NEO Battery Materials Partners With Korean Drone Maker Preneu

09:03 AM EDT, 09/29/2026 (MT Newswires) -- NEO Battery Materials (NBM.V) entered into a joint development agreement with a South Korean drone systems and components manufacturer, Preneu Co., to develop high-energy batteries optimized for Preneu's drone platforms, it said in a statement on Tuesday. The parties have executed a letter of intent (LOI) to collaborate on market entry and business expansion in Canada, it said. NEO and Preneu will also cooperate to secure local customers, wholesalers, and system integrators and pursue government contracts from various agencies, it said. Separately, NEO also said it closed the strategic stock purchase agreement of its operating unit, NEO Battery Materials Korea Co., Ltd., with Automobile & PCB. Shares of NEO Battery closed down 5.9% to CA$0.16 on Monday on the TSX Venture Exchange.