NEO Battery Materials Ltd. said it has secured material transfer agreements (MTA) with working parties to upscale evaluations of its silicon anode active materials applied towards high-power lithium-ion batteries and efficient electrode manufacturing processes.
The Vancouver-based company said the MTA constitutes the transfer of materials between the parties and provides stringent clauses for the protection of NEO’s proprietary technology.
“The material transfer agreements that NEO has secured signifies a runway into large-scale testing of our silicon anode materials that are applicable to various battery materials and cell systems, including high-power and performance batteries and distinct manufacturing processes for electrode fabrication,” Spencer Huh, president and CEO of NEO, said in a statement.
“The MTAs form a baseline agreement for both NEO and its counterparties to develop opportunities for joint development agreements and strategic partnerships,” Huh added.
In South Korea, NEO said its management and engineers are in the stage of scaling the production capacity of its proprietary silicon anode active materials through required capital purchases and process optimization.
These technical advancements are directed towards achieving the semi-commercial level output rate of 120 tons per year and the mass shipment of customized prototypes to the company’s working partners. Refining the characteristics of the material and manufacturing method has allowed the company to undergo increased iterations of product testing and modifications to generate these positive internal developments.
Meanwhile, in the past two weeks, the company said it has signed three non-disclosure agreements (NDAs) with an additional European battery cell manufacturer, material developer, and a research institution. All the works are associated with further evaluation and optimization of NEO’s silicon anode active materials and the accelerated commercialization timeline of implementing the company’s materials into electric vehicles and energy storage solution applications.
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Story by ProactiveInvestors
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