Business
The Global Quest for Better Batteries - Who Has the Holy Grail?
Vancouver, Kelowna and Delta, British Columbia--(Newsfile Corp. - September 7, 2023) - Investori...
About this update from Neo Battery Materials Ltd
[{"type":"text","content":"The Global Quest for Better Batteries - Who Has the Holy Grail?Vancouver, Kelowna and Delta, British Columbia--(Newsfile Corp. - September 7, 2023) - Investorideas.com, a leading investor news resource covering EV and battery stocks releases a special news report on the global drive for battery innovation, featuring Toronto-based NEO Battery Materials Ltd. (TSXV: NBM) (OTCQB: NBMFF), a low-cost silicon anode materials developer that enables longer-running, rapid-charging lithium-ion batteries.Read the full article on Investorideas.comhttps://www.investorideas.com/News/2023/renewable-energy/09070Better-Batteries.aspAccording to Reportlinker.com \"The worldwide demand for batteries is on the rise, primarily propelled by the urgency to combat climate change through mobility electrification and energy transition.\"\"In addition, significant growth in consumer electronics, such as wearables and Bluetooth earphones, will further propel the Lithium-ion (Li-ion) battery materials market.\"\"Lithium-ion batteries dominate the energy storage landscape for mobile electronic devices and electromobility.\"\"However, the market strives for improvement in several aspects: Cost-effectiveness, safety, longevity, energy density, and recyclability.\"Focusing on cost and efficiency, NEO Battery Materials Ltd. (TSXV: NBM) (OTCQB: NBMFF), announced it received the first purchase order (\"P.O.\") for 0.4 metric tonnes (400 kilograms) of NEO's proprietary silicon anode materials, NBMSiDE®, by an Asian chemical material company (the \"Customer\") under NDA.From the news: Through NEO's South Korean subsidiary, NBM Korea Co., an initial volume P.O. was placed for the Customer's purpose of combining NBMSiDE® products with the Customer's battery materials to develop composite anodes for commercial-level lithium-ion battery use. Due to the large volume order that exceeds the gratuitous sample limit, the transaction was recognized as a purchase order, and NEO plans to supply over a one (1) year timeline, delivering gradually optimized samples.Mr. Spencer Huh, President & CEO of NEO commented, \"We are excited to extend our relationship with the chemical material company to take another step towards collaborative commercialization. The unnamed Customer will test NBMSiDE® within their materials and system to present their products to multiple...