NEO Battery Materials (NBM.V) has launched a high-energy density battery cell, the 21700 cylindrical cell, aimed at drone/UAV and robotics manufacturers, the company said on Thursday.
The battery comes in "standardized cell format offerings" and can be adopted as a direct replacement in existing systems while extending operational runtime or endurance. NEO expects to start production by the end of this year, with pre-commercial capacity of 360,000 cells annually, the company said.
NEO will also open 21700 manufacturing capacity for contract manufacturing and custom cell development and commercialization, serving US and NATO defense and battery companies.
The 21700 cylindrical cell was this week awarded the top prize in the Innovation Award category at the K-Battery Show, one of South Korea's largest lithium-ion battery exhibitions, a statement added.
NEO shares were last seen up CA$0.005 at CA$0.17 on the TSX Venture Exchange.
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