-layer battery cells
• Develop new component materials
• Cultivate highly qualified talent and workforce
• Commercialize innovations with new intellectual property
• Jointly apply for provincial/federal funding programs

This collaboration leverages industry-academia synergies to drive innovation in battery and sustainable mobility technologies, potentially benefiting the EV sector, Canadian economy, and society.