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Vancouver, British Columbia--(Newsfile Corp. - November 18, 2021) - NEO Battery Materials Ltd. (TSXV: NBM) (OTCQB: NBMFF) ("NEO" or the "Company") is pleased to announce that the Company has received a Notice of Allowance from the Korean Intellectual Property Office ("KIPO") regarding a core patent of NEO's silicon (Si) anode material technology since the application made in November 2020. The KIPO has determined that the core patent should be registered and will shortly issue the requested patent upon the completion of the necessary documentation.
In the first licensing agreement with the Yonsei University-Industry Foundation ("YUIF"), NEO had been granted the worldwide exclusive license for three patents regarding the Company's proprietary silicon nanocoating process to manufacture lithium-ion battery negative electrode (anode) active materials. One of the three patents related to the silicon-polymer composite had been approved by the KIPO for issuance as a registered patent, bringing NEO's patents to a total of 3 with 2 patents that are pending.
This patent will be further applied to the U.S. Patent and Trademark Office ("USPTO") and to the World Intellectual Property Organization ("WIPO") through the Patent Cooperation Treaty (PCT) to seek wider ground for IP protection of the Company's Si anode materials.
Mr. Spencer Huh, President and CEO, commented, "We are pleased to have one of our core Si anode patents to be approved by the KIPO. The Notice of Allowance provides further confirmation of the unique attributes of NEO's Si nanocoating technology, and we will move forward to bolster the IP portfolio with new patents and as mentioned, to the USPTO and WIPO for international designation."
About NEO Battery Materials Ltd.
NEO Battery Materials Ltd. is a Vancouver-based company focused on battery metals and materials. NEO has a focus on producing silicon anodes 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
This news release includes certain forward-looking statements as well as management's objectives, strategies, beliefs and intentions. Forward looking statements are frequently identified by such words as "may", "will", "plan", "expect", "anticipate", "estimate", "intend" and similar words referring to future events and results. Forward-looking statements are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, the effectiveness and feasibility of technologies which have not yet been tested or proven on a commercial scale, competitive risks and the availability of financing, as described in more detail in our recent securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward-looking statements and we caution against placing undue reliance thereon. We assume no obligation to revise or update these forward-looking statements except as required by applicable law.
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