Neo Battery Materials (NBM.V) Joins To MOU With Ferroglobe

The stock of Neo Battery Materials (NBM.V), after increasing remarkably from C$0.3200 on June 22 to C$0.9300 on June 28, price decreased to C$0.7400 on July 2. Having dramatically risen from C$0.7400 to C$1.1700 on July 7 and then stock fell to C$0.9900 on July 12, the price leveled off approximately C$0.1000 to July 14. Finally, after declining from C$0.1000 to C$0.7800 on July 16, the price climbed and finished at C$0.8400 on July 19.
On July 19, Neo Battery Materials (NBM.V) reported that the company joined to Memorandum of Understanding (MOU) with Ferroglobe Innovation (FGI), by Ferroglobe PLC, a subsidiary of NASDAQ, one of the global providers of silicon metal, special alloys and ferroalloys based on silicon and manganese. Both companies entered into a non-disclosure agreement in April and advanced discussions on the development of silicon powders and anodes materials.

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Parties intend to seek synergies and mutual benefits through technology pooling NEO silicon nanocoatings and FGI silicon materials to optimize electrochemistry, performance, and cost of silicon powder and anode materials in lithium-ion batteries, according to the terms of the Memorandum. Increasing profitable productive capacities for silicon downflow streams is a priority and an essential condition for the full introduction of silicon anodes in electric vehicles and energy storage solutions.

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