NOVONIX Ltd (NVX.AX) Quarterly Activities Report
- 88
October - December activities
PUREgraphite (PG) - Ownership 75% + production rights 100% above 1,000 tpa
- Conducted due diligence ahead of ownership increase and achieved control of JV (completed January 2019)
- Completed manufacturing for first lot of commercial furnaces (acceptance testing completed in January 2019)
- Installed first lot of commercial milling equipment in Tennessee facility
- Equipment trials and order specifications completed for remaining process equipment
- Continued product trials with beachhead customers
- Planned product trials with multiple global battery makers (started January 2019)
- Evaluated and short listed industrial properties suitable for scaling the business above 1,000tpa
Battery Technology Solutions (BTS) - 100% NOVONIX-owned
- Continued growth in sales for BTS equipment and services, tracking for 30%+ YOY
- Started battery R&D partnership with Dalhousie University on 1 October & filed first patent application in December
- Filed US provisional patent for a silicon infused graphite material and manufacturing process (publication pending)
Corporate
- Negotiated funding for exercise of PUREgraphite option resulting in strategic investment (January 2019)
FY2019 outlook
- Achieve control of PUREgraphite & increase production rights to 100% > 1,000 tpa
- Expand PUREgraphite product trials with domestic US & global battery makers
- Commission our first commercial scale battery anode plant (Q2 2019)
- Execute first production & sales of battery anode material (H2 2019)
- Secure expansion site & commence planning for scaling PUREgraphite above 1,000 tpa
- Advance R&D of our "Silicon Infused Graphite" invention and secure strategic partner
- Achieve another 30%+ growth in sales for BTS equipment and services
- Develop next generation battery materials IP in partnership with Dalhousie University
- Develop next generation electrolyte IP via our in-house electrolyte R&D program
- Evaluate commercial options for Mt Dromedary Graphite Project
To view the full report, please visit:
http://abnnewswire.net/lnk/SI12JWBZ
About NOVONIX Ltd:
NOVONIX Limited (ASX:NVX) (FRA:GC3) is an integrated developer and supplier of high performance materials, equipment and services for the global lithium-ion battery industry with operations in the USA and Canada and sales in fourteen countries. NOVONIX is co-owner of the PUREgraphite anode material Joint Venture, headquartered in Chattanooga, Tennessee, USA. The Company also owns a world-class, large and high-grade natural graphite deposit in Australia.
NOVONIX's mission is to accelerate the adoption of batteries for a cleaner energy future.
Source:
NOVONIX Ltd
Contact:
Philip St Baker Managing Director Phone: +61-438-173-330 Email: [email protected] Website: www.novonixgroup.com
ABN Newswire is a business newswire and press release distribution service for listed companies on stock exchanges globally. ABN Newswire distributes company announcements to the professional platforms, finance portals and syndicates important corporate news to a wide variety of news aggregators and financial news systems.
