NEO Battery Materials signs LOI with Top U.S. University Spin-Out Developer | Appoints New CTO
387NEO Battery Materials Ltd. (“NEO” or the “Company”), a low-cost silicon anode materials developer that enables longer-running, rapid-charging lithium-ion batteries, is highly pleased to announce that Dr. S. G. Kim, a silicon/polymer material and chemical technology development expert, has been appointed as NEO’s Chief Technology Officer (“CTO”).
NEO Battery Materials signs LOI with Top U.S. University Spin-Out Developer | Appoints New CTO - (TSXV: NBM) (OTCQB: NBMFF) March 7, 2023 #neobatterymaterials #news #richtvlive #lithiumionbatteries #richtv #business #interview
RICH TV LIVE Interview with Danny Huh Director of Corporate Development
Dr. Kim served as the Executive Vice President and Head of R&D of Hanwha Solutions’ Advanced Materials Division, the chemical manufacturing arm of the South Korean conglomerate with sales amassing 10 billion USD. With responsibilities ranging from new product development and commercial plant construction, Dr. Kim led Hanwha Solutions to nearly double new product sales and expand the core technology portfolio by leading several value-added projects for global automotive, aerospace, and electronics companies. Dr. Kim additionally led inorganic growth efforts by closing two M&A transactions that fortified Hanwha’s hydrogen and electronics business between 2021 and 2022.
Dr. S. G. Kim, CTO of NEO, commented, “I am more than excited to join NEO’s roadmap to commercialization. Based on my decades of experience in chemical product R&D, the promise, performance, and potential of NEO’s silicon anode material are currently unmatched by any other competitor, and I have strong confidence to apply my expertise and lead NEO’s R&D team for our products to be integrated into every electric vehicle batteries. NEO will explore additional business opportunities through my existing global business and R&D network.”
Mr. Spencer Huh, President and CEO of NEO, commented, “With Dr. Kim’s successful track record of chemical product development in the silicon, polymer, and lithium-ion battery space, we now have a full-fledged leadership and technology team to expedite NEO’s silicon anode innovation and to advance our relationships with global battery industry players. Dr. Kim’s experience in leading global technology companies and his extensive business network will allow NEO to gain new strategic, value-enhancing opportunities for growth.”
Under the terms of the LOI, the Parties will jointly explore opportunities to integrate the Developer’s polymer electrolyte technology into NEO’s silicon anode system to improve the performance by effectively controlling silicon’s volume expansion problem. Additionally, the non-flammable nature of polymer electrolytes can provide increased safety improvements as opposed to conventional liquid electrolytes, preventing the risk of battery fires and explosions. NEO and the Developer acknowledge that creative, yet fast-paced R&D and collaboration must occur to scale both Parties’ technologies into commercial-level products and outputs.
Mr. Spencer Huh, President & CEO of NEO, commented, “We are more than welcome to start a working relationship with the unnamed Developer. By combining our unique solutions together, the Developer’s polymer system may activate an enhanced durability and safety characteristic for NEO’s silicon anode, effectively reducing the mechanical stress from volume expansion. Successful integration and compatibility with the Developer’s product can introduce NEO’s silicon anode materials into various applications.”
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