VANCOUVER, British Columbia, Jan. 17, 2023 (WORLD WIRE SERVICE) — (TSXV: NBM) (OTCQB: NBMFF)

• Authorization of Advancement Enable Silicon Anode Plant in Oseong Overseas Financing Area, Pyeongtaek Metropolitan Area
• Proactively Taken Part In Conversations to Safe Dependable, Lengthy-Time duration Purchasers for Strategic Investments
  • Magnificent Strategic Purchasers to Accept NEO to Establish Venture Efforts
• Concentrating On Non-Dilutive Financing Alternatives from South Korean Federal Governments’ Unskilled and also Clear Knowledge Insurance coverage

NEO Battery Products Ltd. (“NEO” or the “Company”), a low-priced silicon anode materials designer that enables longer-running, rapid-charging lithium-ion batteries, is exceptionally pleased to introduce that the advancement permit the Company’s Silicon Anode Plant has actually been authorized by the City of Pyeongtaek. With an preliminary capacity of 240 lots per year, the Plant will have the ability to providing silicon anodes to as high as 160,000 electric vehicles, and also NEO strategies to concentrate on the full-fledged capacity at a very little production of 2,000 lots per year.

The advancement permit has actually been authorized after a strenuous assessment and also due persistance period with the relevant divisions of Pyeongtaek City and also outside companies. As discussed, the Company will certainly continue to the invite for quote (IFB) to choose the very best specialist for structure, and also the initial structure component will certainly accept site clearance and also main civil design to schedule the build-out of the Plant.

Mr. Spencer Huh, Head Of State and also Chief Executive Officer of NEO, commented, “We’re extremely delighted to introduce this long-awaited landmark purpose to prompt the main actions of our organization plant’s structure. From the dynamic, thorough job of our commercialization design staff, we have actually obtained achieved the due persistance period with the community faster than expected to attain the authorization, and also we’ll continue to speed up the complying with procedures to disturb flooring and also established the Company right into a crucial company of silicon anodes within the EV battery give chain as rapidly as possible.”

Strategic Investments & Non-Dilutive Financing from Inexperienced/Clear Knowledge Insurance coverage for Plant Advancement & Equipment
NEO Battery Products is proactively involved to risk-free trustworthy, lasting investors, which accept institutional investors and also firms, that might provide calculated financial investments for structure and also devices. Management regards calculated investors that have the necessary possessions, expertises, and also area can aid NEO’s venture efforts to raise within the globe EV lithium-ion battery market. In concurrence with commercialization development, the Company focuses on decreasing justness dilution and also getting to the optimal funding building level.

In Addition, by NBM Korea Ltd., NEO’s South Oriental subsidiary, the management staff remains in dynamic discussion with a variety of South Oriental financial facilities to risk-free calculated financial obligation funding at desirable expressions with low-interest fees.

“As we get on timetable to continue to the list below degrees, the advancement permit authorization is a substantial stimulant that provides a beneficial location to attract the very best calculated financial investments and also furthermore acts as a symbolic landmark to our venture growths. We objective to deliver succeeding info that strengthens each our venture and also financial location to produce crucial well worth for our investors,” stated Mr. Spencer Huh.

Along with calculated financial investments, South Oriental governmental non-dilutive funding from unskilled and also clear expertise insurance plan will be concentrated, and also NEO Battery Products will certainly work together and also function in addition to the Gyeonggi District to risk-free diverse financing options. In July 2020, the government authorities presented the Oriental New Bargain to aid unskilled facilities and also advancement in unskilled markets, infusing approximately 135 billion USD to produce 1.9 million tasks by 2025. Also, each government and also rural South Oriental federal governments are producing added insurance plan to motivate carbon nonpartisanship and also zero-emission efforts.

Concerning NEO Battery Products Ltd.
NEO Battery Products Ltd. is a Vancouver-based company targeted on electric car lithium-ion battery materials. NEO has a focus on creating silicon anode materials by its exclusive single-step nanocoating program of, which provides improvements in capacity and also efficiency over lithium-ion batteries making use of graphite of their anode materials. The Company means to become a silicon anode dynamic materials company to the electric car organization. For added details, please most likely to the Company’s internet site at: https://www.neobatterymaterials.com/.

In support of the Board of Administrators
Spencer Huh
Head Of State and also Chief Executive Officer
604-355-6463
shuh@neobatterymaterials.com

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