Silicon Battery Developer Moving Higher on Collaboration

By: Tomas Ronolski - AllPennyStocks.com News

Thursday, December 19, 2024

This battery developer is moving higher in Thursday trade following the announcement of a new agreement to develop and enhance the performance of silicon anode materials for specialty electric automotive and mobility applications.

NEO Battery Materials Ltd. (TSXV: NBM) (OTC: NBMFF) is a low-cost silicon anode materials developer that enables longer-running, rapid-charging lithium-ion batteries. In a press release today, the company announced a joint development agreement with a North American battery cell manufacturer, effective November 30, 2024.

Per the agreement, to rigorously evaluate and enhance the silicon anode electrochemical performance within the partner’s proprietary cell architecture, NEO will supply its proprietary polymer-coated silicon anode materials to the joint partner for integration into their lithium-ion battery cells. The collaboration will proceed through a structured, multi-phase approach and NEO’s silicon anodes will be modified and optimized according to the scale-up of battery cell sizes and formats.

Both U.S. and Canadian shares were trading higher in late morning activity.

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