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NEO Battery Secures Custom Battery Order from Major Korean Defense Drone Manufacturer

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Secured purchase order from major Korean drone manufacturer for custom-developed battery solutions in strike drone applications for initial performance validationPrimary design objective to reduce overall battery weight to increase flight duration and operational rangeIncreased order flow from the domestic drone industry due to NEO’s ability to resolve performance bottlenecks and diversify to allied defense supply chains

TORONTO, July 30, 2026 /CNW/ — NEO Battery Materials Ltd. (“NEO” or the “Company”) (TSXV: NBM) (OTC: NBMFF), a low-cost, silicon-enhanced battery manufacturer enabling high-performance capabilities for drones, robotics, and physical AI, is pleased to secure a purchase order from a major South Korean drone systems and components manufacturer (the “Customer”), being one of the largest standalone drone companies in the country by revenue.

The Customer has ordered a custom-developed 6Ah high-performance battery solution for initial performance validation through field testing of its upcoming strike drone product line. The cell and pack will be manufactured to Customer specifications, with the primary design objective of reducing overall battery weight to increase flight duration and operational range. NEO expects that its high-energy battery design, combined with precision manufacturing controls, will enable the Customer to meet its targeted endurance requirements. The Company will provide updates as advancements with the Customer occur.

“This order reflects NEO’s ability to develop energy solutions tailored to specific customer requirements and the growing trust within the domestic drone industry that the Company can address performance bottlenecks while diversifying away from concentrated supply chains,” commented Mr. S.J. Youn, Head of Manufacturing & Facility Operations at NEO. “Following delivery, we expect to work through iterative testing and feedback with the Customer to optimize the product for implementation in commercial systems.”

About NEO Battery Materials Ltd.
NEO Battery Materials is a Canadian-South Korean battery technology company focused on developing and producing silicon-enhanced lithium-ion batteries in drones, robotics, physical AI, electric vehicles, and energy storage systems. With a patent-protected, low-cost silicon manufacturing process, NEO Battery enables longer-running and ultra-fast charging properties and provides end-to-end battery solutions from materials selection, cell architecture, and process optimization. The Company aims to be a globally-leading producer of high-performance lithium-ion batteries and materials, building a secure, robust battery supply chain for Western manufacturers. For more information, please visit the Company’s website at: https://www.neobatterymaterials.com/.

On Behalf of the Board of Directors
Spencer Huh
Director, President, and CEO

This news release includes certain forward-looking statements as well as management’s objectives, strategies, beliefs and intentions. All information contained herein that is not clearly historical in nature may constitute forward-looking information. Generally, such forward-looking information can be identified notably by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: volatile stock prices; the general global markets and economic conditions; the possibility of write-downs and impairments; the risk associated with the research and development of battery-related technologies; the risk associated with the effectiveness and feasibility of battery material, electrode, and cell technologies that have not yet been tested or proven on commercial scale or under real-world operating conditions; the risks associated with battery-related manufacturing process scale-up, including maintaining consistent material, component, and cell quality, production yields, and process reproducibility at a pilot, semi-commercial, or commercial scale; the risks associated with compatibility of existing battery chemistries, formulations, components, or designs; unforeseen risks associated with entering into and maintaining collaborations, joint ventures, partnerships, or commercial contracts with battery cell manufacturers, original equipment manufacturers, and various companies in the global battery and downstream end-user supply chain; the risks associated with the failure to develop and produce commercially viable battery-related products or that technical goals may not be achieved within expected timelines or budgets under a joint development or collaboration; the risks associated with the Company’s technologies and products not meeting performance requirements or customer specifications; the risks that prototype and pilot-scale products do not advance into commercially produced products or translate into commercial orders; the risk associated with battery components and cell purchase orders and offtake supply that may not be fulfilled in full, on time, or at all as actual revenue realization depends on delivery schedules, achievement of technical milestones, and customer acceptance and validation; the risk associated with losing official vendor registration or status with existing customers; counterparty risk upon delivery of prototype and commercial products; the risks associated with constructing, completing, securing, and financing pilot, semi-commercial, and commercial battery materials, components, and cell manufacturing facilities including the Canadian and South Korean facilities; the risks associated with potential delays or increased costs with site preparation, equipment procurement and installation, and facility commissioning; the risks associated with integrating silicon anode material production, electrode manufacturing, and cell assembly within a single operational cluster or the Company’s business portfolio; the risks associated with supply chain disruptions or cost fluctuations in raw materials, processing chemicals, and additive prices, impacting production costs and commercial viability; the risks associated with uninsurable risks arising during the course of research, development and production; competition faced by the Company in securing experienced personnel, contracts and sales, and financing; access to adequate infrastructure and resources to support battery materials, components, and cell research and development activities; the risks associated with changes in the technology regulatory regime governing the Company; the risks associated with the timely execution of the Company’s strategies and business plans; the risks associated with the lithium-ion battery industry and end-users’ demand and adoption of the Company’s silicon anode technology and battery products; market adoption and integration challenges, including the difficulty of incorporating silicon anodes and silicon battery products within battery manufacturers and OEMs’ systems; the risks associated with the various environmental and political regulations the Company is subject to; risks related to regulatory and permitting delays; the reliance on key personnel; liquidity risks; the risk of litigation; risk management; and other risk factors as identified in the Company’s recent Financial Statements and MD&A and in recent securities filings for the Company which are available on www.sedarplus.ca. Forward-looking information is based on assumptions management believes to be reasonable at the time such statements are made, including but not limited to, continued R&D and commercialization activities, no material adverse change in precursor, raw material, equipment, and relevant cost prices, development and commercialization plans to proceed in accordance with plans and such plans to achieve their stated expected outcomes, receipt of required regulatory approvals, and such other assumptions and factors as set out herein. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such forward-looking information. Such forward-looking information has been provided for the purpose of assisting investors in understanding the Company’s business, operations, research and development, and commercialization plans and may not be appropriate for other purposes. Accordingly, readers should not place undue reliance on forward-looking information. Forward-looking information is made as of the date of this presentation, and the Company does not undertake to update such forward-looking information except in accordance with applicable securities laws.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE NEO Battery Materials Ltd.

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Extropic Signs $75 Million Letter of Intent with U.S. Department of Commerce to Scale and Onshore Thermodynamic Computing

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July 30, 2026

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Planned CHIPS R&D funding to scale Extropic’s Thermodynamic Sampling Units for AI workloads and fabricate them at an American foundry.

SAN FRANCISCO and WALTHAM, Mass., July 30, 2026 /PRNewswire/ — Extropic, the American company pioneering thermodynamic computing hardware, today announced the signing of a letter of intent with the U.S. Department of Commerce for up to $75 million in funding through the CHIPS Research and Development Office (CRDO). The planned funding is expected to accelerate the development of Thermodynamic Sampling Units (TSUs), an entirely new category of semiconductor purpose-built for probabilistic AI workloads, and qualify a domestic manufacturing path for the technology.

TSUs use the natural thermodynamic fluctuations of standard CMOS transistors to sample directly from programmable probability distributions in a power-efficient manner, a capability useful for generative AI, simulations of biology, markets, and beyond. The same capability extends to probabilistic inference for physical intelligence and defense, where robots, autonomous systems, and sensor platforms must reason under uncertainty in real time on tight power budgets. On key generative-AI workloads, TSUs can achieve energy-efficiency gains of orders of magnitude over conventional GPUs.

“The current era of AI is one of exponential acceleration, and energy is its binding constraint. Brute-forcing the digital, deterministic paradigm to unfathomable scale cannot be the endgame,” said Guillaume Verdon, founder and CEO of Extropic. “TSUs harness the inherent randomness of nature to deliver more intelligence per watt. And because they run on mature nodes, we can build them here, in American fabs, without waiting in line for anyone else’s capacity. We are proud to partner with the Trump Administration, Secretary Lutnick, and Executive Director Frauenhofer to manufacture this new category of compute on American soil and help return the United States to compute dominance.”

Replaying the playbook that built Silicon Valley

Silicon Valley was built on public-private partnerships: the first integrated circuits found their earliest volume customers in federal programs, and the government acting as first customer and first investor is how the American semiconductor industry was built up. Six decades later, Extropic is reinventing how the transistor is used for the generative AI era, moving beyond deterministic digital logic into stochastic electronics and thermodynamic computation. Once again the federal government is acting as a key partner to bridge the gap from working prototype to production scale and accelerating the scaling and diffusion of this technology into the market. Thermodynamic computing will fundamentally change how we compute from the ground up, enabling new capabilities, unparalleled energy efficiency and greater access to AI at lower costs for all Americans.

Scaling American AI output

AI’s overall growth, accessibility, and costs are running up against the limits of the power grid: both power production and energy efficiency have become limiting factors for American compute. In the age of AI, a nation’s strength will be measured by its total intelligence production: the watts it generates, multiplied by the intelligence it extracts from every watt.

While America secures the watts through a new American nuclear renaissance, spurred by the President’s May 2025 executive orders on nuclear energy, power efficiency will determine whether artificial intelligence is ubiquitously and cost-efficiently accessible at scale. This investment in thermodynamic computing will push the frontier of how much intelligence per watt one can get from American silicon, unlocking a path to potentially orders of magnitude greater total intelligence output at a national scale. More intelligence output means more discovery, more industry, and more abundance, compounding directly into American economic strength and the prosperity of every American.

Building the first large-scale thermodynamic computing system

For Extropic, the bridge from prototype to production runs from the X0, the prototype silicon chip that took thermodynamic computing from zero to one, to the Z1, its first production-scale TSU. Under the letter of intent, the planned R&D funding would support bringing the first Z1 clusters online and demonstrating chip performance on generative-AI benchmarks. Much of the frontier of this work lies beyond the chip itself, in the systems around it: the infrastructure to control TSUs, connect them to one another, and integrate them with conventional forms of computing at rack scale.

The systems scaling work supported by this award will allow for Z1 clusters large enough to begin exploring thermodynamic AI algorithms at scales impractical to simulate on GPUs today. This will in turn enable the discovery of novel algorithms native to this hardware paradigm. Accelerating that algorithmic development is key to migrating generative AI workloads from traditional accelerators to the more power-efficient substrate that is the TSU.

Bringing the thermodynamic computing supply chain home

Extropic’s TSU chips are unique in that they extract more computation from orders of magnitude fewer transistors by operating them probabilistically, achieving dramatic power efficiency gains without requiring the smallest transistors from the cutting edge process nodes. As a result, TSUs can be manufactured on mature process nodes with substantial capacity available in the United States today, without competing for the predominantly offshore leading-edge wafers on which the world’s supply of digital accelerators depends.

The capstone of the project is a new thermodynamic chip: Z1.5, an iteration over Z1, but now fabricated at a U.S. foundry, establishing onshore production capability for thermodynamic computing for the first time. Extropic has already demonstrated the fab-portability of its probabilistic primitive IP, with two X0 variants taped out and successfully tested at two different fabs.

“With today’s compute supply chain investments, the Trump Administration is accelerating America’s innovation engine,” said Secretary of Commerce Howard Lutnick. “These strategic investments will enhance our country’s domestic capabilities, create high-paying jobs and keep America at the forefront of the semiconductor industry.”

Stochastic electronics represent the future of computing for AI, and they have different fabrication requirements than digital. This award will ensure U.S. foundries create the manufacturing know-how to begin optimizing the American supply chain for the next generation of computing. Onshoring that supply chain is essential to American sovereignty and national security as computing transitions to its next substrate.

“The CHIPS R&D incentives will support a breakthrough in compute architecture to power next-generation AI and scientific discoveries,” said Bill Frauenhofer, the Executive Director for Semiconductor Innovation and Investment at the Department of Commerce. “Accelerating R&D for probabilistic compute provides American industry the energy efficiency to scale complex AI workloads securely and rapidly.”

The company will share a comprehensive technical update on its full thermodynamic computing stack, spanning hardware, software, and API access, in the coming days.

The letter of intent is non-binding, and the planned funding remains subject to the negotiation of definitive agreements with the Department of Commerce and the achievement of project milestones.

About Extropic

Extropic co-designs full stack thermodynamic computing systems that are radically more energy efficient than GPUs. Its Thermodynamic Sampling Units (TSUs) deliver more intelligence per watt, per square millimeter, and per second. The company’s stack spans silicon, systems, compilers and stochastic programming frameworks. Extropic is headquartered in Waltham, Massachusetts, with offices in San Francisco. Learn more at extropic.ai.

Media Contact

contact@extropic.ai

View original content:https://www.prnewswire.com/news-releases/extropic-signs-75-million-letter-of-intent-with-us-department-of-commerce-to-scale-and-onshore-thermodynamic-computing-302839290.html

SOURCE Extropic Corp.

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Drew Grider Named No. 26 on Forbes Best-In-State Wealth Advisors 2026 List for the Chicago Suburbs

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July 30, 2026

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Leelyn Smith President recognized among the top financial advisors in the Chicago suburbs, ranked 26 out of 270 advisors evaluated by Forbes and SHOOK Research

GENEVA, Ill., July 30, 2026 /PRNewswire/ — Leelyn Smith announced today that Drew Grider, CFA, President of the firm, has been named to the Forbes Best-In-State Wealth Advisors 2026 list, ranking No. 26 out of 270 advisors evaluated in the Chicago suburbs category. The annual ranking, produced by Forbes in partnership with SHOOK Research, identifies the country’s top financial advisors through a rigorous evaluation of quantitative and qualitative criteria including industry experience, assets under management, client retention, compliance record, and the full breadth of client services delivered.

President of Leelyn Smith, Drew Grider, named among Best-In-State Wealth Advisors by Forbes and Shook Research

The 2026 list drew more than 52,000 nominations nationwide. SHOOK Research’s evaluation process requires a minimum of seven years of advisor experience and weighs factors including revenue trends, assets under management, compliance records, and best practices identified through telephone and in-person due diligence interviews. Portfolio performance is not a criterion due to varying client objectives and the absence of audited data.

Grider built Leelyn Smith on the conviction that wealth management, tax strategy and execution, financial planning, accounting, and CFO services should operate as one coordinated practice rather than a collection of separate departments. That model now serves more than 900 families across 31 states, and the firm is growing, in no small part thanks to the other dedicated advisors on the team across wealth, tax, and financial planning.

“At the end of the day, the work is still about being a great advisor to the people who trust us. The integrated structure gives our team the context to do that work better. But what actually matters most is still showing up for our clients, knowing their situation deeply, and giving them our best thinking every time. I am proud of so many other advisors and people on our team for doing exactly that.”

The recognition adds to a growing body of credentials for the firm, which has built its practice around a model that remains uncommon in the industry, with tax professionals and wealth advisors working together under one roof, coordinating across every dimension of a client’s financial life.

The Forbes Best-In-State Wealth Advisors ranking was developed by SHOOK Research and is based on in-person and telephone due diligence meetings and a ranking algorithm that includes client retention, industry experience, review of compliance records, firm nominations, assets under management, and revenue generated for their firms. Neither Forbes nor SHOOK Research received compensation in exchange for placement on the ranking.

About Leelyn Smith

Leelyn Smith is an integrated advisory firm where wealth management, tax strategy and execution, financial planning, accounting, and CFO services operate as one coordinated practice. We’re built at an intentional scale to deliver sophisticated, cross-functional expertise while maintaining the deep client relationships and true customization that define boutique service. Our team invests in understanding the complete story: your professional evolution, your family’s priorities, the transitions you’re navigating, and the legacy you’re building. This foundation enables us to deliver proactive guidance tailored to every aspect of your financial life.

Media Contact:
Carley Mostar, CMO
Leelyn Smith
carley@tandemnarratives.com | 773.987.2271

Securities offered through LPL Financial, Member FINRA/SIPC. Investment advice offered through Leelyn Smith, a registered investment advisor and separate entity from LPL Financial. Tax related services offered through Leelyn Smith Tax, LLC, a separate legal entity not affiliated with LPL Financial. LPL Financial does not offer tax advice or related services.

The Forbes Best-In-State Wealth Advisors 2026 ranking was developed by SHOOK Research and is based on an algorithm of qualitative and quantitative data. This ranking is based upon the period from 6/30/2024 to 6/30/2025 and was released on 4/7/2026. Advisors considered have a minimum of seven years of experience. The algorithm weighs factors including revenue trends, assets under management, compliance records, industry experience, and best practices. Portfolio performance is not a criterion due to varying client objectives and lack of audited data. Neither Forbes nor SHOOK Research receive compensation in exchange for placement on this ranking. Leelyn Smith did not compensate Forbes or SHOOK Research for this award. This ranking is not indicative of future performance and does not represent any one client’s experience.

Neither rankings nor recognitions by unaffiliated rating services, publications, media, or other organizations,  nor the achievement of any professional designation, certification, degree, or license, membership in any professional organization, or any amount of prior experience or success, should be construed by a client or prospective client as a guarantee that the client will experience a certain level of results if the investment professional or the  investment professional’s firm is engaged, or continues to be engaged, to provide investment advisory services. A fee was not paid by either the investment professional or the investment professional’s firm to receive the ranking. The ranking is based upon specific criteria and methodology (see ranking criteria/methodology above). No ranking or recognition should be construed as an endorsement by any past or current client of the investment professional or the  investment professional’s firm.  Leelyn Smith’s Chief Compliance Officer remains available to address any questions regarding rankings and/or recognitions, including the criteria used for any reflected ranking.

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SOURCE Leelyn Smith

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Factor4 Announces New Partnership with EVOSUS

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27 minutes ago

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July 30, 2026

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Enhancing Merchants with Omnichannel Gift Card Solutions

BROOMALL, Pa., July 30, 2026 /PRNewswire/ — Factor4, a leading provider of omnichannel gift card and loyalty solutions, is pleased to announce a strategic partnership with Evosus, the premier business management software platform for the pool, spa, and hearth industries. This partnership enables merchants to seamlessly sell, redeem, and manage physical and digital gift cards directly on their PAX Aries devices while providing a consistent customer experience across in-store and online channels.

Evosus provides a comprehensive, cloud-based business platform that keeps every part of a business—service, retail, e-commerce, inventory, accounting, and reporting—seamlessly connected. By automating daily operations and unifying workflows, Evosus helps business owners streamline their tasks, stay in sync with their customers, and focus on growth.

Through this partnership, this new service is available to both Evosus Legacy and LOU clients. Merchants gain immediate access to Factor4’s secure gift card platform, allowing them to increase revenue, drive customer loyalty, and simplify gift card management.

“Partnering with Evosus expands our ability to deliver a seamless, fully integrated gift card solution to even more merchants,” said Dan Battista, CEO of Factor4. “Together, we’re helping businesses increase customer engagement, drive repeat visits, and create new revenue opportunities.”

“One of the top requests from our clients is for a robust, reliable gift and loyalty program,” said Dan McManus, CEO at Evosus. “Through this partnership with Factor4, we are delivering on that need, giving both our Evosus Legacy and LOU clients a powerful tool to boost holiday sales, retain customers, and drive repeat business directly through their existing workflow.”

Key Benefits

Seamless physical and digital gift card processingReal-time gift card sales, redemption, and balance tracking.Omnichannel support for in-store and online purchases.Increased customer loyalty and repeat business.Easy implementation with secure, reliable processing.

About Factor4

Factor4 provides comprehensive gift card and loyalty solutions that help merchants increase sales, strengthen customer relationships, and grow their brands through physical and digital gift card programs. Factor4 has an industry leading list of integrations and provides White Glove Support for all of its customers. For more information, visit www.factor4gift.com or contact Sales@factor4gift.com or (844) 444-4013.

About EVOSUS
Evosus is the leading prover of business management software designed specifically for the pool, spa, and hearth industries. With its Legacy platform and modern cloud solution, LOU, Evosus helps retail and service businesses streamline operations, manage inventory, schedule service technicians, and handle accounting under a single login. For more information, visit Evosus.com.

Media Contact: support@factor4gift.com

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SOURCE Factor4

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