NEO Battery Materials and NanoRial Advance Product Collaboration with CNT-Based Silicon Anode
21 August 2023 - 2:30PM
(
TSXV:
NBM) (
OTCQB: NBMFF)
- Collaboration
Advancement through Product Portfolio Expansion – Carbon Nanotube
(CNT) Nanocoatings for NEO’s Silicon Anode Materials
- To Offer Diverse
Performance & Cost Offering Alongside Polymer Nanocoatings to
Downstream Manufacturers
- Preliminary
Evaluation of Mechanically Durable CNT Coating to Improve Silicon
Battery Performance
- Project
2N-CSi – Partnership for Joint Development and
Non-Dilutive Funding Application in Canada’s EV Battery Supply
Chain
- Dr. Chitral
Angammana, CEO of NanoRial, Appointed to Scientific Advisory
Board
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 collaboration advancement with NanoRial Technologies
Ltd. (“NanoRial”) through expanding the silicon
anode, NBMSiDE®, product portfolio using carbon nanotube
(“CNT”) nanocoatings. The formal partnership named
Project 2N-CSi will be utilized to jointly apply
to non-dilutive financing and commercialization in Ontario,
Canada.
Following the collaboration agreement in early
2023, NEO Battery Materials and NanoRial have been developing
CNT-nanocoated silicon anodes for EV lithium-ion batteries. Using
NEO’s uniform nanocoating capability, preliminary evaluations of
NanoRial’s CNTs are underway to improve cycle life and energy
capacity. To offer a diverse performance and cost offering to
downstream manufacturers, NEO will commercialize NBMSiDE®-CNT in
addition to the Company’s polymer-nanocoated products.
Project 2N-CSi is the first EV battery materials
collaborative product being developed by two Canadian and
Ontario-based companies. NEO Battery and NanoRial will continue to
further advance the product, in progressing towards engaging global
battery manufacturers & EV automakers for commercial-level
testing. Both parties are jointly securing non-dilutive financing
through discussion with Canada’s governmental authorities.
To develop the partnership, Dr. Chitral
Angammana, CEO of NanoRial, has been appointed to NEO’s Scientific
Advisory Board. Co-founding NanoRial in 2019, Dr. Angammana has
successfully led the company to scale up its CNT dispersion
technology for energy storage, coatings, and additive applications.
He has commercialized technologies through partnerships with
large-scale corporations to startups. Receiving his Ph.D. in
Electrical Engineering and Nanotechnology from the University of
Waterloo, Dr. Angammana holds several patents approved and pending
for the processing and fabrication of nanoparticles, nanotubes,
nanofibers, and nanocomposite materials.
Dr. Chitral Angammana, CEO of NanoRial,
commented, “I am excited to be aboard for NEO Battery’s silicon
anode commercialization. NanoRial is currently evaluating our CNTs
with global-tier automotive and chemical manufacturers, and the
collaboration with NEO will create value and synergies for the
global EV battery supply chain. As we are in the process of
constructing a 15 tons per year facility with expansion for a
multi-thousand tons production capacity, we anticipate
complementing NEO’s production on a long-term basis.”
Dr. Dongmok Whang, Lead Scientific Advisor of
NEO, remarked, “Having researched CNTs for over 10 years, this is
another critical nanomaterial that must be adopted by battery cell
manufacturers. With properties of superior electrical conductivity,
tensile strength, and elasticity, CNTs are being actively pursued
as both a conductive additive and nanocoating material for
electrodes. The CNT market is expected to grow from US$ 1.8 billion
in 2025 to US$ 9.2 billion in 2030 with 120,000 tons and 600,000
tons produced, respectively.”
About NanoRial Technologies
Ltd.NanoRial is an Ontario-based high-tech advanced
materials company enabling next-generation products and materials
from faster charging batteries to longer, lighter wind turbine
blades through our patented nano-particle exfoliation technology
and carbon nanotube (CNT) based additives. NanoRial intends to
become a leading CNT-based materials supplier to the energy storage
systems market. For more information, please visit NanoRial’s
website at: https://nanorial.com/.
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 CEOshuh@neobatterymaterials.com
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