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NEO Battery Materials Forges Collaboration Agreement with Major South Korean Chemical Material Company, INNOX eco-M
Collaboration Agreement with INNOX eco-M – Leading South Korean Chemical Material Company of Recycled Silicon Powders Subsidiary of INNOX Holding Corp. – A Prod
About this update from Neo Battery Materials Ltd
[{"type":"text","content":" Collaboration Agreement with INNOX eco-M – Leading South Korean Chemical Material Company of Recycled Silicon Powders Subsidiary of INNOX Holding Corp. – A Producer of Secondary Battery Materials and IT High-Tech Materials with Investment Business Operations Jointly Developing Silicon Anode Products with INNOX eco-M’s High-Purity Recycled Silicon Development Priorities: Enhance Electrochemical Performance, Lower Anode Manufacturing Costs & Environmental Footprint, and Promote Supply Chain Resiliency TORONTO, June 11, 2024 (GLOBE NEWSWIRE) -- NEO Battery Materials Ltd. (TSXV: NBM) (OTC: NBMFF) (“NEO” or the “Company”), a low-cost silicon anode materials developer that enables longer-running, rapid-charging lithium-ion batteries, is pleased to announce a collaboration agreement with INNOX eco-M, a company renowned for its innovative silicon recycling process and a subsidiary of a leading Korean chemical materials company, INNOX Holding Corp. Under this collaboration, NEO Battery Materials will jointly develop silicon anode products by integrating INNOX eco-M’s high-purity recycled silicon and silicon-oxide powders as the raw material. Main collaboration priorities will include: Enhancing electrochemical performance, including increased capacity and efficiencies; Reducing overall manufacturing costs with low-cost precursors; and Commercializing a sustainable, ESG-friendly anode product. The collaboration is also expected to contribute towards a more circular economy with improved supply chain resiliency. With most silicon sources manufactured in China, INNOX eco-M will help NEO Battery Materials diversify its supply chain dependency and secure a long-term, low-cost supply of silicon inputs. INNOX eco-M supplies various manufacturing companies in the battery and chemical materials industry. It operates three facilities in South Korea and China and plans to expand its silicon-oxide powder manufacturing capabilities in Vietnam. INNOX eco-M mainly recycles waste slurry created from semiconductor and solar wafer cutting and flattening processes. Mr. Spencer Huh, President and CEO of NEO, commented, “We are excited to join forces with INNOX eco-M in this strategic collaboration. This partnership marks a significant business development milestone and is well-aligned with the high-level pillared strategy of establishing commercial col...