Mr.
As per the news released on
In addition to the completion of the Basic Engineering Design Data (BEDD), the Configuration and Equipment of major production processes for NEO's one-pot nanocoating technology have been confirmed and finalized. This report has allowed the Company to determine the required Raw Materials and Utility to accommodate for the annual production of 120 tons, and guidelines for health, safety, and environment (HSE) for the facility have been presented within the report.
Dr.
NEO will now immediately commence the Engineering EPC (Engineering, Procurement, and Construction) stage for the construction of the semi-commercial plant. The Company expects the plant to be completed and commissioned by the end of 2022. The conceptual design of the facility was carried out in full consideration of scaling up to a full commercial plant, and as the design follows a globally recognized International Code, there will be no restriction or limitation for future commercial plants being built elsewhere such as
'Concerning the site selection of the semi-commercial facility, NEO is currently negotiating with two South Korean provincial governments to find the most suitable and economical option for construction. The Company is considering the benefits provided to foreign-invested companies by the government and the proximity with South Korean battery manufacturers. The initial EPC stage can commence without conflicting with the site selection. We are also in the last stages of establishing the South Korean subsidiary
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Contact:
Tel: 604-697-2408
Email: shuh@neobatterymaterials.com
This news release includes certain forward-looking statements as well as management's objectives, strategies, beliefs and intentions. Forward looking statements are frequently identified by such words as 'may', 'will', 'plan', 'expect', 'anticipate', 'estimate', 'intend' and similar words referring to future events and results. Forward-looking statements are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, the effectiveness and feasibility of technologies which have not yet been tested or proven on a commercial scale, competitive risks and the availability of financing, as described in more detail in our recent securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward-looking statements and we caution against placing undue reliance thereon. We assume no obligation to revise or update these forward-looking statements except as required by applicable law.
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