NEO Battery Materials announces $392,000 order from Fortune 500 automaker

NEO Battery Materials Ltd. has received a $392,000 purchase order from an existing North American Fortune 500 automotive manufacturer.

The Toronto-based battery company says the order is one of its largest contracts to date for foundry manufacturing. The company said the order follows several months of work with the automaker to assess its battery manufacturing processes.

NEO Battery Materials also said it has received UN 38.3 certification for its 11.5Ah lithium-ion battery cell, allowing the product to be shipped internationally.

The company said it plans to ship the battery cells to customers in the United States, Ukraine, Canada and Europe for sampling and commercial testing.

NEO Battery Materials develops and manufactures silicon-enhanced lithium-ion batteries for applications including drones, robotics, electric vehicles and energy storage.