VANCOUVER, British Columbia, March 08, 2022 (GLOBE NEWSWIRE) -- NEO Battery Materials Ltd. (TSXV: NBM) (OTCQB: NBMFF) ("NEO" or the "Company") is pleased to announce that the Company has completed a contract for the Commercial Plant's construction, design, and permits with an architectural firm and has furthermore secured an engineering design contract for the respective plant.
Mr. Spencer Huh, President and CEO of NEO, commented, "The ongoing activities related to the construction of our Commercial Plant are being undertaken in both an efficient and timely fashion. By teaming up with richly experienced architects and engineers, we have greater confidence and strengthened visibility to expedite our commercialization process."
"For the meantime, with strategic advisors in South Korea, we are currently working on pursuing strategic investments and communicating with the respective companies and investors to finance the construction of commercial plant mainly through our wholly-owned subsidiary, NBM Korea Ltd. We deem that this pathway will protect and add to NEO's shareholders' value in both the short- and long-run," added Mr. Huh.
About NBMSiDE
NBMSiDE is NEO Battery Materials Ltd.'s flagship silicon anode material for electric vehicle lithium-ion batteries. NBMSiDE comes in three variations, P100, P200, and C100, and is manufactured through the Company's proprietary nanocoating technology. All product lines are based on metallurgical-grade silicon microparticles and retain a high specific capacity of >2,500 mAh/g. Through the Company's South Korean intellectual property (IP) law firm, NBMSiDE is pending trademark approval.
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
Spencer Huh
President and CEO
604-697-2408
[email protected]
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.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/e9db0efd-4cd6-42b7-a3c9-190eff95b906
These press releases may also interest you
|