noco-noco and Neogen Forge Strategic Partnership to Unleash X-SEPA Technology in India's Burgeoning Battery Market (Projected to Exceed US$16 Billion by 2031)
Singapore, March 08, 2024 (GLOBE NEWSWIRE) -- Highlights:
- Neogen secured a 3-year marketing and distribution license for noco-noco's X-SEPA technology with the eventual objective to manufacture X-SEPATM separators in India.
- The combined technological synergies blending noco-noco's revolutionary X-SEPA separator technology with Neogen's electrolyte, will provide pioneering solutions to a wider clientele.
- noco-noco (NASDAQ: NCNC), aims to swiftly penetrate the rapidly growing Indian electric mobility and energy storage market leveraging on Neogen's expansive customer network in India’s battery manufacturing sector.
Singapore/India, 7th March 2024 – At the recent 2024 International Rechargeable Battery Expo in Tokyo, Neogen Ionics (India) Ltd, (“Neogen”), a wholly owned subsidiary of Indian listed company, Neogen Chemicals Ltd (NSE: NEOGEN), showcased a range of product offerings for rechargeable batteries and notably, the groundbreaking X-SEPATM separator from noco-noco Inc., in a successful exhibition which garnered significant attention and substantial interests.
Earlier in January this year, Neogen and noco-noco Pte. Ltd., (“noco-noco”), a wholly owned subsidiary of noco-noco Inc. (Nasdaq: NCNC), formalized a strategic marketing and distribution memorandum. This agreement paves the way for the introduction of noco-noco's revolutionary X-SEPA battery separator technology into the Indian market, with the ultimate goal for Neogen to manufacture X-SEPATM separators domestically.
The alliance aims to harness X-SEPA's exceptional performance capabilities to fuel growth in India's energy storage ecosystem and electric mobility segment.
Rechargeable Battery Expo, Tokyo: Neogen Ionics and noco-noco(via noco-tech) collaborates to showcase and market X-SEPATM
From left Kawai San (noco-noco), Mr Mehta (Neogen), Ms Kadam (Neogen), Moriya San (noco-noco).
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Accelerating Market Entry Across a Wide Spectrum of Applications
Over the next three years, noco-noco will collaborate with Neogen as a trusted strategic partner to market and distribute X-SEPA products and technology in India. This partnership aims to expedite market penetration and establish a strong presence in the Indian energy storage market and electric mobility market. Leveraging Neogen's extensive customer network of cell and battery manufacturers nationwide, noco-noco seeks to accelerate the adoption of X-SEPA technology across India.