VANCOUVER, British Columbia, April 10, 2023 (GLOBE NEWSWIRE) -- (TSXV: NBM) (OTCQB: NBMFF)
Files 6th Patent to Korean Intellectual Property Office for One-Step Nanocoating Technology for Silicon Anodes
Ongoing Commitment to Strengthen IP Portfolio and Protect Unique Battery Engineering and Technology Solution
Expected to File Multiple Patents on Materials and Manufacturing Process in First Half of 2023
Completed RFQ Process & Received Bids from 3 Candidate Contractors in South Korea
To Negotiate and Select Contractor for Initial Civil Engineering and Project Management Plan to Start Construction
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 that the Company has filed its 6th patent to the Korean Intellectual Property Office (“KIPO”). This latest patent application demonstrates NEO’s on-going commitment to strengthening its IP portfolio and protecting its one-step nanocoating technology for silicon anodes.
Sixth Patent Filed to KIPO
The patent entitled Silicon composite manufacturing method further extends on the cost-reduction innovation and technical excellence for the research and development of NBMSiDE™, NEO Battery’s Silicon Anode Materials. The Company additionally intends to apply to the U.S. Patent and Trademark Office and the World Intellectual Property Organization for extensive patent protection in various jurisdictions. In the first half of 2023, NEO Battery Materials will shortly file multiple patents to develop a robust IP portfolio for its materials and manufacturing processes.
Dr. S. G. Kim, CTO of NEO, commented, “With the battery industry and multiple evaluation parties impressed with NEO’s differentiated product solution, our R&D team in South Korea is committed to engineering excellence to remain at the forefront for low-cost, high-performance silicon anodes. Dr. Basudev Swain, Chief Science Officer, and I will combine efforts to efficiently optimize materials and enable commercialization by the first half of next year.”
Completion of RFQ Process for Commercial Plant Construction Initiation
Following the last press release, the Company has completed the request for quotation (RFQ) process and received three tentative quotes for constructing the South Korean Commercial Plant. As the next phase, NEO Battery Materials will negotiate with the candidate contractors. Once a contractor is finalized, the Oseong Zone site clearance, basic civil engineering, procurement planning, and construction management plan are expected to be initiated.
About NEO Battery Materials Ltd.
NEO Battery Materials Ltd. is a Vancouver-based company focused on electric vehicle lithium-ion battery materials. NEO has a focus on producing silicon anode materials through its proprietary single-step nanocoating process, which provides improvements in capacity and efficiency over lithium-ion batteries using graphite in their anode materials. The Company intends to become a silicon anode active materials supplier to the electric vehicle industry. For more information, please visit the Company’s website at: https://www.neobatterymaterials.com/.
On behalf of the Board of Directors
President and CEO
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