NEO Battery Components to Set up NBM The usa for U.S. Enterprise Growth of Silicon Anodes and Battery Components

January 25, 2023 (Supply) – (TSXV: NBM) (OTCQB: NBMFF)

• Beneath Course of action to Establish NBM The us Ltd. in Ohio for U.S. Company Growth
• To Initiate Active Organization Improvement for Main Silicon Anode Small business and Increase Benefit-Maximizing Tasks in Battery Materials Industry
  • To Assist Closer Interaction with U.S.-Centered NDA Parties for Company Functions and Collaboration
• To Safe State and Federal-Level Funding Options from IRA/DOE and Entry Substantial Pool of Venture Capital Funding through NBM The usa

NEO Battery Products Ltd. (“NEO” or the “Company”), a low-value silicon anode elements developer that permits more time-managing, immediate-charging lithium-ion batteries, is delighted to announce that the Firm is less than the approach to create NBM The usa Ltd., a U.S. subsidiary, in February. NBM America will be thoroughly owned by NEO Battery Components and will actively search for U.S. enlargement possibilities that include things like the Company’s core silicon anode company and new benefit-extra jobs in the battery resources business.

Ohio: The New Strategic U.S. Battery Hub
The Ohio R&D Centre and place of work will be added for the 1st phase of the U.S. company expansion plan. NBM The united states will start lively company improvement to enter the U.S. marketplace for the core silicon anode company and will concurrently evaluate new battery components jobs to include further worth for NEO Battery Elements. The Subsidiary will allow closer interaction with U.S.-based mostly NDA get-togethers to expedite enterprise and collaborative functions, and supplemental manpower will be supplemented to aid this enlargement.

As a private company, NBM The us will emphasis on securing funding options from condition-stage courses to federal-level initiatives that involve the Inflation Reduction Act and Section of Vitality funding. The Subsidiary will also concentrate on accessing the big pool of U.S. undertaking funds funding that focuses on cleantech thematic investing and strengthening EV infrastructure. Several opportunities will generate a stable money runway for NBM The united states to assemble added business vegetation and worth-add jobs like silicon squander recycling in the U.S.

Ohio has been recognized as a strategic hub for the growing U.S. battery offer chain. The Condition at the moment presents a favorable company ecosystem for foreign businesses, particularly for these in the battery source chain like NEO Battery Resources. Ultium Cells, a joint enterprise involving LG Energy Resolution and General Motors, has commenced output in its Ohio gigafactory battery plant (USD 2.3B financial commitment), and lately, LG Energy Remedy and Honda have introduced a joint enterprise for a gigafactory battery plant in Ohio (USD 4.4B expenditure). The Firm has initiated communication with the condition of Ohio, and the Company will keep on with the required proceedings with NEO’s advisor in Ohio.

Mr. Spencer Huh, President and CEO of NEO, commented, “We are now actively pursuing the U.S. expansion method following highly good outcomes from optimization and commercialization progress of our silicon anode resources, NBMSiDE™. We also identify the sizeable opportunity for silicon waste recycling in the U.S. as we have secured main engineers and researchers. By means of NBM The usa, we strongly think NEO can raise its publicity to the bigger small business and expenditure neighborhood in the U.S.”

About NEO Battery Products Ltd.
NEO Battery Materials Ltd. is a Vancouver-centered enterprise targeted on electric vehicle lithium-ion battery components. NEO has a aim on manufacturing silicon anode elements through its proprietary one-stage nanocoating approach, which provides improvements in capability and performance about lithium-ion batteries using graphite in their anode supplies. The Corporation intends to develop into a silicon anode active materials supplier to the electric powered motor vehicle industry. For extra data, make sure you go to the Company’s internet site at: https://www.neobatterymaterials.com/.

On behalf of the Board of Directors
Spencer Huh
President and CEO
604-355-6463
[email protected]

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