Canada-based NEO Battery Materials has signed a four-year offtake agreement and a joint development agreement (JDA) with a North American lithium-ion battery company specializing in performance-intensive, specialty applications, including unmanned aerial systems (UAS), drones and defense-related mobile systems.
Under the offtake deal, the customer has committed to a total purchase volume of 50 tons of NEO’s silicon anode materials, NBMSiDE P-200 and P-300N. NEO expects to start supplying the initial P-200 and P-300N materials from 2026.
Annual volumes are subject to production capacity and availability, qualification milestones and the operating deployment needs of the customer’s products. The price for the silicon anode materials will be determined through a mutually agreed-upon pricing structure based on prevailing raw material and processing costs at the time of each supply, NEO said.
The JDA further establishes a collaborative framework in which NEO will supply its P-200 and P-300N silicon anodes for evaluation and validation within the customer’s lithium-ion and lithium-polymer battery cells.
Both companies will jointly develop and optimize battery performance via system-integrated field tests in UAS and drones. The customer will manufacture battery cells with various chemistries and cell formats, and NEO will adjust its silicon battery technology based on feedback data, including its specific energy in Wh/kg, safe charging and discharging rate capability, as well as power output.
NEO Battery Materials is progressing with its initiative to expand its silicon anode production to 20 tons per year, following the positive validation of recent prototypes and direct demand for its materials from end users.
The company plans to scale up production to 240 tons per year to meet downstream demand and to support the company’s in-house battery manufacturing business. NEO is conducting due diligence to lease an operational, revenue-generating commercial facility to produce customized batteries for its drone, UAS, robotics and automotive pipelines.
“This offtake and JDA represent another critical milestone in the commercialization of NEO’s silicon battery technology, as we expand into synergistic, revenue-potential verticals of battery design and manufacturing. By partnering with a North American battery company, we are advancing our mission to establish a robust and high-quality North American battery supply chain. For the Western world, our company aims to become the go-to alternative for high-performance battery materials and components to any end-use application,” said Mr. Spencer Huh, President and CEO of NEO.
Source: NEO Battery Materials
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