Technical Update: NEO Battery Achieves Exceptional Silicon Battery Performance with Improved Uniform Nanocoating Innovation
August 16 2023 - 8:30AM
(
TSXV:
NBM) (
OTCQB: NBMFF)
- Successfully
Validated Performance Enhancement from Improved Uniform Nanocoating
Innovation
- New Chemical
Additives Introduced to Further Strengthen Uniform Coating Ability
& Reliability on Silicon Particles
- Extends Silicon
Battery Cycle Life by Effectively Controlling Volume Expansion
- Demonstrates
Over 70% Increase in Cycle Life Improvement
- No Material
Modification Required to Realize Uniform Nanocoating Capability
- Significant Cost
Reductions to Be Realized with Optimized Manufacturing Process
- 5 Battery
Professionals Secured for Next Phase Advancement
- NBMSiDE®
Trademark Registered with KIPO
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 exceptional testing results in silicon battery performance
from NEO’s improved uniform nanocoating innovation.
As announced on April 18, 2023, NEO achieved a
significant manufacturing innovation of uniformly nanocoating
silicon with strong polymer layers. This milestone helped extend
the battery cycle life or capacity retention by effectively
controlling the silicon’s volume expansion problem. Before this
innovation, non-uniform coatings led to mechanical breakdowns,
resulting in inadequate performance of silicon batteries.
Over the past months, the R&D engineering
team further optimized the uniform nanocoating capability with
chemical additives and rigorously performed battery
charge/discharge (cycling) tests. Several iterations have
successfully validated the performance enhancement from robust
uniform nanocoating, proving a substantial difference in cycle
life/capacity retention between non-uniformly and uniformly
nanocoated silicon anodes. The best-manufactured samples have
demonstrated over a 70% increase in cycle life improvement compared
to the previous best batch.
Dr. S. G. Kim, CTO of NEO, commented, “NEO’s
uniform nanocoating technology used to produce silicon anodes
significantly improves the battery performance by overcoming the
critical volume expansion problem. For the improved uniform
coating, no equipment or process modifications are required, but
this was solely achieved by chemical additives: this maintains our
ability to manufacture products at reduced costs of more than 70%
compared to competitors.”
Mr. Spencer Huh, President & CEO of NEO,
added, “We are excited about the success of our uniform coating
test results – a key milestone in the validation of our
high-performance silicon anode materials. I am proud of our highly
experienced R&D team in this achievement as it underpins our
capacity that both supports commercialization and solidifies our
work towards advanced agreements in the EV battery supply chain.
Most recently, we have secured top battery professionals that
include 2 PhDs and 3 Masters, and this addition of qualified
researchers will give us the next leg-up to achieve our
milestones.”
Trademark Registered with Korean
Intellectual Property OfficeThe Company is pleased to
announce that the Korean Intellectual Property Office
(“KIPO”) has duly registered the trademark
application for NEO’s silicon anode material, NBMSiDE®. After
waiting for 18 months for approval, in accordance with the
Trademark Act, a trademark has been registered at the KIPO under
the classes of active negative polar substances for secondary cell
batteries.
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 to 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
CEO604-355-6463shuh@neobatterymaterials.com
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.
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