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NEO Battery Materials Signs a Collaboration Agreement with Applied Carbon Nano Technology Ltd. in South Korea
VANCOUVER, British Columbia, June 15, 2022 (GLOBE NEWSWIRE) -- (TSXV: NBM) (OTCQB: NBMFF) Collaboration Agreement to Advance NEO’s Patent Pending Carbon Nanotub
About this update from Neo Battery Materials Ltd
[{"type":"text","content":" VANCOUVER, British Columbia, June 15, 2022 (GLOBE NEWSWIRE) -- (TSXV: NBM) (OTCQB: NBMFF) Collaboration Agreement to Advance NEO’s Patent Pending Carbon Nanotube (CNT) Coating Technology for Silicon Anode Materials with Applied Carbon Nano Technology Ltd. High Mechanical Endurance of CNT Can Help with Silicon’s Volume Expansion Problem CNT Market Expected to Reach $10.7B by 2028, Growing at 10.8% CAGR Applied Carbon Nano Technology Inc. Focuses on Developing and Commercializing CNT Products with Expertise in EV Lithium-Ion Batteries, Battery Recycling, and Graphene Technologies NEO Battery Materials Ltd. (“NEO” or the “Company”) is pleased to announce that the Company has signed a Collaboration Agreement (“CA”) with Applied Carbon Nano Technology Ltd. (“ACN”) on June 14th. The collaboration agreement establishes strategic cooperation to further advance NEO’s pending patent related to carbon nanotube (“CNT”) coating technology for silicon anode materials. NEO and ACN will collaborate to expand mutual business opportunities in the electric vehicle (EV) industry including the CNT conductive additive market that is experiencing accelerated growth. In conjunction with the past news release on July 22, 2021, NEO is in the right position to cooperatively expand and advance the development of NEO’s silicon anode material project with ACN. CNTs are known to retain similar electrical conductivity to copper and have more than 100 times the strength of steel. Due to this capability to endure mechanical stress, CNT can act as an effective damper for the volumetric expansion problem of silicon anodes during cycling. Additionally, the superior electrical conductivity of the material allows the performance of the anode to be maximized. According to the Insight Partners, the CNT market size is expected to reach $10.7B by 2028, growing at a compound annual growth rate of 10.8%. Applied Carbon Nano Technology Inc. is a private R&D-oriented company in South Korea focused on developing and commercializing Carbon Nanotubes (CNT) and their applied technologies. ACN has over 16 years of corporate history with core R&D experts on CNT and CNT-applied composite product technologies. The core management of the company includes 2 founding members, CEO Dr. Lee and CTO Dr. Moon, whose combined industry experience amount to over 60 years in the CNT in...