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NEO Battery Materials Establishes Collaboration Agreement with Lotus Energy to Strengthen Recycled Silicon Anode Initiative
TORONTO, July 26, 2024 (GLOBE NEWSWIRE) -- (TSXV: NBM) (OTC: NBMFF) New Collaboration Agreement with Australia-Based Solar PV Recycler – Lotus Energy Recycling
About this update from Neo Battery Materials Ltd
[{"type":"text","content":" TORONTO, July 26, 2024 (GLOBE NEWSWIRE) -- (TSXV: NBM) (OTC: NBMFF) New Collaboration Agreement with Australia-Based Solar PV Recycler – Lotus Energy Recycling Lotus Energy: Proprietary Recycling Technology Know-How to Produce High-Purity 99.9% Recycled PV Silicon To Reach 3,600 kg Per Annum Scale in 2024 and Expansion to 120,000 kg Per Annum Subsequently Planned in Each of Melbourne, Sydney, and Germany by 2026 Will Explore Joint Venture Opportunities for North American Footprint in Silicon Recycling Will Apply to Governmental Funding for International Cooperation To Enhance Commercial Viability, Material Compatibility, and Supply Chain Resiliency by Extending Commercial Relationships with Silicon Recyclers 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 Collaboration Agreement (the “Agreement”) with Lotus Energy Recycling (“Lotus”) – an Australian-based solar photovoltaic (PV) recycler. The partnership will aid the Company’s sustainable route-to-commercialization and supply chain resiliency for input materials. NEO and Lotus intend to develop a silicon anode product to co-market directly to battery cell, electronics, and automotive manufacturers. Both companies will explore joint venture opportunities to establish a North American footprint in silicon recycling. Governmental funding for international cooperation will be applied for in advanced manufacturing and clean technology based on availability and criteria-match. This Agreement further bolsters NEO’s pillared strategy to build commercial-level relationships and diversify the silicon upstream value chain. NEO Battery aims to enhance the commercial viability and compatibility of recycled silicon as a reliable raw material source for its silicon anode materials. Lotus Energy possesses a proprietary recycling know-how to recover solar silicon cells from end-life solar PV cells. The scalable process implements a heat and chemical treatment without the use of hazardous solvents and materials, removing the risk of environmental concern and reducing unnecessary manufacturing costs and overhead. Lotus has consistently achieved high-purity levels of 99.9%+ for its recycled PV nano silicon particles. Headquartered in Melbourne, Australia, ...