NEO Battery Gets South Korean Defense Prime and Tier-1 Battery Pack Company Contract

09:18 AM EDT, 10/27/2026 (MT Newswires) -- NEO Battery Materials (NBM.V) has been contracted by a South Korean defense prime and tier-1 battery pack company to develop and manufacture custom-built, high-performance batteries for an undisclosed defense project, it said Tuesday. The company will supply under the A-sample phase, initial battery prototypes for electrochemical and mechanical testing to verify performance and quality against the project's needs, it said. It expects the program to progress to larger pilot orders with B-sample manufacturing and evaluation, followed by subsequent volume production upon successful evaluation of A-samples, it added. NEO Battery believes the contract advances its Korean Defense Integration Strategy as a "flexible, domestic" cell partner supplying qualified battery products to established defense contractors. "Working with a major defense prime and an established pack manufacturer has formed another pathway into the Korean defense supply chain. NEO's engineering and manufacturing team are focused on fulfilling the customers' validation requirements and supporting the program through its next phases as a potential anchor vendor," chief executive Spencer Huh said. Shares of the company closed up CA$0.005, or 3.6%, to CA$0.145 Monday on the TSX Venture Exchange.