NEO Battery Supplies Company Replace on Product R&D, Superior Testing, and Pathway-to-Commercialization

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TORONTO, July 30, 2024 (GLOBE NEWSWIRE) — (TSXV: NBM) (OTC: NBMFF)

• Effectively Underway in Executing 5-Pillared Technique for 2024
• Rising Battery Worth Chain Demand for NEO’s Silicon Anodes
  • Business Relationships Materializing with Collaboration Agreements
  • A number of New Relationships Established with Battery Cell & EV Producers from China, Japan, India, France, and Scandinavia
• New Efficiency Breakthroughs with Modified Formulations & Additive Deployment
  • Commenced Graphite Anode Screening and Compatibility Testing
  • To Provoke Full Cell Testing with LFP & NCM Cathodes
• Finalizing Location in Canada via Late-Stage Dialogue with Undisclosed Area

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NEO Battery Supplies Ltd. (“NEO” or the “Company”), a low-cost silicon anode supplies developer that allows longer-running, rapid-charging lithium-ion batteries, is happy to offer a company replace on the established order and developments of NEO’s proprietary silicon anode supplies – NBMSiDE^®, product testing plans, and pathway-to-commercialization.

Letter to Shareholders

Pricey NEO Battery Supplies Shareholders,

Thanks on your continued curiosity in and loyalty to NEO Battery Supplies. Regardless of rising headwinds from the slowdown within the electrical automobile (EV) market, the demand for silicon anodes continues to develop. Silicon is important in enhancing the worth and efficiency of EV batteries. NEO has made new strides in enhancing our silicon anode efficiency with our distinctive group of battery engineers. The growing maturity of our expertise immediately strengthens the Firm’s basic place and worth. As mentioned within the earlier Letter to Shareholders, administration and the engineering group are properly underway in executing our 5-pillared technique for 2024.

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Partnerships: Rising Battery Worth Chain Demand

In 2024, NEO Battery Supplies will prioritize enhancing the efficiency and lowering the price of NBMSiDE^®. This precedence will assist set up industrial agreements with our working events. Over the previous 2 months, we solid collaborations with INNOX eco-M and Lotus Power Recycling. This achievement can also be a big enterprise growth as steady, emission-friendly sources have been secured to strengthen long-term value competitiveness.

Ongoing discussions are underway with firms beneath present non-disclosure agreements (NDA). These downstream firms are conducting materials evaluations, and we’re delivery regularly enhanced NBMSiDE^®. The expansion potential of the silicon anode market is increased than in earlier years as a result of growing name from battery cell and EV producers to make use of silicon anodes. Consequently, the Firm has established a number of new relationships all through the battery worth chain, together with international producers in China, Japan, India, France, and Scandinavia.

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Product Improvement: Breakthroughs & Scaled-Up Testing

We’ve continued to commit funding into product R&D. Most lately, we attained a big course of innovation of scaling the manufacturing capability to 4 tons per yr with out extra gear. With our devoted R&D group, the core analysis focuses are i) enhancing the battery cycle life and ii) sustaining a excessive, regular coulombic effectivity (a measure of battery capability retention). We’re reaching new efficiency breakthroughs by modifying formulations and deploying components, together with carbon nanotubes (CNT) and strong coating layers. We’ll present a separate technical information launch in early August relating to key efficiency developments of the NBMSiDE^® product.

As highlighted in Pillar 3 – R&D Course, we now have commenced testing NBMSiDE^® merchandise with graphite anode supplies. Our engineers have targeted on optimizing a pure 100% silicon-based anode to display proof-of-concept. Nonetheless, as typical batteries mix silicon and graphite anodes, the R&D will now optimize NBMSiDE^® with synthetic and pure graphite anodes. NEO is testing several types of graphite anodes to display screen for compatibility. These checks would be the key to transferring to the next levels with battery cell and EV producers.

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NEO additionally plans to conduct full cell testing with numerous cathode chemistries, together with nickel-cobalt-manganese (NCM) and lithium-iron-phosphate (LFP) supplies. This can replicate commercial-level battery working situations. Together with solid-state batteries (SSB), there was rising curiosity in silicon anode adoption in LFP batteries to compensate for LFP’s decrease particular capability than NCM. Pattern checks are being performed with SSB builders, and extra pattern checks are deliberate with performance-enhanced silicon anodes.

Pathway-to-Commercialization: Finalizing Location in Canada

As mentioned in Pillar 4 – Mass Manufacturing Plans & Inclination In the direction of Canadian Operations, the Canadian authorities launched aggressive insurance policies to draw funding from the EV and battery sectors. To serve the most effective curiosity of our shareholders, NEO has determined to provoke mass manufacturing plans in Canada. We’re in late-stage discussions with an undisclosed Canadian area to finalize the placement and land.

We plan to method our pathway-to-commercialization in a capital-efficient and risk-reduced method. Due to this fact, NEO will prioritize product optimization (i.e., silicon modification, graphite anode testing, and full cell testing), set up superior industrial agreements with testing companions, after which construct capability will increase in Canada. We’ll replace our commercialization plans and timelines in a separate information launch.

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Closing Assertion

Regardless of the troublesome capital market state of affairs for EV and battery-related firms and business headwinds, administration and our engineers stay enthusiastic and optimistic relating to our product, partnerships, and commercialization developments. NBMSiDE^® retains the mandatory and potent expertise to stimulate EV demand via longer-running, faster-charging, and lower-cost batteries. We’ve diligently executed our 5-pillared technique for 2024 and can attempt for brand new heights in our progress, product growth, and basic place. As a enterprise expertise firm, NEO has efficiently accomplished financings in a strategic and well timed method with out damaging intrinsic shareholders’ worth. We’re assured that we’ll proceed to execute our plans.

We stay dedicated to our mission of commercializing our silicon anode supplies and value-added initiatives. We sincerely thank our shareholders for his or her continued curiosity in and assist of the Firm.

Finest regards,

Spencer Huh
Director, President & CEO

About NEO Battery Supplies Ltd.
NEO Battery Supplies is a Canadian battery supplies expertise firm targeted on growing silicon anode supplies for lithium-ion batteries in electrical automobiles, electronics, and power storage techniques. With a patent-protected, low-cost manufacturing course of, NEO Battery allows longer-running and ultra-fast charging batteries in comparison with present state-of-the-art applied sciences. The Firm goals to be a globally-leading producer of silicon anode supplies for the electrical automobile and power storage industries. For extra info, please go to the Firm’s web site at: https://www.neobatterymaterials.com/.

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On Behalf of the Board of Administrators
Spencer Huh
Director, President, and CEO

For Investor Relations, PR & Extra Data:
data@neobatterymaterials.com

This information launch consists of sure forward-looking statements in addition to administration’s targets, methods, beliefs and intentions. All info contained herein that’s not clearly historic in nature might represent forward-looking info. Typically, such forward-looking info might be recognized notably, however not restricted to, by way of forward-looking terminology reminiscent of “plans”, “expects,” or “doesn’t count on”, “is predicted”, “funds”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “doesn’t anticipate”, or “believes”, or variations of such phrases and phrases or state that sure actions, occasions or outcomes “might”, “might”, “would”, “may” or “will likely be taken”, “happen”, “be achieved”, and related phrases referring to future occasions and outcomes. Ahead-looking info is topic to recognized and unknown dangers, uncertainties and different elements that will trigger the precise outcomes, stage of exercise, efficiency or achievements of the Firm to be materially completely different from these expressed or implied by such forward-looking info, together with however not restricted to: (i) risky inventory costs; (ii) the final international markets and financial situations; (iii) the potential of write-downs and impairments; (iv) the chance related to the analysis and growth of superior applied sciences; (v) the chance related to the effectiveness and feasibility of applied sciences that haven’t but been examined or confirmed on industrial scale; (vi) the dangers related to coming into into joint ventures, collaboration agreements, joint growth agreements, and related industrial agreements; (vii) fluctuations in enter precursor costs; (viii) the dangers related to uninsurable dangers arising through the course of analysis, growth and manufacturing; (ix) competitors confronted by the ensuing issuer in securing skilled personnel and financing; (x) entry to enough infrastructure to assist battery supplies analysis and growth actions; (xi) the dangers related to modifications within the expertise regulatory regime governing the Firm; (xii) the dangers related to the assorted environmental rules the Firm is topic to; (xiii) dangers associated to regulatory and allowing delays; (xiv) the reliance on key personnel; (xv) liquidity dangers; (xvi) the chance of litigation; and (xvii) danger administration, as described in additional element in our latest securities filings obtainable at www.sedarplus.com. Ahead-looking info is predicated on assumptions administration believes to be affordable on the time such statements are made, together with however not restricted to, continued analysis and growth actions, no materials opposed change in precursor costs and growth plans to proceed in accordance with plans and such plans to realize their acknowledged anticipated outcomes, receipt of required regulatory approvals, and such different assumptions and elements as set out herein. Though the Firm has tried to determine vital elements that might trigger precise outcomes to vary materially from these contained within the forward-looking info, there could also be different elements that trigger outcomes to not be as anticipated, estimated or meant. There might be no assurance that such forward-looking info will show to be correct, as precise outcomes and future occasions might differ materially from these anticipated in such forward-looking info. Such forward-looking info has been offered for the aim of helping traders in understanding the Firm’s enterprise, operations, analysis and growth, and commercialization plans and is probably not acceptable for different functions. Accordingly, readers mustn’t place undue reliance on forward-looking info. We assume no obligation to revise or replace these forward-looking statements besides as required by relevant regulation.

Neither TSX Enterprise Change nor its Regulation Providers Supplier (as that time period is outlined within the insurance policies of the TSX Enterprise Change) accepts duty for the adequacy or accuracy of this launch.

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