NEO Battery Materials Ltd. (TSX-V:NBM) has provided investors with an update on its previously announced plans to establish NBM America Ltd as a private subsidiary company in Ohio, United States.
The company said in the past two weeks, management has engaged and discussed with JobsOhio through South Korean representatives and REDI Cincinnati, Ohio’s business and economic development organizations.
To operate in the optimal location in the US battery industry, NBM America will work with organization officials for site search and selection, state-level non-dilutive grants, talent acquisition, and regional public relation development, NEO noted.
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To expedite the timeline for joint venture opportunities, NEO said it plans to establish an R&D Center to manufacture silicon anode samples for North American battery manufacturers.
“This strategic facility will increase logistical efficiency by reducing the backlog time between material evaluation and optimization,” NEO said.
The company has also initiated discussions with US venture capital firms to secure series funding for NBM America, and NEO aims to develop complementary value-enhancing projects.
NBMSiDE silicon anode production evaluation and pipeline
In addition, NEO told investors that after recently signing five additional NDAs in the EV battery industry, that it is in the feedback process of manufacturing and delivering performance-optimized NBMSiDE for further evaluation.
“The high-capacity characteristics have attracted the interest of several battery cell and material manufacturers, and various testing is planned with solid-state electrolytes and industry-standard NMC and LFP cathodes,” the company said.
NEO noted that in the South Korean Scale-Up Center, the R&D engineering team is scheduled to utilize in-house manufacturing capabilities for full cell testing with silicon anodes, and due to positive feedback, larger-format evaluations with pouch-type cells will commence with NDA partners.
Plus, the company noted that in collaboration with NanoRial Technologies and Applied Carbon Nano Technology, it has sought further cooperation with CNT manufacturers to fortify the product differentiation strategy.
NEO Battery Materials is a Vancouver-based company focused on electric vehicle lithium-ion battery materials. The company 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.
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