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The EV Wave Continues: Positive Financials, Government Grants and Battery Solutions Drive Institutional Investing
Vancouver, Kelowna, Delta, British Columbia--(Newsfile Corp. - February 9, 2022) - Investorid...
About this update from Neo Battery Materials Ltd
[{"type":"text","content":"The EV Wave Continues: Positive Financials, Government Grants and Battery Solutions Drive Institutional InvestingVancouver, Kelowna, Delta, British Columbia--(Newsfile Corp. - February 9, 2022) - Investorideas.com, a leading investor news resource covering EV and battery technology stocks releases a special report featuring NEO Battery Materials Ltd. (TSXV: NBM) (OTCQB: NBMFF), a Vancouver-based company focused on battery materials. As we move forward in 2022, the market is seeing a string of positive financials from EV manufacturers and battery producers which, combined with Government grants and new innovations, is bolstering institutional investor sentiment. This is further solidifying the EV sector as a growth category that is here to stay.Read the full article on Investorideas.comhttps://www.investorideas.com/News/2022/renewable-energy/02090EV.aspNEO Battery Materials Ltd. (TSXV: NBM) (OTCQB: NBMFF) recently shared a January corporate update regarding the Company's commercialization development of its proprietary silicon anode materials for electric vehicle lithium-ion battery applications.As per the news release dated January 24, 2022, NEO Battery Materials Korea Co., Ltd,, a wholly-owned subsidiary of NEO, had received final approval by Gyeonggi-do's Provincial Government and the Foreign Investment Review Board for the usage of 106,700 square feet or approximately 2.5 acreages of land to construct NEO's Silicon Anode Commercial Plant. The facility will be located within an industrial complex designated as a Foreign Investment Zone by the Province.The Company has undergone a strict due diligence process with the Province to qualify as a foreign investment company and may access various tax incentives and provincial financial support for equipment purchases, employment subsidies, and favorable lease rates for the facility. NBM Korea has received a long-term agreement for the site usage from the Province for the first 10 years with an option to extend up to 50 years. NEO has furthermore submitted an intention to append another lot of 106,700 square feet for further expansion, but the Company will not have to undergo an additional review process to secure the additional land.On August 31, 2021, the Company announced the strategic decision to upscale the originally planned pilot plant to a semi-commercial scale facility, effec...