- Approval of Construction Permit for Silicon Anode Commercial Plant in
Oseong Foreign Investment Zone , Pyeongtaek City - Actively Engaged in Discussions to Secure Reliable,
Long-Term Investors for Strategic InvestmentsIdeal Strategic Investors to Cooperate with NEO to Expand Business Initiatives
- Targeting Non-Dilutive Funding Opportunities from South Korean Governments’ Green and Clean Technology Policies
The construction permit has been approved after a rigorous examination and due diligence period with the relevant departments of Pyeongtaek City and external organizations. As discussed, the Company will proceed to the invitation for bid (IFB) to select the ideal contractor for construction, and the initial construction phase will include site clearance and basic civil engineering to prepare for the build-out of the Commercial Plant.
Mr.
Strategic Investments & Non-Dilutive Funding from Green/Clean Technology Policies for
Additionally, through
“As we are on schedule to proceed to the next stages, the construction permit approval is a substantial catalyst that provides an advantageous position to attract the ideal strategic investments and also serves as a symbolic milestone to our business advancements. We aim to deliver subsequent news that bolsters both our business and financial position to create significant value for our shareholders,” stated Mr.
Along with strategic investments, South Korean governmental non-dilutive financing from green and clean technology policies will be targeted, and
About
NEO Battery Materials Ltd. is a Vancouver-based company focused on electric vehicle lithium-ion battery materials. NEO has a focus on producing silicon anode materials through its proprietary single-step nanocoating process, which provides improvements in capacity and efficiency over lithium-ion batteries using graphite in their anode materials. The Company intends to become a silicon anode active 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
President and CEO
604-355-6463
shuh@neobatterymaterials.com
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.
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