Toronto, ON – August 16, 2021 –Neo Performance Materials Inc. (TSX: NEO) (“Neo” or the “Company”) is pleased to announce that it has become a participant in the United Nations Global Compact (“Global Compact”), the world’s largest corporate sustainability initiative, and has committed to implementing the Global Compact’s 10 Principles on human rights, labour, environment and anti-corruption.
“As a company Neo is committed to making the UN Global Compact and its principles part of the strategy, culture, and day-to-day operations of our company, and to engaging in collaborative projects that advance the broader development goals of the United Nations, particularly the Sustainable Development Goals,” said Constantine Karayannopoulos, Neo’s CEO. “We support public accountability and transparency, and therefore we commit to reporting on progress within one year of joining the UN Global Compact, and annually thereafter according to the UN Global Compact COP policy.”
One of the world’s leading manufacturers of rare earth and rare metal advanced materials, Neo’s products are critical to technologies that reduce air and water pollution, achieve better fuel economy, increase energy efficiency, and reduce greenhouse gases and other harmful air emissions. See this short video for more information.
Neo also works to manufacture its products using sustainable practices, such as recycling and feedstock recovery, which helps to reduce environmental impacts throughout its supply chains and accelerate the world’s transition to an environmentally sustainable future. For example:
- Neo recycles scrap and byproduct waste streams in Europe and North America to produce gallium, indium, rhenium, niobium, and tantalum.
- Neo recycles neodymium-praseodymium (“NdPr”) for use in rare earth magnetic powders and magnets.
- Many of Neo’s facilities employ closed loop recycling systems.
- Neo’s subsidiary, NPM Silmet, has successfully undergone a conflict minerals due diligence assessment, as certified by the Responsible Business Alliance, in compliance with the Responsible Minerals Assurance Process Standards for Tantalum.
- Neo’s newest U.S.-to-Europe supply chain will produce rare earth feedstock from natural monazite sands that are a byproduct of other mining.
For more information on Neo and its products and technologies, please go here: https://www.neomaterials.com
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SVP, Corporate Development & Capital Markets
ABOUT NEO PERFORMANCE MATERIALS
Neo manufactures the building blocks of many modern technologies that enhance efficiency and sustainability. Neo’s advanced industrial materials — magnetic powders and magnets, specialty chemicals, metals, and alloys — are critical to the performance of many everyday products and emerging technologies. Neo’s products help to deliver the technologies of tomorrow to consumers today. The business of Neo is organized along three segments: Magnequench, Chemicals & Oxides and Rare Metals. Neo is headquartered in Toronto, Ontario, Canada; with corporate offices in Greenwood Village, Colorado, US; Singapore; and Beijing, China. Neo operates globally with sales and production across 10 countries, being Japan, China, Thailand, Estonia, Singapore, Germany, United Kingdom, Canada, United States, and South Korea. For more information, please visit www.neomaterials.com.
Cautionary Statements Regarding Forward-Looking Statements
This news release contains “forward-looking information” within the meaning of applicable securities laws in Canada. Forward-looking information may relate to future events or future performance of Neo. All statements in this release, other than statements of historical facts, with respect to Neo’s objectives and goals, as well as statements with respect to its beliefs, plans, objectives, expectations, anticipations, estimates, and intentions, are forward-looking information. Specific forward-looking statements in this discussion include, but are not limited to, the following: expectations regarding Neo’s participation in the UN Global Company, its ability to successfully implement the PRI principles, and its commitment to make timely reports on its progress toward achieving these principles. Often, but not always, forward-looking information can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “continues”, “forecasts”, “projects”, “predicts”, “intends”, “anticipates” or “believes”, or variations of, or the negatives of, such words and phrases, or state that certain actions, events or results “may”, “could”, “would”, “should”, “might” or “will” be taken, occur or be achieved. This information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information. Neo believes the expectations reflected in such forward-looking information are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking information included in this discussion and analysis should not be unduly relied upon. For more information on Neo, investors should review Neo’s continuous disclosure filings that are available under Neo’s profile at www.sedar.com.