NEO Battery Materials Ltd said it has successfully installed additional equipment for mass production optimization, among other achievements outlined to investors in a corporate update.
In the update, NEO highlighted its South Korean subsidiary NBM Korea Co’s successful installation of the additional production equipment into the R&D Scale-Up Centre to step-up efforts in incrementally optimizing the all-in-one mass production for NEO’s silicon anode materials, NBMSiDE.
The company said this scale-up milestone would enable agile production development as the series of NBMSiDE material characteristics and manufacturing costs can be evaluated and adjusted to meet the various specifications of downstream customers.
READ: NEO Battery Materials wraps up NBM Korea C$3 million financing and updates change of business application
Through in-house coin cell assembly and electrochemical characteristics analysis, the company added that it was preparing for additional and new material evaluations of further-optimized NBMSiDE anodes from more than 35 NDA partners located in South Korea, the United States, and Europe.
Further, the company revealed its late stages of building design and permit submission timeline for initial construction and groundwork at its commercial plant.
NEO said the production building and the research office building are in the late stages of architectural design, and the associated permits will be accordingly submitted to the relevant city in December 2022.
Upon the permit approval, the initial construction process including groundwork will be carried out. The buildings are to be completed sequentially considering the volatility of the financial markets and raw material prices and the procurement schedule regarding NBMSiDE mass production equipment with long lead/delivery times, the company said.
The full corporate update can be found here.
NEO Battery Materials is a Vancouver-based company 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 emily.jarvie@proactiveinvestors.com
Follow her on Twitter @emilyjjarvie