NEO Battery Materials and Linde Korea Sign MOU to Collaborate on Commercialization of Silicon Anode Technology
07 Novembro 2024 - 12:30PM
NEO Battery Materials
Ltd.(
TSXV:
NBM) (
OTC: NBMFF), a low-cost
silicon anode materials developer that enables longer-running,
rapid-charging lithium-ion batteries, is highly pleased to announce
the signing of a Memorandum of Understanding
(“
MOU”) with Linde Korea Co., Ltd.
(“
Linde”), an affiliate of the leading industrial
gases and engineering company, on November 6, 2024, to collaborate
on the scale-up of NEO’s silicon anode manufacturing for
lithium-ion batteries. There are no material terms or
considerations regarding this MOU.
Under the MOU, Linde, NEO, and NBM Korea Co.
(“NBMK”) will collaborate to incorporate and
optimize Linde’s industrial gases, specifically nitrogen and argon,
as critical inert gases in NEO’s silicon anode manufacturing
process. These gases have a significant role in ensuring the
quality of NEO’s production environment, minimizing input oxidation
risks and enabling quality control of the anode’s performance.
Linde and NEO’s strategic collaboration is
structured to support the technical transition from the current
pilot-scale to commercial-scale production. NEO and NBMK will work
closely with Linde to define technical requirements and implement
leading engineering solutions tailored to optimize NEO’s silicon
anode manufacturing process. The commitment to adopting Linde’s
advanced industrial gas technology will enhance the energy
efficiency and performance of NEO’s silicon anode products.
Mr. B. S. Sung, President of Linde Korea, said,
“We look forward to working with NEO, combining our extensive
expertise and capabilities to drive innovation and create value for
our partners while also paving the way for future growth and
success.”
Mr. Spencer Huh, Director, President & CEO
of NEO, commented, “This MOU with Linde marks a key step in NEO’s
ongoing route-to-commercialization strategy. Both parties are
committed to maintaining a productive relationship toward the mass
production of our silicon anodes. By working with a global leader
like Linde, we anticipate receiving advanced engineering expertise
to realize efficient production and high levels of quality control
and assurance.”
About NEO Battery Materials
Ltd.NEO
Battery Materials is a Canadian battery
materials technology company focused on developing silicon anode
materials for lithium-ion batteries in electric vehicles,
electronics, and energy storage systems. With a patent-protected,
low-cost manufacturing process, NEO Battery enables longer-running
and ultra-fast charging batteries compared to existing
state-of-the-art technologies. The Company aims to be a
globally-leading producer of silicon anode materials for the
electric vehicle and energy storage industries. For more
information, please visit the Company’s website at:
https://www.neobatterymaterials.com/.
On Behalf of the Board of DirectorsSpencer
HuhDirector, President, and CEO
For Investor Relations, PR & More
Information:info@neobatterymaterials.com
This news release includes certain
forward-looking statements as well as management's objectives,
strategies, beliefs and intentions.All information contained herein
that is not clearly historical in nature may constitute
forward-looking information. Generally, such forward-looking
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or state that certain actions, events or results "may", "could",
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risks, uncertainties and other factors that may cause the actual
results, level of activity, performance or achievements of the
Company to be materially different from those expressed or implied
by such forward-looking information, including but not limited to:
(i) volatile stock prices; (ii) the general global markets and
economic conditions; (iii) the possibility of write-downs and
impairments; (iv) the risk associated with the research and
development of advanced technologies; (v) the risk associated with
the effectiveness and feasibility of technologies that have not yet
been tested or proven on commercial scale; (vi) the risks
associated with entering into joint ventures, collaboration
agreements, joint development agreements, and similar commercial
agreements; (vii) fluctuations in input precursor prices; (viii)
the risks associated with uninsurable risks arising during the
course of research, development and production; (ix) competition
faced by the resulting issuer in securing experienced personnel and
financing; (x) access to adequate infrastructure to support battery
materials research and development activities; (xi) the risks
associated with changes in the technology regulatory regime
governing the Company; (xii) the risks associated with the various
environmental regulations the Company is subject to; (xiii) risks
related to regulatory and permitting delays; (xiv) the reliance on
key personnel; (xv) liquidity risks; (xvi) the risk of litigation;
and (xvii) risk management, as described in more detail in our
recent securities filings available at www.sedarplus.com.
Forward-looking information is based on assumptions management
believes to be reasonable at the time such statements are made,
including but not limited to, continued research and development
activities, no material adverse change in precursor prices and
development plans to proceed in accordance with plans and such
plans to achieve their stated expected outcomes, receipt of
required regulatory approvals, and such other assumptions and
factors as set out herein. Although the Company has attempted to
identify important factors that could cause actual results to
differ materially from those contained in the forward-looking
information, there may be other factors that cause results not to
be as anticipated, estimated or intended. There can be no assurance
that such forward-looking information will prove to be accurate, as
actual results and future events could differ materially from those
anticipated in such forward-looking information. Such
forward-looking information has been provided for the purpose of
assisting investors in understanding the Company's business,
operations, research and development, and commercialization plans
and may not be appropriate for other purposes. Accordingly, readers
should not place undue reliance on forward-looking information. We
assume no obligation to revise or update these forward-looking
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A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/dd4137f3-c77a-4892-8c5f-54ea6d62dc4c
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