NEO Battery Materials receives first purchase order for silicon anode materials

NEO Battery Materials Ltd., a low-cost silicon anode materials developer that enables longer-running, rapid-charging lithium-ion batteries, has received the first purchase order (“P.O.”) for 0.4 metric tonnes (400 kilograms) of NEO’s proprietary silicon anode materials, NBMSiDE®, by an Asian chemical material company (the “Customer”) under NDA.

Through NEO’s South Korean subsidiary, NBM Korea Co., an initial volume P.O. was placed for the Customer’s purpose of combining NBMSiDE® products with the Customer’s battery materials to develop composite anodes for commercial-level lithium-ion battery use. Due to the large volume order that exceeds the gratuitous sample limit, the transaction was recognized as a purchase order, and NEO plans to supply over a one (1) year timeline, delivering gradually optimized samples.

Mr. Spencer Huh, President & CEO of NEO, commented, “We are excited to extend our relationship with the chemical material company to take another step towards collaborative commercialization. The unnamed Customer will test NBMSiDE® within their materials and system to present their products to multiple global battery cell manufacturers & EV automakers they have been cooperating on a long-term basis. Positive performance developments are opening and driving new opportunities for advanced agreements continuously, and we expect to secure additional bulk sample P.O.s for large volume testing.”

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