NEO Battery Materials Ltd said it has entered into a second licensing agreement with Yonsei University-Industry Foundation (YUIF) in South Korea.
The new deal will see NEO granted an exclusive worldwide license for the patent regarding silicon anode nanocoating technology for lithium-ion batteries.
READ: NEO Battery Materials inks agreement with Ferroglobe for silicon anode technology
According to the company, the agreement is with regards to a modified carbon nanotube (CNT) coating material that is directly integrable and suitable with NEO's current silicon (Si) nanocoating technology and process.
The modified CNT coating technology presents substantial improvements in long-term stability and output characteristics compared to conventional CNT/silicon mixture anodes. The patent in the agreement is currently pending in South Korea, and NEO will file the same invention through the Patent Cooperation Treaty (PCT) for international IP protection.
"We are excited to have licensed another key technology from YUIF to strengthen NEO's product portfolio. Striking this licensing agreement has been successful due to the consistent progress of our collaborative development with Yonsei University. We are expecting to strengthen our IP portfolio by adding more patents going forward,” Spencer Huh, president and CEO of NEO said in a statement.
While NEO Battery Materials plans on expediting the process of commercializing the main elastomer nanocoating technology, the firm is also planning to utilize this modified CNT coating technology as another product pipeline for its nano-coating material on silicon anodes.
There will also be an examination into the scalability of the additional material for production.
"When formulating Si anodes, NEO has great confidence in realizing greater cost reductions through utilizing both solution-based coating technology and metallurgical-grade Si microparticles,” said Dr JH Park, director and Chief Scientific Advisor at NEO said. “Further detailed technical updates on NEO's CNT coating technology will be provided continually,"
Lastly, CNTs have been used as a conducting agent for existing cathode materials. Due to its superior conductivity compared to existing conductive additives, CNTs have been implemented into high-performance secondary (rechargeable) batteries, and recently, the materials have been applied to silicon anodes such as those in the Porsche Taycan.
The global CNT market is expected to grow to US$1.7 billion by 2026 with a compound annual growth rate of 14.4% from 2021.
Based in Vancouver, NEO Battery Materials has several mining stakes in the province. Additionally, the company is also focusing on developing silicon anodes, which provide improvements in capacity and efficiency over lithium-ion batteries using graphite in their anode materials.
Contact the writer at georgia@proactiveinvestors.com
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