A Canadian-headquartered battery manufacturer announced a major advancement in the capacity of its storage products, saying they now surpassed those of Chinese rivals that dominate the sector. NEO Battery Materials said in a release first shared with Semafor that its drone batteries achieved a 50% capacity improvement over similar products made by competitors, and said its efforts were key to “addressing critical supply chain concentration and security concerns.” The company says it is making inroads with potential military clients, including the South Korean government — Seoul’s defense sector is among the world’s biggest — and is rolling out products for automotive customers, too. The global energy storage sector is dominated by Chinese companies, notably battery maker CATL and EV giant …
A Canadian-headquartered battery manufacturer announced a major advancement in the capacity of its storage products, saying they now surpassed those of Chinese rivals that dominate the sector. NEO Battery Materials said in a release first shared with Semafor that its drone batteries achieved a 50% capacity improvement over similar products made by competitors, and said its efforts were key to “addressing critical supply chain concentration and security concerns.” The company says it is making inroads with potential military clients, including the South Korean government — Seoul’s defense sector is among the world’s biggest — and is rolling out products for automotive customers, too. The global energy storage sector is dominated by Chinese companies, notably battery maker CATL and EV giant BYD, with the country’s energy storage association reporting a 144% increase in orders in 2025 compared to the prior year, amplifying concerns among Western customers of growing reliance on the country.