Mr. Spencer Huh reports

NEO BATTERY MATERIALS COLLABORATES WITH ELEMENTIUM MATERIALS LEVERAGING ADVANCED ELECTROLYTE TECHNOLOGY

Neo Battery Materials Ltd. has entered into a collaboration agreement with Elementium Materials Inc., an advanced battery electrolyte technology company, on March 31, 2025.

• Collaboration agreement with Elementium Materials, an advanced electrolyte technology company;
• Using Elementium's advanced electrolytes to enhance Neo's silicon battery platform for specialty commercial battery cells:
  • Specialty downstream markets include power tools, humanoid robots, drone/UAV (unmanned aerial vehicle) and aerospace systems.

As one of the four core battery components, electrolytes serve as the medium of transport for lithium ions between the anode and cathode during charging and discharging. While traditional electrolytes face corrosion, oxidation and toxic gas formation issues, Elementium has engineered advanced electrolyte formulations to enhance battery stability, material robustness and safety.

Under the terms of the agreement, Neo will apply Elementium's advanced electrolytes to its silicon battery platform for use in specialty commercial applications. The primary goal for collaboration is to improve electrochemical performance metrics, especially ultrafast charging and discharging capabilities. This initiative is part of Neo's broader strategy to identify complementary technologies that enable silicon battery integration into a wider range of downstream markets.

Spencer Huh, chief executive officer and president of Neo, expressed: "High-demand, emerging downstream markets -- such as power tools, humanoid robots, drone/UAV and aerospace systems -- require high-specification batteries in which silicon anodes and advanced electrolytes are indispensable components. Through this collaboration, Neo and Elementium are confident to deliver solutions that address these increasingly stringent performance needs."

Dr. Matthew Dawson, CEO of Elementium, commented: We're seeing strong market demand for high-performance silicon anode batteries. Elementium's next-generation electrolyte unlocks the incredible potential of silicon batteries, and we are pleased to partner with Neo, one of the world's leading silicon anode suppliers."

About Elementium Materials Inc.

Elementium is a leading battery materials company focused on developing and scaling novel electrolyte formulations for advanced lithium-ion chemistries. The company's proprietary non-carbonate electrolytes are engineered to deliver enhanced safety, stability and compatibility with emerging anode and cathode materials, including silicon, manganese-rich and high-nickel electrodes. Based in Boston, Mass., Elementium partners with leading battery manufacturers and global battery end-users to accelerate the transition to high-performance, cost-effective, domestically manufactured energy storage solutions.

About Neo Battery Materials Ltd.

Neo Battery Materials is a Canadian battery materials technology company focused on developing silicon anode materials for lithium-ion batteries in electric vehicles, electronics and energy storage systems. With a patent-protected, low-cost manufacturing process, Neo Battery enables longer-running and ultrafast charging batteries compared with existing state-of-the-art technologies. The company aims to be a globally leading producer of silicon anode materials for the electric vehicle and energy storage industries.

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