Novonix Ltd (NVNXF)

[TradingCharts]

NOVONIX Provides Update on Scaling U.S. Production of Synthetic Graphite Anode Materials
DECEMBER 20, 2022

Are you up late or up early ?

We are both looking for a graphite play or two.

Novonix, is closer than I thought. ASX down tonight. Maybe I will take a small position again. https://www2.asx.com.au/markets/company/nvx

On January 31, 2022, NOVONIX signed an agreement to be the exclusive supplier of graphite anode material to KORE as part of a strategic partnership to advance the lithium-ion battery supply chain in North America. On November 30, 2022, KORE announced it closed the initial US$75 million of strategic financing from Siemens Financial Services and other strategic investors to support the construction of its KOREPlex facility in Phoenix, Arizona, which will begin commercial production in the fourth quarter of 2024. NOVONIX is expanding production of the Company’s Riverside facility in Chattanooga, TN to a target of 10,000 tpa output at full operation to support KORE’s requirement. This will begin at a rate of approximately 3,000 tpa in 2024 and ramp to approximately 12,000 tpa in 2028, to match KORE’s required volume.

On October 19, 2022, NOVONIX announced that it was selected for a US$150 million grant from the U.S. Department of Energy (DOE), through the Bipartisan Infrastructure Law funding, to expand its production of synthetic graphite anode materials. The Company plans to begin construction of a new production facility in 2023, while continuing to expand the production output of Riverside. NOVONIX plans to adjust the previous production output targets of Riverside from 10,000 tpa in 2023 to now match the KORE supply agreement volumes and any subsequent volumes from supply agreements the Company may enter. Equipment installation continues at Riverside as NOVONIX’s proprietary Generation 3 graphitization furnaces are being optimized ahead of the start of production to support KORE’s required volume.

https://ir.novonixgroup.com/news-releases/news-release-details/novonix-provides-update-scaling-us-production-synthetic-graphite