NEO Battery Materials Ltd.

09:44 AM EST - NEO Battery Materials Ltd. : Announced the initiation of a pilot plant project whereby NEO intends to use in house resources to design and test equipment that will use NEO's single-step silicon (Si) nanocoating process. Spencer Huh, President and CEO of NEO, commented, "We are pleased to announce that Dr. J. H. Park, Director and Chief Scientific Advisor of NEO, and Mr. Suk Joong Hwang, Member of the Company's Scientific Advisory Board, have initiated the design of the pilot plant project. NEO's team of scientists have also started to test and validate an equipment that will be used in the project by attempting to apply NEO's all solution based one-pot nanocoating technology for commercial-level micron-sized Si materials. This research project has been launched at the request of several lithium-ion battery users." Dr. Park also added "The feasibility study and related preliminary works to optimize the design process will be updated shortly.” NEO Battery Materials Ltd. shares V.NBM are trading unchanged at $0.35.

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