NEO Battery Materials inks MOU with Korea Metal Silicon for advancement of low-cost, scalable silicon anodes

NEO Battery Materials Ltd (CVE:NBM) (OTCMKTS:NBMFF) said it has entered into a memorandum of understanding (MOU) with Korea Metal Silicon Co. Ltd. (KMS) for the advancement of low-cost, scalable silicon anodes. Under the terms of the MOU with the South Korea manufacturer of silicon powder, the two companies will pursue solutions to remove the cost bottlenecks associated with nanosilicon powders at a scalable and commercially viable level for NEO’s proprietary silicon anodes. The deal is expected to accelerate NEO’s commercialization plans of its silicon anode technology. READ: NEO Battery Materials appoints James Suk and Dr Andrew Fraser as advisors as it bids to access non-dilutive government funding in Canada KMS has developed its unique, lean manufacturing process for over 15 years to provide cost-effective silicon powders that range from nanosilicon for lithium-ion batteries to polysilicon for semiconductors and solar-powered equipment. The relationship is expected to open the door to bring cost-effective silicon anodes to the electric vehicle market, the company said. "KMS's refined and scalable technology will expedite the development of our silicon anode technology, which will allow us to reach the next stage of innovations and enable commercialization in a shorter time frame," NEO CEO Spencer Huh said in a statement. "Leveraging the unique technologies of both parties will lead to synergies that will improve battery performance and sustainability and fulfil dire industry needs.” NEO said it has also commenced the mapping and sampling program on its two wholly-owned silica projects south of Golden in British Columbia. The program should take two to three weeks with the samples sent to Bureau Veritas Minerals, where they will be analyzed to confirm the percentage of silicon in the quartzite samples. NEO is a Vancouver-based resource company focused on battery metal exploration in North America. It is focusing on developing silicon anodes through nanocoating an ion-conductive elastomer layer, which provides improvements in capacity and efficiency over lithium-ion batteries using graphite in its anode materials. The company intends to become a silicon anode material supplier to the electric vehicle industry. It has staked new mining claims in Golden, along a strike with a quartzite bed, targeting silica in the quartzites for a total of 467 hectares. Contact the author at stephen.gunnion@proactiveinvestors.com