NEO Battery Materials

Toronto-based NEO Battery Materials has been selected as a consortium partner in a $20 million recycled silicon battery project led by South Korea’s Ministry of Trade, Industry, and Energy (MOTIE).

The initiative, titled “Recycled Silicon-Based High Energy Density Electrode Manufacturing Technology Development,” aims to advance sustainable silicon anode materials for longer-lasting, rapid-charging lithium-ion batteries.

The five-year project is funded by MOTIE and the Korea Evaluation Institute of Industrial Technology (KEIT) and involves leading companies across the battery value chain. Hansol Chemical, a major South Korean chemical firm, spearheads the consortium, joined by INNOX eco-M, South Korea’s largest cathode materials producer, and battery developer LiBEST. NEO will contribute as a downstream participant.

A key focus of the project is utilizing silicon scrap from semiconductor and photovoltaic wafer production to address waste material limitations. Consortium partners aim to enhance the affordability, performance, and sustainability of silicon anodes, a critical component for next-generation batteries.

NEO’s role will involve optimizing recycled silicon inputs and collaborating with partners to develop high-content silicon anode batteries. The initiative aligns with the company’s strategic goal of securing low-cost, high-performance silicon feedstock.

Spencer Huh, NEO’s President and CEO, emphasized the importance of material circularity and supply chain resilience. “With approximately 900 tons of waste silicon produced annually in South Korea, all consortium partners are motivated to develop effective technologies to recycle and reuse all waste generated moving forward,” he said.

This partnership represents a significant step for NEO in advancing its silicon anode technologies and contributing to a more sustainable battery industry.

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.”