NEO Battery Materials, a developer of low-cost silicon anode materials for longer-running, rapid-charging lithium-ion batteries, has signed a definitive lease agreement with the City of Windsor, Ontario, Canada.
This step represents significant progress in establishing Canada’s first advanced silicon-anode manufacturing facility, poised to support the EV battery value chain.
Situated in one of Canada’s key automotive and battery manufacturing hubs, NEO will lease eight acres (350,000 square feet) to build a commercial plant capable of producing 5,000 tons of silicon anodes annually, meeting growing demand from EV manufacturers.
NEO plans an initial investment of CAD 69 million, with projections of $120 million in total investment over the next eight years for facility expansion and value-added projects. This development is expected to create over 100 skilled jobs and bolster efforts to reduce dependence on imported materials, strengthening the EV battery supply chain across Ontario and North America.
The agreement, which includes a 49-year term, offers tax incentives and favorable lease terms as part of Windsor’s commitment to advancing battery technology and economic growth. Windsor City Council has also approved, in principle, a grant for NEO to support its operations through a Community Improvement Plan.
By establishing its first North American facility in Windsor, NEO highlights the region’s strategic importance, robust infrastructure, and skilled workforce in driving innovation for the EV industry.
Filed Under: Batteries, Technology News