NEO Battery Materials Ltd. (TSX-V:NBM) announced that it has signed a non-exclusive collaboration agreement with NanoRial Technologies Ltd, a technology developer of fully-dispersed carbon nanotubes (CNT) capable of improving the conductivity, capacity, and ultra-fast charge rate of batteries.
NEO said the two companies will collaborate to optimize the stability and performance of its silicon anode materials, NBMSiDE, by integrating NanoRial’s high-performance CNT products as a robust nanocoating material.
Both parties recognize that implementing CNT technology can advance the commercial-level use of silicon anodes in electric vehicle (EV) batteries and will accordingly expand on mutual business opportunities in the lithium-ion battery supply chain, NEO added.
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“We are excited to be working with NanoRial to build on one of the many collaboration and joint development agreements we expect to achieve this year,” NEO president and CEO Spencer Huh said in a statement.
“With our R&D efforts to integrate CNTs into NBMSiDE, we are actively expanding the product portfolio to fulfill the current specifications requested by global battery supply chain players and working parties," Huh added. “As we understand the essence of the growing North American battery industry, we plan to push efforts to become a global silicon anode supplier.”
Once the company redomiciles into Ontario, NEO said it intends to jointly apply to governmental, non-dilutive funding programs with NanoRial to increase business presence and exposure in the Canadian battery supply chain.
With Canada placing 2nd in Bloomberg NEF’s global battery supply chain rankings, NEO said it aims to build lasting relationships with government officials to secure direct funding from the Ontario provincial government, supercluster projects from NGen Manufacturing Canada, and federal programs through the department of Innovation, Science and Economic Development (ISED).
“Providing one of the best solutions of CNT products in the industry, NanoRial is excited and confident to collaborate with NEO to accelerate its commercialization efforts,” NanoRial CEO Dr Chitral Angammana added. “NanoRial is currently engaged with global, multinational firms in the battery industry, testing our well-dispersed CNT products to improve the electrical conductivity, energy density, and lifetime of lithium-ion batteries. We hope to share this business network and look forward to growing our products on a global scale.”
NEO Battery Materials is focused on producing silicon anode materials through its proprietary single-step nanocoating process, which provides improvements in capacity and efficiency over lithium-ion batteries using graphite in their anode materials. The company intends to become a silicon anode active materials supplier to the electric vehicle industry.
Contact the author at stephen.gunnion@proactiveinvestors.com