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NEO Battery Materials Signs Collaboration Agreement with High-Performance Carbon Nanotube Developer for Silicon Anode Optimization
VANCOUVER, British Columbia, Feb. 13, 2023 (GLOBE NEWSWIRE) -- (TSXV: NBM) (OTCQB: NBMFF) Signed Collaboration Agreement with NanoRial Technologies Ltd., a Deve
About this update from Neo Battery Materials Ltd
[{"type":"text","content":" VANCOUVER, British Columbia, Feb. 13, 2023 (GLOBE NEWSWIRE) -- (TSXV: NBM) (OTCQB: NBMFF) Signed Collaboration Agreement with NanoRial Technologies Ltd., a Developer of Well-Dispersed Carbon Nanotubes (CNT) for Lithium-Ion Battery Performance Improvement Purpose to Optimize Performance of NEO’s Silicon Anode Materials with CNT as Effective Nanocoating Materials Intend to Jointly Apply to Canadian Governmental, Non-Dilutive Funding Programs 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 that the Company has signed a non-exclusive collaboration agreement with NanoRial Technologies Ltd. (“NanoRial”). NanoRial is a technology developer of fully-dispersed carbon nanotubes (CNT) that is capable of improving the conductivity, capacity, and ultra-fast charge rate of batteries. NEO and NanoRial will collaborate to optimize the stability and performance of NEO’s silicon anode materials, NBMSiDE™, by integrating NanoRial’s high-performance CNT products as a robust nanocoating material. Both Parties recognize that implementing CNT technology can advance the commercial-level use of silicon anodes in EV batteries and will accordingly expand on mutual business opportunities in the lithium-ion battery supply chain. Once the Company redomiciles into Ontario, NEO Battery Materials intends to jointly apply to governmental, non-dilutive funding programs with NanoRial to increase business presence and exposure in the Canadian battery supply chain. With Canada placing 2nd in Bloomberg NEF’s global battery supply chain rankings, the Company aims to build lasting relationships with government officials to secure direct funding from the Ontario provincial government, supercluster projects from NGen Manufacturing Canada, and federal programs through the department of Innovation, Science and Economic Development (ISED). Mr. Spencer Huh, President and CEO of NEO, stated, “We are excited to be working with NanoRial to build on one of the many collaboration and joint development agreements we expect to achieve this year. With our R&D efforts to integrate CNTs into NBMSiDE™, we are actively expanding the product portfolio to fulfill the current specifications requested by global battery supply chain players and work...