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NEO Battery Materials Ltd ( (TSE:NBM) ) has provided an announcement.
NEO Battery Materials Ltd. has announced plans to establish Canada’s first advanced silicon anode manufacturing facility on an 8-acre site in Windsor, Ontario. The facility, which will require an initial investment of CAD 69 million and a total of CAD 120 million over eight years, is expected to produce 5,000 tons of silicon anodes annually and create over 100 skilled jobs. By securing a long-term lease with favorable terms and tax incentives, NEO aims to reduce reliance on imported materials and bolster the battery supply chain in Ontario and North America, highlighting the region’s supportive infrastructure and business environment.
More about NEO Battery Materials Ltd
NEO Battery Materials Ltd. is a developer of low-cost silicon anode materials designed to enhance the performance of lithium-ion batteries by enabling longer run times and rapid charging. The company focuses on strengthening the Canadian battery value chain and operates within the battery materials industry.
YTD Price Performance: 27.63%
Average Trading Volume: 479,471
Technical Sentiment Consensus Rating: Sell
Current Market Cap: C$122M
For an in-depth examination of NBM stock, go to TipRanks’ Stock Analysis page.
