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NEO Battery Materials Provides Corporate Updates on NBM America and Silicon Anode Product Evaluation & Pipelines
VANCOUVER, British Columbia, Feb. 21, 2023 (GLOBE NEWSWIRE) -- (TSXV: NBM) (OTCQB: NBMFF) Engaged and Discussed with Ohio’s Business and Economic Development Or
About this update from Neo Battery Materials Ltd
[{"type":"text","content":" VANCOUVER, British Columbia, Feb. 21, 2023 (GLOBE NEWSWIRE) -- (TSXV: NBM) (OTCQB: NBMFF) Engaged and Discussed with Ohio’s Business and Economic Development Organizations for U.S. EV Battery Industry Expansion Will Cooperate for Site Selection, State-Level Funding, and Resource Access To Establish Ohio R&D Center to Expedite Timeline for Joint Venture Opportunities Rigorous Testing Efforts with NDA Partners & Additional Attraction to High-Performance Silicon Anodes Increasing Research Efforts for Developing CNT-Based Silicon Anode Material for Product Pipeline Enhancement 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 provide corporate updates on (i) expansion developments of NBM America Ltd., and (ii) silicon anode product evaluation and pipeline strategies. NBM America Ltd. Expansion Developments As announced on January 25, 2023, NEO Battery Materials is planning to establish NBM America Ltd. as a private subsidiary company in Ohio, U.S. The expansion objective is to initiate business development in the growing North American EV battery supply chain and support collaborative interactions and opportunities with U.S.-based NDA partners. In the past two weeks, management has engaged and discussed with JobsOhio through South Korean representatives and REDI Cincinnati, Ohio’s business and economic development organizations. To operate in the optimal location in the U.S. battery industry, NBM America will work with organization officials for site search and selection, state-level non-dilutive grants, talent acquisition, and regional public relation development. To expedite the timeline for joint venture opportunities, NEO plans to establish an R&D Center to manufacture silicon anode samples for North American battery manufacturers. This strategic facility will increase logistical efficiency by reducing the backlog time between material evaluation and optimization. The Company also initiated discussions with U.S. venture capital firms to secure series funding for NBM America, and NEO aims to develop complementary value-enhancing projects. NBMSiDE™ Silicon Anode Product Evaluation & Pipeline Recently signing 5 additional NDAs in the EV battery industry including a U.S.-based investment b...