Neo receives battery POs for "near-term delivery"

Executive Summary

• Neo Battery Materials Ltd. has received its first purchase orders for near-term delivery from a Fortune Global 500 Asian automotive original equipment manufacturer (OEM).
• The orders were issued through EnPlus Co. (EN+), acting as a temporary intermediary, and represent the company's first commercial sales.
• Manufacturing is already underway at Neo’s new operational facility in Gimje, South Korea, with shipments planned upon completion and revenue expected in the short term.

Key Details

• Customer: Fortune Global 500 Asian automotive original equipment manufacturer (OEM).
• Intermediary: EnPlus Co. (EN+), coordinating commercial supply with the OEM.
• Product: Lithium-ion battery orders (specifically silicon-enhanced battery components and cells).
• Production Status: Manufacturing is currently under way; bench-scale products have been contracted to support the OEM's qualification and evaluation activities.
• Facility: Production is executed at Neo's new operational battery manufacturing facility in Gimje, South Korea, leased under a definitive agreement announced on Nov. 25, 2025.
• Capabilities: The facility possesses commercial-scale electrode and high-capacity pouch cell production capabilities, allowing for immediate production without new construction or commissioning delays.
• Financial Impact: Orders represent Neo's first commercial sales; revenues are expected to be recognized upon delivery in the short term.
• Strategic Significance: Successful delivery marks the company's first commercial output and a major milestone toward full commercialization in the automotive sector.

Notable Quotes

• "We are pleased to initiate commercial production with a global automotive OEM partner through EN+. These orders provide an opportunity to demonstrate our manufacturing capability in producing industry-grade battery components and cells. As we work toward commercial output in the automotive sector, we will continue advancing silicon-enhanced battery production and expanding our downstream market pipeline." — Seok Joung Youn, Head of Manufacturing and Facility Operations, Neo Battery Materials Ltd.