NEO Battery Materials Announces Second Licensing Agreement with YUIF Regarding Silicon Nanocoating Technology

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Vancouver, British Columbia--(Newsfile Corp. - July 22, 2021) - NEO Battery Materials Ltd. (TSXV: NBM) (OTC: NBMFF) ("NEO" or the "Company") is pleased to announce it has entered into a second licensing agreement (the "Agreement") with Yonsei University-Industry Foundation ("YUIF") in South Korea. NEO will be granted an exclusive worldwide license for the patent regarding silicon anode nanocoating technology for lithium-ion batteries.

Name of InventionPatent No. / Registration No.
1Silicon composite for lithium secondary battery and manufacturing method thereofKR 10-2021-0092783

 
The Agreement is with regards to a modified carbon nanotube (CNT) coating material that is directly integrable and suitable with NEO's current silicon (Si) nanocoating technology and process. This modified CNT coating technology presents substantial improvements in long-term stability and output characteristics compared to conventional CNT/silicon mixture anodes. The patent in the Agreement is currently pending in South Korea, and NEO will file the same invention through the Patent Cooperation Treaty (PCT) for international IP protection.

While the Company is expediting the process of commercializing the main elastomer nanocoating technology, NEO is also planning to utilize this modified CNT coating technology as another product pipeline for its nanocoating material on silicon anodes and exploring the opportunity to scale this additional material for production.

Spencer Huh, President and CEO of NEO, commented, "We are excited to have licensed another key technology from YUIF to strengthen NEO's product portfolio. Striking this licensing agreement has been successful due to the consistent progress of our collaborative development with Yonsei University. We are expecting to strengthen our IP portfolio by adding more patents going forward."

"When formulating Si anodes, NEO has great confidence in realizing greater cost reductions through utilizing both solution-based coating technology and metallurgical-grade Si microparticles. Further detailed technical updates on NEO's CNT coating technology will be provided continually," said Dr. J. H. Park, Director and Chief Scientific Advisor of NEO.

CNTs have been used as a conducting agent for existing cathode materials. Due to its superior conductivity compared to existing conductive additives, CNTs have been implemented into high-performance secondary (rechargeable) batteries, and recently, the materials have been applied to silicon anodes such as those in the Porsche Taycan. According to ResearchAndMarkets, the global CNT market is expected to grow to $1.7B USD by 2026 with a CAGR of 14.4% from 2021. The expansion of this market will be mainly driven by the growth of the energy and storage industry due to the rising demand for renewable energy sources and clean technology initiatives.

About Dr. Jong Hyeok Park

Dr. Jong Hyeok Park is the Chief Scientific Advisor and Director of NEO Battery Materials Ltd. He has served as a Senior Researcher for LG Chem and is the co-developer of LG Chem's core innovative technology of the Safety-Reinforced Separator (SRS). Dr. Park owns a total of 92 patents related to battery technology and energy innovations. Recently, he has solely received the prestigious S-OIL 2020 Next-Generation Scientist Award in the Energy Field and was selected as one of the Top 100 Leading Scientists for Renewable Energy Technology by the Korean Academy of Science and Technology. Dr. Park is currently a Professor of Chemical and Biomolecular Engineering at Yonsei University in Seoul.

About Yonsei University-Industry Foundation

The University-Industry Foundation of Yonsei University (YUIF) was founded in 1991 as the Yonsei University Office of Research Affairs to accelerate the initiative to become the leading global research-focused university. Since then, YUIF has achieved noticeable synergies and accomplishments with domestic and international companies through licensing their diverse portfolio of patents and intellectual properties.

About NEO Battery Materials Ltd.

NEO Battery Materials Ltd. is a Vancouver-based resource company focused on battery metals and materials. The Company has staked new mining claims in Golden, BC, along a strike with a quartzite bed, targeting silica in the quartzites for a total of 467 hectares. NEO is also focusing on developing silicon anodes, which provide improvements in capacity and efficiency over lithium-ion batteries using graphite in their anode materials. The Company intends to become an integrated silicon producer and anode materials supplier to the electric vehicle industry. For more information, please visit the Company's website at: https://www.neobatterymaterials.com/.

On behalf of the Board of Directors
Spencer Huh
President and CEO
604-697-2408
[email protected]

This news release includes certain forward-looking statements as well as management's objectives, strategies, beliefs and intentions. Forward looking statements are frequently identified by such words as "may", "will", "plan", "expect", "anticipate", "estimate", "intend" and similar words referring to future events and results. Forward-looking statements are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, the effectiveness and feasibility of technologies which have not yet been tested or proven on a commercial scale, competitive risks and the availability of financing, as described in more detail in our recent securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward-looking statements and we caution against placing undue reliance thereon. We assume no obligation to revise or update these forward-looking statements except as required by applicable law.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/90975

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