NEO Battery Materials Accepted into R&D Scale-Up Centre Expansion Facility – Gyeonggi Technopark Located in Ansan Science Valley
July 19 2023 - 8:30AM
(
TSXV:
NBM) (
OTCQB: NBMFF)
- Accepted into
Expansion Facility for R&D Scale-Up Centre – Gyeonggi
Technopark Located in Ansan Science Valley
- Satisfied All
Pertinent Requirements to Acquire R&D Space within GTP
- ASV, an
Innovation Cluster that Situates GTP, Will Aid R&D Support,
Testing & Certification, Strategic Cooperation, Facilities
& Equipment, and Education & Training
- ASV Members
Include LG, Hanyang University, KTL, KITECH, and KERI
NEO Battery Materials Ltd.
(“NEO” or the
“Company”),
a low-cost silicon anode materials developer that enables
longer-running, rapid-charging lithium-ion batteries, is pleased to
announce the acceptance into the expansion facility for the South
Korean R&D Scale-Up Centre – Gyeonggi Technopark
(“GTP”) located in Ansan Science Valley
(“ASV”).
In preparation for commercial-scale production
in 2024, NEO applied to GTP to upsize the production scale and to
expand the material evaluation pipeline with global battery cell
manufacturers, electric vehicle automakers, and electronics
companies. After a broad review by GTP’s facility operation,
facility safety, and business development officials, the Company
satisfied several requirements ranging from technology,
commercialization potency, environmental and safety, and other
pertinent factors for facility entry acceptance.
Gyeonggi Technopark operates to aid small to
medium-sized enterprises with a high-tech focus on both the
economic and technological forefront. GTP has enabled the
commercialization of groundbreaking technologies as an active hub
for industry-academic collaboration, project incubation, and
cluster development. Located within Ansan Science Valley, GTP is an
ASV member organization that strategically collaborates with LG,
Korea Testing Laboratory, Korea Institute of Industrial Technology,
Korea Electrotechnology Research Institute, Hanyang University, and
other technology-oriented institutions and companies. ASV is an
innovation cluster that will provide NEO with the necessary R&D
support, testing and certification, strategic cooperation,
facilities and equipment, and education and training to advance
toward the next step for scale-up.
Dr. S. G. Kim, CTO of NEO, commented, “Due to
NEO Battery’s commercial potential and positive progress in R&D
with our downstream partners, we have received an express
acceptance from GTP officials to expand our production facility.
Additional R&D manufacturing space and senior research
engineers will expedite progress towards milestone achievements,
including advanced agreements, construction completion, joint
ventures, and firm commercial contracts.”
About NEO Battery Materials
Ltd.NEO
Battery Materials is a Canadian battery
materials technology company focused on developing silicon anode
materials for lithium-ion batteries in electric vehicles,
electronics, and energy storage systems. With a patent-protected,
low-cost manufacturing process, NEO Battery enables longer-running
and ultra-fasting charging batteries compared to existing
state-of-the-art technologies. Building the first commercial plant
in South Korea, the Company aims to be a globally-leading producer
of silicon anode materials for the electric vehicle and energy
storage industries. For more information, please visit the
Company’s website at: https://www.neobatterymaterials.com/.
On behalf of the Board of DirectorsSpencer
HuhPresident and CEOshuh@neobatterymaterials.com
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