Mentioned:
A publicly traded company in Canada wants to be on the leading edge of battery development for military missions. And they’re just struck a new deal in the Republic of Korea to do it.
What’s happening:
- NEO Battery Materials (TSXV: NBM) has entered into a defense technology partnership with the Republic of Korea’s Army’s Capital Mechanized Infantry Division to jointly develop high energy, high power batteries
Why it matters:
- The new battery technologies being co-developed by the Army’s Capital Mechanized Infantry Division and NEO Battery Materials will be directly used in military drones and unmanned systems
Going deeper:
- The Army’s Capital Mechanized Infantry Division will also immediately begin implementing NEO Battery Materials’ existing high performance batteries into drones being used for training and field testing
- NEO Battery Materials has publicly stated they are aiming to become one of the leading suppliers of high performance lithium-ion batteries for drones, unmanned systems and robotics throughout the Republic of Korea and is currently building out a large scale commercial production facility located in Gimje, South Korea
