Business
NEO Battery Materials Accepted into R&D Scale-Up Centre Expansion Facility – Gyeonggi Technopark Located in Ansan Science Valley
TORONTO, July 19, 2023 (GLOBE NEWSWIRE) -- (TSXV: NBM) (OTCQB: NBMFF) Accepted into Expansion Facility for R&D Scale-Up Centre – Gyeonggi Technopark Located in
About this update from Neo Battery Materials Ltd
[{"type":"text","content":" TORONTO, July 19, 2023 (GLOBE NEWSWIRE) -- (TSXV: NBM) (OTCQB: NBMFF) Accepted into Expansion Facility for R&D Scale-Up Centre – Gyeonggi Technopark Located in Ansan Science Valley Satisfied All Pertinent Requirements to Acquire R&D Space within GTP ASV, an Innovation Cluster that Situates GTP, Will Aid R&D Support, Testing & Certification, Strategic Cooperation, Facilities & Equipment, and Education & Training ASV Members Include LG, Hanyang University, KTL, KITECH, and KERI NEO Battery Materials Ltd. (“NEO” or the “Company”), a low-cost silicon anode materials developer that enables longer-running, rapid-charging lithium-ion batteries, is pleased to announce the acceptance into the expansion facility for the South Korean R&D Scale-Up Centre – Gyeonggi Technopark (“GTP”) located in Ansan Science Valley (“ASV”). In preparation for commercial-scale production in 2024, NEO applied to GTP to upsize the production scale and to expand the material evaluation pipeline with global battery cell manufacturers, electric vehicle automakers, and electronics companies. After a broad review by GTP’s facility operation, facility safety, and business development officials, the Company satisfied several requirements ranging from technology, commercialization potency, environmental and safety, and other pertinent factors for facility entry acceptance. Gyeonggi Technopark operates to aid small to medium-sized enterprises with a high-tech focus on both the economic and technological forefront. GTP has enabled the commercialization of groundbreaking technologies as an active hub for industry-academic collaboration, project incubation, and cluster development. Located within Ansan Science Valley, GTP is an ASV member organization that strategically collaborates with LG, Korea Testing Laboratory, Korea Institute of Industrial Technology, Korea Electrotechnology Research Institute, Hanyang University, and other technology-oriented institutions and companies. ASV is an innovation cluster that will provide NEO with the necessary R&D support, testing and certification, strategic cooperation, facilities and equipment, and education and training to advance toward the next step for scale-up. Dr. S. G. Kim, CTO of NEO, commented, “Due to NEO Battery’s commercial potential and positive progress in R&D with our downstream pa...