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NEO Battery Materials Signs MOU with Producer of High-Purity Silicon by Solar & Semiconductor Silicon By-Product Waste Recycling
VANCOUVER, British Columbia, Dec. 29, 2022 (GLOBE NEWSWIRE) -- (TSXV: NBM) (OTCQB: NBMFF) MOU with an Asia-Based Recycler of Silicon By-Product Waste from Solar
About this update from Neo Battery Materials Ltd
[{"type":"text","content":" VANCOUVER, British Columbia, Dec. 29, 2022 (GLOBE NEWSWIRE) -- (TSXV: NBM) (OTCQB: NBMFF) MOU with an Asia-Based Recycler of Silicon By-Product Waste from Solar and Semiconductor Manufacturing into High-Purity Silicon Powder Due to Strategic Reasons and Sensitive Nature of Information, Recycler Will Remain Confidential until Disclosed Potential to Reduce Silicon Input Price by Up to 40% and Secure Long-Term, Stable-Priced Input Supply through Recycled Silicon Waste To Conduct Silicon Anode Sample Testing with Recycled High-Purity Silicon Discussed Potential Collaborative Opportunities to Enter North American Market NEO Battery Materials Ltd. (“NEO” or the “Company”), a low-cost developer of silicon anode materials that enable longer-running, rapid-charging lithium-ion batteries, is pleased to announce that the Company has signed a Memorandum of Understanding (“MOU”) with an Asia-based producer of high-purity silicon powder through recycling silicon by-product waste from solar photovoltaic cell and semiconductor manufacturing (“Recycler”). Due to strategic reasons and the sensitive nature of the information, negotiation, and technology, the Recycler will remain confidential until officially disclosed. Under the terms of the MOU, the purpose is to significantly enhance the price competitiveness of silicon anode materials for electric vehicle lithium-ion batteries by integrating the Recycler’s cost-reduced, recycled silicon input into NEO’s proprietary silicon anode materials, NBMSiDE™. Compared to the current metal silicon input for NBMSiDE™, the Recycler’s silicon waste recycling technology may enable NEO Battery Materials to realize a substantial price reduction in the silicon input by 30% and up to 40% In early January, the Company expects to receive recycled high-purity silicon and conduct sample testing to assess for performance, viability, and collaboration/research direction Further silicon input price reductions will drastically enhance NBMSiDE™ price competitiveness compared to existing high-priced competitors, and the Company may also uniquely secure a long-term supply and stable price of silicon input through recycled silicon by-product waste from solar energy & semiconductor industries. NEO has also discussed with the Recycler regarding collaborative opportunities to enter the North American market. With gigafacto...