NEO Battery Materials, a low-cost, silicon-enhanced battery developer that enables longer-running, rapid-charging batteries for drones, robotics, and electronics, is pleased to secure an expansion site to establish battery cell manufacturing capabilities and scale-up silicon battery material production and research operations. Located adjacent to the recently announced operational electrode manufacturing facility in South Korea (“First Facility”), the site comprises 6 vacant industrial buildings on 2.5 acres with an additional 0.8 acres designated for future expansion.
The expansion site is a critical component in establishing NEO’s new Battery Innovation Platform, which will design and manufacture high-performance, customized battery solutions for drones, robotics, and AI-enabled electronics. Cylindrical and prismatic-format battery manufacturing equipment will be installed to produce an expected annual capacity of 20 megawatt-hours (MWh). With existing pouch-format battery equipment in the First Facility, NEO will possess full capability across all 3 battery formats, enabling supply to any end-user system and specification.
In parallel, the Company will apportion one building to expand its silicon battery material production to 20 tons per year. Along with direct sales, NEO’s silicon will be integrated into the First Facility’s electrode manufacturing lines and then assembled into various battery formats at the expansion site. An enhanced R&D division will be instituted to custom-design solutions for customers, optimize all manufacturing process yields, and advance high-performance battery technologies.
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Equipment orders have been placed for (i) battery cell assembly and formation process and (ii) silicon battery material synthesis. The Company will provide updates upon the completion of the deposit payment, site due diligence, and facility preparation. The Company further expects the definitive lease agreement of the operational electrode manufacturing facility to be finalized shortly.
NEO Battery targets to design, develop, and produce the following silicon-enhanced battery products for various end-user applications:
- High-capacity pouch batteries for drones or unmanned aerial vehicles, consumer electronics, and medical devices
- High-nickel NMC (nickel-manganese-cobalt) cylindrical batteries for autonomous or AI-enabled systems, robotics, power tools, and eVTOL or electric aircraft
- LFP (lithium-iron-phosphate) and high-Ni NMC prismatic batteries for energy storage systems for AI data centers and power grid, industrial and commercial mobility (i.e., forklifts, electric boats, e-mobility), and automotive
Mr. Seok Joung Youn, Head of Manufacturing & Facility Operations, commented, “By integrating end-to-end battery value chain capabilities, NEO aims to reduce reliance on outsourced manufacturing, shorten product development timelines, and enhance quality control over the materials, electrodes, and cells supplied to customers. This vertical integration effort will allow the Company to become a reliable, high-quality one-stop shop or a Battery Foundry in the Western and North American supply chain.”
SOURCE: GlobeNewswire