NEO Battery Materials (NBM) has upscaled its pilot plant to a semi-commercial scale for its silicon anode materials.
The plant is now finalized to produce 120 tons per year, sufficient to supply 40,000 electric vehicles.
NEO upscaled its plant due to requirements from customers within the lithium-ion battery supply chain for electric vehicles. After construction and once processes are optimized, the semi-commercial plant can be converted into a commercial-scale facility without substantial modifications.
The company is also working on increasing the silicon content in the anode component by over a 20 per cent loading through controlled volume expansion and solid-electrolyte interphase growth.
Suk Joong Hwang, a member of the Scientific Advisory Board, has been appointed as Project Manager for the semi-commercial plant project. Hwang has over 20 years of experience in process engineering in the chemical and polymer industry. He specializes in scaling up products from the lab to mass production through pilot and semi-commercial plants.
Spencer Huh, NEO's President and CEO, commented,
"All of the progress is exceeding our expectations and predicted timeline as our team is diligently accelerating our commercialization process. Based on internal sample testing results and the optimization of our manufacturing process, we have validated the ability to upscale from a pilot to a semi-commercial scale facility. Between all management, advisors, and engineers, there is unanimous agreement and great confidence for the mass adoption of NEO's silicon anodes by the industry."
Dr. J. H. Park, NEO's Director and Chief Scientific Advisor added,
"The location of the semi-commercial facility is being narrowed down, and the area is expected to be approximately 55,000 square feet with numerous South Korean battery cell and material manufacturers in the proximity. The space of the plant site considers the installation of at least 5 mass-production lines when the semi-commercial plant is fully converted into a commercial facility. With regards to sample testing, the results and due diligence will take on average a month, but we are actively shortening the period through expanding the production capacity of our prototype anodes."
NEO Battery Materials is a Vancouver-based resource company focused on battery metals and materials.
NEO Battery Materials (NBM) is up by 3.8 per cent and is currently trading at $0.82 per share as of 12:25 pm ET.