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NEO Battery Materials Awarded as Consortium Partner in $20M Recycled Silicon Battery Project by South Korean Government
Awarded as Consortium Partner in CAD$20M Recycled Silicon Battery Project Organized by the South Korean Ministry of Trade, Industry, and Energy Major South Kore
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[{"type":"text","content":" Awarded as Consortium Partner in CAD$20M Recycled Silicon Battery Project Organized by the South Korean Ministry of Trade, Industry, and Energy Major South Korean Battery Value Chain Companies and Universities as Consortium Partners Hansol Chemical as Head Project Organization along with South Korea’s Largest Cathode Materials Producer, INNOX eco-M, LiBEST, etc. Project Focus: Developing High-Performance, Low-Cost Silicon Anode Materials Based on Silicon Waste from Semiconductor and Photovoltaic Wafer Manufacturing NEO Battery Materials Acting as Downstream Participant to Jointly Develop High-Performance Silicon Anode Materials with Consortium Partners TORONTO, Nov. 20, 2024 (GLOBE NEWSWIRE) -- NEO Battery Materials Ltd. (“NEO” or the “Company”) (TSXV: NBM) (OTC: NBMFF), a low-cost silicon anode materials developer that enables longer-running, rapid-charging lithium-ion batteries, is pleased to announce that the Company has been awarded as a consortium partner along with major battery value chain companies and universities in a CAD$20M recycled silicon battery project organized by the South Korean Ministry of Trade, Industry, and Energy. In a project titled “Recycled Silicon-Based High Energy Density Electrode Manufacturing Technology Development,” the South Korean Ministry of Trade, Industry, and Energy (MOTIE) and the Korea Evaluation Institute of Industrial Technology (KEIT) will invest approximately CAD$20M in government contributions for the next 5 years in consortium partners. With Hansol Chemical, a leading South Korean chemical materials company, as the head project organization, several major battery and chemicals companies are participating as consortium partners, including South Korea’s largest cathode materials producer, INNOX eco-M (NEO’s recycled silicon collaborator), and LiBEST. The project will focus on developing high-performance silicon anode materials based on recycled silicon scrap from semiconductor and photovoltaic wafer manufacturing. Consortium partners recognize that solving the limitations of waste materials is critical to achieving price and technological competitiveness for silicon anodes and strengthening sustainability in the lithium-ion battery industry. NEO Battery Materials will act as a downstream value chain participant. Using recycled silicon inputs optimized with low-cost technologies, NEO ...