Earlier this year, Canada claimed the top spot on BloombergNEF’s Global Lithium-Ion Battery Supply Chain Ranking, surpassing China as the leader in creating a secure, reliable, and sustainable lithium-ion battery supply chain.
Toronto-based NEO Battery Materials, a developer of cost-effective silicon anode materials for longer-lasting, fast-charging lithium-ion batteries, is building on this momentum. The company has entered into a preliminary agreement with a Canadian municipality to lease approximately 8 acres of land for a new commercial manufacturing facility. Details, including the exact location and lease terms, will be released once a formal agreement is finalized.
NEO aims to construct a multi-building manufacturing facility on the 8-acre (350,000 square feet) site to produce silicon anodes for lithium-ion batteries, primarily for use in electric vehicles (EVs) and electronics. The facility is expected to have an annual production capacity of 5,000 tons, providing the infrastructure needed to meet growing demand in North America’s battery and EV markets for high-performance, low-cost anode materials.
Canada’s battery ecosystem is rapidly expanding and will soon include major players such as NextStar Energy (LG Energy Solution & Stellantis Joint Venture), PowerCo (Volkswagen’s Battery Arm), Northvolt, and E-One Moli Energy.
Spencer Huh, Director, President, and CEO of NEO, shared his thoughts: “We are pleased to have reached this LOI with the municipality after months of discussions. This aligns with our strategy to commercialize in Canada, where government support and policies strongly back battery and energy storage projects. As Canada’s EV ecosystem grows, we aim to accelerate zero-emission vehicle adoption by producing affordable silicon anode materials.”