A Vancouver-based lithium-ion battery materials company has just reported that they have expanded into the United States to pursue business opportunities there, as well as open a manufacturing plant. NEO Battery Materials Ltd. is “a low-cost silicon anode materials developer building longer-running, rapid-charging lithium-ion batteries”. The new U.S. subsidiary is called NEO Battery Materials America LLC (“NBM America”).
Last week NEO reported that it “has successfully incorporated NEO Battery Materials America, LLC under the provisions and requirements of the State of Delaware”. As a wholly-owned and operated subsidiary, NBM America will now allow active and aggressive business development and relationship-building initiatives to market NEO’s core silicon anode materials in the U.S.
The management team is expected to visit Ohio and Kentucky in late March and early April to select the site for operation. The agenda involves building and strengthening business relationships with EV battery industry players and governmental organizations that include the Ohio Economic Development Association, JobsOhio, and REDI Cincinnati.
NBM America intends to secure strategic private capital and funding to enable U.S. commercial plant construction and create financial capacity for silicon waste recycling and other battery-related value-added projects. NEO’s goal is to become a silicon anode active materials supplier to the electric vehicle industry. More information can be found at https://www.neobatterymaterials.com/.