Mr. Spencer Huh reports

NEO BATTERY AND UNIVERSITY OF TORONTO AWARDED MITACS FUNDING TO ACCELERATE HIGH-POWER & NON-FLAMMABLE BATTERY TECHNOLOGY

In collaboration with the University of Toronto, Neo Battery Materials Ltd. has been granted a multiyear, non-dilutive $180,000 research investment through the Mitacs Accelerate program to advance high-power, niobium-based lithium batteries for defence and industrial systems.

The strategic project, titled "Rational Design of Nb-Based Multi-Transition-Metal Oxide Anodes for Fast-Charging, High-Safety Lithium-Ion Batteries," will be conducted in co-operation with the University of Toronto's Department of Mechanical and Industrial Engineering. Directed by Dr. Patrick Lee, professor of mechanical engineering and senior scientific adviser of Neo and the Multifunction Composite Manufacturing Laboratory, this initiative focuses on developing niobium-based lithium batteries engineered for ultrafast power delivery and non-flammability to serve both defence and industrial applications.

Neo's targeted end-use applications for the technology include defence submarines/unmanned underwater vehicles, short-range ballistic missiles and battery backup units for AI data centres. To help accelerate the path toward commercialization, Neo intends to validate all materials developed under the project by manufacturing large-format battery cells and, in conjunction with end-use system partners, conducting continued product testing under field-use conditions.

The project, which leverages the expertise of the University of Toronto's Department of Mechanical and Industrial Engineering, supports Neo's expansion strategy to diversify its high performance battery technology portfolio into key growth markets and to advance the company's goal of building a sovereign defence and energy supply chain in North America.

Dr. Lee commented: "Niobium-based battery materials are highly promising for applications that require fast charging, high power and improved safety. Through this collaboration, we are excited to work with Neo Battery through this Mitacs-supported project to advance Canada's homegrown lithium-ion-battery technologies for defence and industrial energy storage applications."

"This Mitacs award allows us to pursue a complementary battery platform alongside our high-energy silicon anode portfolio using non-dilutive capital and specialized academic expertise," said Spencer Huh, president and chief executive officer of Neo. "Commercializing high power density and non-flammable chemistries will address increasing needs in both defence and grid-scale power. With the University of Toronto, we will collaboratively work to translate material innovations into practical cell designs for agile integration into active systems."

About Neo Battery Materials Ltd.

Neo Battery Materials is a Canadian-South Korean battery technology company focused on developing and producing silicon-enhanced lithium-ion batteries in drones, robotics, physical artificial intelligence, electric vehicles and energy storage systems. With a patent-protected, low-cost silicon manufacturing process, Neo Battery enables longer-running and ultrafast-charging properties, and provides end-to-end battery solutions from material selection, cell architecture and process optimization. The company aims to be a globally leading producer of high performance lithium-ion batteries and materials, building a secure, robust battery supply chain for western manufacturers.

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