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NEO Battery Materials Announces Successful Completion of Semi-Commercial Plant Conceptual Design and Initiates Engineering EPC Stage for Construction
Vancouver, British Columbia--(Newsfile Corp. - October 26, 2021) - NEO Battery Materials Lt...
About this update from Neo Battery Materials Ltd
[{"type":"text","content":"NEO Battery Materials Announces Successful Completion of Semi-Commercial Plant Conceptual Design and Initiates Engineering EPC Stage for ConstructionVancouver, British Columbia--(Newsfile Corp. - October 26, 2021) - NEO Battery Materials Ltd. (TSXV: NBM) (OTCQB: NBMFF) (\"NEO\" or the \"Company\") is pleased to announce that the Company has successfully completed the conceptual design of its semi-commercial plant facility and is now entering the initial EPC (Engineering, Procurement, and Construction) stage for the construction of the facility in South Korea.Mr. Spencer Huh, President and CEO of NEO, commented, \"We are extremely pleased to announce that the conceptual design of the semi-commercial plant has been completed over the course of three months through a fast-track effort by NEO's team. NEO is now another step towards commercializing our silicon anode materials for EV lithium-ion batteries and is actively expediting our timelines and milestones.\"As per the news released on July 8, 2021, the Company's management and engineers initiated the conceptual design of the pilot plant in which the capacity was later upgraded to a semi-commercial scale due to positive internal results and the need for agile integration into the lithium-ion battery supply chain for electric vehicles (EV). The conceptual design report has validated that the annual production rate of 120 tons of silicon anode materials is viable through NEO's proprietary process.In addition to the completion of the Basic Engineering Design Data (BEDD), the Configuration and Equipment of major production processes for NEO's one-pot nanocoating technology have been confirmed and finalized. This report has allowed the Company to determine the required Raw Materials and Utility to accommodate for the annual production of 120 tons, and guidelines for health, safety, and environment (HSE) for the facility have been presented within the report.Dr. J. H. Park, Director and Chief Scientific Advisor of NEO, said, \"The semi-commercial plant is of great significance as NEO's management and engineers have successfully designed the plant to enable both low-cost production of the silicon anode materials and flexibility of specification to satisfy the needs of various customers in the supply chain.\"NEO will now immediately commence the Engineering EPC (Engineering, Procurement, ...