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NEO Battery Materials Ltd., a low-cost silicon anode materials developer that enables longer-running, rapid-charging lithium-ion batteries, has signed a memorandum of understanding (MOU) with the University of Windsor to establish a strategic partnership focused on advancing new battery and energy storage technologies in Canada’s electric vehicle (EV) ecosystem.
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“We are pleased to announce this strategic partnership,” said Dr. Shanthi Johnson, the University of Windsor’s vice-president, research and innovation.
“Our institution has a proven commitment to pursuing bold, impactful research in collaboration with industry. This partnership with NEO Battery Materials is an example of that commitment with tangible benefits to the EV sector, the Canadian economy, and society as a whole.”
Originally headquartered in Vancouver, Neo Battery is now Ontario-based and has operations in South Korea.
The NEO Battery agreement is the latest partnership in a growing number the university has forged with an automotive sector that is transitioning into electrification.
In May, the university announced it would be the home of a new office for the Automotive Parts Manufacturers’ Association.
The school is also partnering with LG’s NextStar Energy Solution battery plant and its co-parent Stellantis and its Automotive Research and Development Centre, as well having long standing research agreements with Ford Motor Co., General Motors and Magna International among others.
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The partnership will take advantage of provincial or federal funding programs for industry-academia joint development. NEO will work with researchers in Windsor’s Faculty of Engineering.
The partnership will aim to leverage the synergies between industry and academia to create intellectual property, drive innovation and competitive advantages in battery and sustainable mobility technologies, to help develop talent, promote research and achieve commercialization pathways.
The focus of the projects will be on optimizing silicon anodes, improving energy storage, fabricating multi-layer lithium-ion battery cells and developing novel component materials.
The agreement with the university is part of a grand plan for Neo Battery’s plan to expand its presence in the Canadian battery supply chain.
In a newsletter to shareholders issued July 30 and posted on Neo Battery’s website (neobatterymaterials.com), company CEO/President Spencer Huh updated investors on the company’s five-pillared strategy for 2024, which includes establishing its first Canadian production/research and development plant.
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“As discussed in Pillar 4 – Mass Production Plans and Inclination Towards Canadian Operations, the Canadian government introduced aggressive policies to attract investment from the EV and battery sectors,” Huh wrote.
“To serve the best interest of our shareholders, NEO has decided to initiate mass production plans in Canada. We are in late-stage discussions with an undisclosed Canadian region to finalize the location and land.
“We plan to approach our pathway-to-commercialization in a capital-efficient and risk-reduced manner. Therefore, NEO will prioritize product optimization (i.e., silicon modification, graphite anode testing, and full cell testing), establish advanced commercial agreements with testing partners, and then build capacity increases in Canada.
“We will update our commercialization plans and timelines in a separate news release.”
Dwaddell@postmedia.com
Twitter.com/winstarwaddell
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