TORONTO, Nov. 28, 2024 (GLOBE NEWSWIRE) -- NEO Battery Materials Ltd. (TSXV: NBM) (OTC: NBMFF), a low-cost silicon anode materials developer that enables longer-running, rapid-charging lithium-ion batteries, is pleased to announce the signing of a Memorandum of Understanding (“MOU”) with OCSiAl LLC (“OCSiAl”), the world’s largest industrial producer of single wall carbon nanotubes (SWCNTs), on October 23, 2024. OCSiAl will supply NEO with SWCNT products to manufacture a high-specification model of NEO’s polymer-coated silicon anodes. There are no material terms or considerations regarding this MOU.

Via the usage of single wall carbon nanotubes, NEO targets advancements in three key metrics: battery cycling stability, initial specific capacity, and coulombic efficiency. The primary application areas include electric vehicles and electronics, where enhanced longevity and energy efficiency face escalating demand.

OCSiAl’s single wall carbon nanotubes, branded TUBALL™, are recognized as one of the most advanced carbonaceous materials. Even at ultra low concentrations, TUBALL™ exhibits effective performance with high conductivity, flexibility, and mechanical robustness, demonstrating the ability to increase battery cycle life by up to 4 times when added to silicon anodes. Under the MOU, OCSiAl’s TUBALL™ will serve as both a conductive additive and coating materials for reinforcing the structural and electrochemical properties of NEO’s silicon anodes.

Andrej Seniut, Head of OCSiAl Energy Projects, said, “The battery industry is increasingly recognizing single-wall carbon nanotubes as an indispensable component in various battery technologies, particularly in silicon anodes, where we are seeing a growing number of clients worldwide. NEO’s approach to silicon anode manufacturing promises to reduce the cost of silicon anode materials, which is important for achieving increased adoption of this technology in Li-ion EV batteries. OCSiAl, being also a former start-up, supports innovative companies and wishes NEO success in their research.”

Mr. Spencer Huh, Director, President, & CEO of NEO, commented, “Our partnership with OCSiAl underscores NEO’s mission to pioneer silicon innovations that enhance the capabilities of lithium-ion batteries. OCSiAl’s expertise in SWCNT technology directly complements our silicon anode research and our continued efforts to utilize CNTs as an enhancing material. We are confident that this collaboration will bring us closer to realizing anodes that deliver higher capacity and stability for our downstream partners.”

About OCSiAl LLC

OCSiAl is the world’s sole industrial producer of single wall carbon nanotubes, named TUBALL™. Headquartered in Luxembourg, OCSiAl employs around 400 employees worldwide with representation in 20 countries. Recently, OCSiAl opened its first European production facility in Serbia, which is capable of initially producing 60 tonnes of SWCNTs per year, sufficient to enhance up to 65 GWh of lithium-ion batteries or 1 million EVs.

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-fast charging batteries compared to existing state-of-the-art technologies. The Company aims to be a globally-leading producer of silicon anode materials for 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 Directors
Spencer Huh
Director, President, and CEO

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