Business
Global Environmental Concerns Drive New Era for EV's and Batteries
Point Roberts, Washington and Delta, British Columbia--(Newsfile Corp. - November 8, 2021) - ...
About this update from Neo Battery Materials Ltd
[{"type":"text","content":"Global Environmental Concerns Drive New Era for EV's and BatteriesPoint Roberts, Washington and Delta, British Columbia--(Newsfile Corp. - November 8, 2021) - Investorideas.com, a leading investor news resource covering EV and battery stocks releases a special report on the growing EV market as both vehicle and battery manufacturers jockey for position, racing to both improve performance and production capacity, all in the name of \"environmentalism,\" featuring Vancouver-based NEO Battery Materials Ltd. (TSXV: NBM) (OTCQB: NBMFF). NEO intends to become a silicon anode active materials supplier to the electric vehicle industry.Read the full article on Investorideas.com https://www.investorideas.com/News/2021/renewable-energy/11081EV-Batteries.aspThe global electric vehicle market size is expected to reach USD 917.70 Billion in 2028 and register a revenue CAGR of 20.6% over the forecast period, according to a recent report by Reports and Data. Supportive government policies and regulations, rising environmental concerns, decreasing prices of batteries, and advancements in charging technologies are some key factors expected to drive market revenue growth.For battery materials, the silicon anode market is facing an accelerated uprising due to the material's potential to store up to ten times more lithium-ions compared to current graphite anodes used in EV batteries. In a report by The Korea Economic Daily, the industry is expected to experience a growth of a 70% CAGR until 2025 to a market size of USD 2.6 Billion to 3.4 Billion, capturing 15% of the total anode market compared to the current 3%.NEO Battery Materials Ltd. (TSXV: NBM) (OTCQB: NBMFF) recently announced that over the past three months the Company has successfully completed the Silicon (Si) Anode Production Capacity Upscaling Project.From the initial production rate of several grams per hour for manufacturing silicon anode materials at the lab-scale, NEO's engineering team has accomplished to expand the rate to a level of several kilograms per hour. This is a result of improving productivity by more than 1,000-fold, and the success of the Project at this level has given stronger validation for the 120-ton semi-commercial plant that is scheduled to be commissioned by the end of next year. In addition to increasing the throughput rate (production speed) from this Project,...