NEO Battery Materials, a developer of low-cost silicon anode materials for lithium-ion batteries, is in the process of establishing a US subsidiary called NBM America. The new subsidiary, which will be fully owned by NEO Battery Materials, will actively seek expansion opportunities in the US, including the company’s core silicon anode business and new value-added projects in the battery materials industry. The first phase of the US business expansion plan will include the addition of an Ohio R&D Center and office.
NBM America will begin active business development to enter the US market for the core silicon anode business and will concurrently evaluate new battery materials projects. The subsidiary will allow closer interaction with US-based non-disclosure agreement (NDA) parties to expedite business and collaborative activities, and additional manpower will be supplemented to support this expansion.
As a private company, NBM America will focus on securing funding opportunities from state-level programs to federal-level initiatives, such as the “Inflation Reduction Act” and Department of Energy funding. The subsidiary will also target accessing the large pool of US venture capital funding that focuses on cleantech thematic investing and strengthening EV infrastructure.
Ohio has been recognized as a strategic hub for the growing US battery supply chain. The state currently provides a favorable business environment for foreign companies, especially for those in the battery supply chain such as NEO Battery Materials. With recent investments from major players like Ultium Cells, a joint venture between LG Energy Solution and General Motors, and LG Energy Solution and Honda, Ohio is poised to become a major player in the battery industry. NEO has initiated communication with the state of Ohio, and the company will continue with the necessary proceedings with NEO’s advisor in Ohio.
