NEO Battery and established South Korean manufacturer, NainTech, to co-develop drone & stationary energy storage batteries

NEO Battery Materials Ltd., a low-cost, silicon-enhanced battery materials and components developer that enables longer-running, rapid-charging lithium-ion batteries, is pleased to enter into a Joint Development Agreement (JDA) with NainTech Co., Ltd., a South Korean manufacturer specializing in battery & fuel cell technology and semiconductor & display precision equipment. Both parties will co-develop (i) sodium-ion battery technology for energy storage systems (ESS) and (ii) high-performance lithium-ion batteries with MXene additives.

Through the JDA, NEO and NainTech will collaborate closely on both drone and stationary energy storage technologies. Sodium-ion batteries (SIB) will be the first development focus for integration in ESS for (i) artificial intelligence (AI) data centres and (ii) power grid storage. SIBs have gained recognition as the de facto alternative to lithium-ion batteries for energy storage, benefiting from greater resource availability and lower costs. NEO will support NainTech in developing and manufacturing SIB electrodes and full battery cells, guiding prototype design through to commercial-level deployment.

For drone applications, NainTech’s proprietary additives, Titanium-based MXene, will be incorporated into NEO’s silicon anode products and high-performance battery designs to improve electrical conductivity – a critical factor to enable longer flight times, heavier payloads, and high-power maneuvers in drones and unmanned systems (UAS). MXenes are 2-dimensional materials that can outperform the conductivity of commercial graphene by one order of magnitude.

NainTech is a publicly-listed, South Korean company with distinctive competitiveness in the field of batteries and fuel cell technology, semiconductor and display precision equipment, and advanced function materials. Based on quality-driven manufacturing capabilities and continuous nanomaterial innovation, NainTech has achieved threefold growth over the past two years, reaching a market capitalization of CAD 200 million (KRW 200 billion) and annual revenues of CAD 200 million as of fiscal year 2024. NainTech is also a tier-1 value chain vendor for LG Energy Solution and leading global rechargeable battery manufacturers. NainTech further supplies advanced production equipment for lithium-ion batteries, positioning itself as a key partner within the global battery value chain.

Mr. Spencer Huh, President & CEO of NEO, commented, “This co-development partnership with NainTech is another major step for NEO’s evolving business model. By expanding into electrode and cell design for SIB technology, while leveraging NainTech’s nanomaterial innovation like MXene, we are advancing comprehensively for battery innovation. Sodium will offer a more affordable and scalable solution to the energy storage bottleneck, and MXene-enhanced batteries will allow drones and UAS to realize full performance requirements.”

Mr. Eric Park, President & CEO of NainTech, stated, “With our expertise in precision equipment manufacturing and material innovation, NainTech and NEO will produce synergies and deliver end-to-end solutions for new, rising sectors such as AI data centres, power grid storage, and drone/UAS. With NEO’s unique capabilities in battery design and advanced anode materials that complement NainTech’s technology roadmap, we look forward to jointly serving commercial battery solutions for various downstream markets.”