NEO Battery Materials Ltd, a Canadian developer of low-cost silicon anode materials that enhance lithium-ion battery performance, is pleased to announce the signing of a joint development agreement (JDA) with a North American battery cell manufacturer (“JDA Partner”) effective November 30, 2024. This collaboration aims to develop and improve silicon anode materials for specialty electric automotive and mobility applications. There are no material terms or financial considerations associated with this agreement.
Under the JDA, NEO will supply its proprietary polymer-coated silicon anode materials to the JDA Partner for integration into their lithium-ion battery cells. The partnership will follow a structured, multi-phase approach, modifying and optimizing NEO’s silicon anodes as battery cell sizes and formats scale up. This systematic progression is designed to rigorously evaluate and enhance the electrochemical performance of the silicon anodes within the JDA Partner’s proprietary cell architecture.
Mr. Spencer Huh, Director, President, and CEO of NEO, commented:
“This partnership represents our first joint development agreement and milestone with the downstream supply chain. By collaborating with this battery cell manufacturer, we aim to execute our silicon anode commercialization plans in a timely and efficient manner, thereby contributing to the advancement of electric mobility solutions. Moreover, NEO and JDA Partner intend to strengthen the North American battery supply chain, diversify the concentration of the supply chain, and reduce overall battery costs.”
This agreement underscores NEO’s commitment to forming strategic partnerships that drive innovation and commercialization in the battery industry. The Company is also finalizing a land lease agreement with a Canadian municipality to construct and develop NEO’s North American silicon anode plant. The North American battery supply chain is projected to expand significantly, with cell production expected to exceed 1.2 terawatt-hours (TWh) annually by 2030, up from 300 gigawatt-hours (GWh) in 2024.
About NEO Battery Materials Ltd.
NEO Battery Materials Ltd. is a Canadian battery materials technology company focused on developing silicon anode materials for lithium-ion batteries used in electric vehicles, electronics, and energy storage systems. Utilizing a patent-protected, low-cost manufacturing process, NEO enables longer-running and ultra-fast charging batteries compared to current technologies. The Company aims to become a global leader in producing silicon anode materials for the electric vehicle and energy storage industries.
Source: Neo Battery Materials
