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NEO Battery Materials Signs MOU with South Korean Silicon Powder Manufacturer Korea Metal Silicon Co.
Vancouver, British Columbia--(Newsfile Corp. - June 11, 2021) - NEO Battery Materials Ltd. (...
About this update from Neo Battery Materials Ltd
[{"type":"text","content":"NEO Battery Materials Signs MOU with South Korean Silicon Powder Manufacturer Korea Metal Silicon Co.Vancouver, British Columbia--(Newsfile Corp. - June 11, 2021) - NEO Battery Materials Ltd. (TSXV: NBM) (OTC: NBMFF) (\"NEO\" or the \"Company\") is pleased to announce it has entered into a Memorandum of Understanding (\"MOU\") with South Korean silicon powder manufacturer, Korea Metal Silicon Co., Ltd (\"KMS\"), to pursue strategic opportunities for the advancement of low-cost, scalable silicon anodes through leveraging the developments in silicon technologies from both parties. Under the terms of the MOU, NEO will closely engage with KMS to collaborate with the intent of pursuing solutions to remove the cost bottleneck associated with nanosilicon powders and to develop manufacturing capabilities to mass produce low-cost nanosilicon powders at a scalable and commercially viable level for NEO's proprietary silicon anodes. The agreement would help accelerate NEO's commercialization plans of its silicon anode technology. Korea Metal Silicon Co. has developed their unique, lean manufacturing process for over 15 years to provide cost-effective silicon powders that ranges from nanosilicon for lithium-ion batteries to polysilicon for semiconductors and solar-powered equipment. KMS has been building a record of securing commercial supply contracts for its silicon powders for over 20 companies located in South Korea and Japan. Additionally, KMS is engaged in multiple joint development agreements with established South Korean and Japanese companies to develop its silicon manufacturing process.\"We are very pleased to have entered into this MOU with NEO,\" said Jong Oh Choi, CEO of Korea Metal Silicon. \"It is a demonstration of the versatility of our nanosilicon powder and our proprietary manufacturing process which is both scalable and commercially viable. This relationship opens the door to bring cost-effective silicon anodes to the electric vehicle market.\" \"KMS's refined and scalable technology will expedite the development of our silicon anode technology, which will allow us to reach the next stage of innovations and enable commercialization in a shorter timeframe,\" said Spencer Huh, CEO of NEO. \"Leveraging the unique technologies of both parties will lead to synergies that will improve battery performance and sustainability and ...