November 16, 2023

NBM Certified as Innovative Growth Venture Enterprise by South Korea's Ministry of SMEs and Startups

Disseminated on behalf of Neo Battery Materials. 
July 12, 2024

NBM Certified as Innovative Growth Venture Enterprise by South Korea's Ministry of SMEs and Startups

NEO Battery Materials Ltd., a leading developer of low-cost silicon anode materials for lithium-ion batteries, is delighted to announce that NBM Korea Co. (NBMK), its subsidiary, has received official certification as an Innovative Growth Venture Enterprise under South Korea's Ministry of SMEs and Startups. This prestigious designation, achieved after rigorous evaluation, places NBMK in the most stringent classification among the four certification categories. In this article, we delve into the significance of this certification and the benefits it offers to NBMK and the South Korean investment landscape.

Innovative Growth Venture Enterprise Certification

Among the four categories of Venture Enterprise certification, Innovative Growth stands out as the most demanding and exclusive. To qualify for this classification, a company must demonstrate exceptional technological innovation, competitiveness, expertise, and growth potential. NBMK successfully met these stringent criteria, solidifying its position as a high-quality venture company in South Korea.

Benefits of Certification

NBMK's Innovative Growth Venture Enterprise Certification opens the door to a host of benefits and advantages:

  1. Tax Reduction: Certified enterprises are eligible for various tax reductions, providing a financial incentive for further growth and development.
  2. Financial Support: Access to government-backed financial support programs can significantly bolster NBMK's financial stability and expansion efforts.
  3. Technical Expertise Support: The certification includes access to technical expertise support, which can enhance NBMK's research and development capabilities, furthering its innovative contributions to the industry.
  4. Increased Patent Protection: The certification status can lead to increased patent protection, safeguarding NBMK's intellectual property and innovations.
Access to Institutional Investors

One of the key advantages of achieving Venture Enterprise Certification is the newfound ability to attract South Korean institutional investors. With the backing of the South Korean government, NBMK is now better positioned to secure financing from institutional investors who recognize the value and potential of certified innovative growth ventures.

Rigorous Evaluation Process

The certification process is no easy feat, as it involves thorough due diligence and assessment. Experts and officials meticulously evaluate the applying company using more than 15 evaluation criteria. These criteria encompass various aspects, including technology innovation impact, business model and plan, market competitiveness, managerial expertise, on-site visits, and document reviews. NBMK's successful certification is a testament to its excellence in these areas.

About NEO Battery Materials Ltd.

NEO Battery Materials Ltd. is a Canadian battery materials technology company dedicated to the development of silicon anode materials for lithium-ion batteries used in electric vehicles, electronics, and energy storage systems. The company's proprietary, cost-effective manufacturing process sets it apart, enabling the creation of longer-lasting, rapid-charging batteries compared to current state-of-the-art technologies. NEO Battery Materials is currently constructing its first commercial plant in South Korea with the aim of becoming a global leader in silicon anode materials production for the electric vehicle and energy storage industries.


NBM Korea Co.'s achievement of Innovative Growth Venture Enterprise Certification is a significant milestone, highlighting its dedication to technological innovation and business growth potential. The benefits conferred by this certification, including tax reductions, financial support, technical expertise, and increased patent protection, position NBMK for further success and development. Additionally, the ability to attract institutional investors adds another dimension to its growth prospects. As a subsidiary of NEO Battery Materials Ltd., NBMK's success is a testament to the company's commitment to advancing battery technology and contributing to the sustainable future of energy storage.


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