- Oops!Something went wrong.Please try again later.
VANCOUVER, British Columbia, Aug. 05, 2022 (GLOBE NEWSWIRE) -- (TSXV: NBM) (OTCQB: NBMFF)
Initiated Detailed Design of the Silicon Anode Commercial Plant and Completed Basic Manufacturing Design in July 2022
Under Process of Selecting Verified Equipment Manufacturers for Long-Lead Item Procurement & Detailed Design
Cooperating with Gyeonggi Provincial Government to Receive Construction-Related Permits to Commence Groundwork
Filed Key Silicon Anode Material Technology PCT Patent for International Protection through World Intellectual Property Organization
Patent Regarding Nanocoating Layers to Enhance Structural Durability and Electrical Conductivity of Silicon Anode
NEO Battery Materials Ltd. (“NEO” or the “Company”) is pleased to announce that the Company has initiated the detailed design of the commercial manufacturing process, and equipment with long lead times are being concurrently procured through the selection of verified manufacturers. NEO has also filed a Patent Cooperation Treaty (“PCT”) patent regarding a key silicon anode material technology to build a robust international patent portfolio.
Commercial Plant: Detailed Design Initiation, Equipment Procurement & Construction-Related Permits
NEO Battery Materials has completed the basic manufacturing design in July 2022 and has subsequently initiated the detailed design of the Silicon Anode Commercial Plant. The detailed design expands on and determines the details in each area of the process, devices, piping, electrical systems, and controls based on the completed basic design. The specifications of the unit facilities will be determined according to the production capacity and characteristics of NBMSiDE™, NEO’s silicon anode materials.
Concurrently, for the procurement of long lead items, the Company is in the process of selecting equipment manufacturers whose technology has been verified, and the Request for Quote (RFQ) has been forwarded to the potential manufacturers. The detailed design is expected to be completed in October 2022.
Through the cooperation with the Provincial Government of Gyeonggi, NEO Battery Materials is actively in the process of receiving construction-related permits regarding the Commercial Plant, and after selecting a construction contractor, the initial construction work will commence on the Oseong International Investment Zone in Pyeongtaek City, Gyeonggi-do.
PCT Patent Application
Following the patent application filed to the Korean Intellectual Property Office (“KIPO”) in October 2021, the Company has additionally filed this key silicon anode technology patent to the World Intellectual Property Organization (“WIPO”) to bolster NEO’s international patent portfolio.
The patent entitled Composite nanoparticle comprising non-carbon nanoparticle and carbonaceous layer thereon, and process of preparing the same is the first patent filed in the Company’s name. This core patent is with regards to the nanocoating layers on the silicon particles to prevent the volumetric expansion problem and enhance the electrical conductivity of the silicon anode during the charging and discharging mechanism (lithiation/delithiation). NEO possesses 3 issued patents and 2 which are pending issuance, and the Company will continue to file material and manufacturing patents accordingly.
About NEO Battery Materials Ltd.
NEO Battery Materials Ltd. is a Vancouver-based company focused on electric vehicle lithium-ion battery materials. NEO has a focus on producing silicon anode materials through its proprietary single-step nanocoating process, which provides improvements in capacity and efficiency over lithium-ion batteries using graphite in their anode materials. The Company intends to become a silicon anode active materials supplier to the electric vehicle industry. For more information, please visit the Company’s website at: https://www.neobatterymaterials.com/.
On behalf of the Board of Directors
President and CEO
This news release includes certain forward-looking statements as well as management's objectives, strategies, beliefs and intentions. Forward looking statements are frequently identified by such words as "may", "will", "plan", "expect", "anticipate", "estimate", "intend" and similar words referring to future events and results. Forward-looking statements are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, the effectiveness and feasibility of technologies which have not yet been tested or proven on a commercial scale, competitive risks and the availability of financing, as described in more detail in our recent securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward-looking statements and we caution against placing undue reliance thereon. We assume no obligation to revise or update these forward-looking statements except as required by applicable law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.