- NEO Battery Materials (TSXV:NBM) has chosen its preferred contractor for construction of its South Korean commercial plant
- The company selected the preferred contractor and will commence final negotiations regarding estimate details, construction timeline, material procurement, and other relevant considerations
- The South Korean commercial plant is expected to be completed by the first half of 2024, with the commissioning and mass production validation occurring later that year
- Neo Battery Materials Ltd. (TSXV:NBM) stocks opened trading at $0.21 per share
NEO Battery Materials (TSXV:NBM) has chosen its preferred contractor for construction of its South Korean commercial plant.
The company received three tentative quotes from local contractors following its request for quotation process.
After internal analysis, planning, and discussion among the management and commercialization engineering team, the company selected the preferred contractor and will commence final negotiations regarding estimate details, construction timeline, material procurement, and other relevant considerations.
Once the contract is finalized, the contractor will initiate site clearance, earth-bracing work, sleeve work, conduit, joint wall, framework, and foundation construction in the first three months.
The South Korean commercial plant is expected to be completed by the first half of 2024, with the commissioning and mass production validation occurring later that year.
The contractor has established a comprehensive engineering system to deliver a turn-key-based solution for the commercial plant’s construction. The contractor has experience with advanced engineering plants for semiconductors and chemicals, as well as logistics systems.
Based out of Vancouver, BC Neo Battery Metals is focused on lithium-ion battery metals.
Neo Battery Metals (NBM) opened trading at $0.21 per share.
This news follows the recent announcement from the company that it had achieved a significant technology milestone in its nanocoating manufacturing process, click here for more.
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