Source: GlobeNewswire (MIL-NZ-AU)
HALIFAX, Nova Scotia, Nov. 08, 2022 (GLOBE NEWSWIRE) — NOVONIX Limited (NASDAQ: NVX, ASX: NVX, OTCQX: NVNXF) (“NOVONIX” or “the Company”), a leading battery materials and technology company, today announced the opening of its new pilot production facility aimed to position NOVONIX as an industry leader in cathode technology. The program will be housed in a newly opened, 35,000-square-foot facility and leverage NOVONIX’s all-dry cathode synthesis technology to pilot its patent-pending technology for material production with the target of servicing the rapidly expanding electric vehicle (EV) and energy storage sectors. This pilot scale facility will allow the Company to demonstrate the feasibility of large-scale production, with the production target of up to 10 tonnes per annum.
This new facility and pilot program will utilize technology derived from NOVONIX’s proprietary Dry Particle Microgranulation (DPMG) process, which has the potential to minimize waste and reduce cathode manufacturing costs while improving yield. With over 50% of all new car sales predicted to be EV by fiscal 2030, according to BloombergNEF, millions of tonnes of anode and cathode material will be needed to support an explosion of EV production and electric infrastructure. Following the success NOVONIX has seen in its Anode Materials division, including the recent selection for a US$150 million grant from the United States Department of Energy, the Company hopes to bring the same degree of innovation to cathode material production.
“Launching our cathode pilot facility is another significant step in NOVONIX’s efforts to pioneer a North American battery supply chain and revolutionize the sector with high quality materials and more efficient production methods,” said Chris Burns, Founder and CEO of NOVONIX. “NOVONIX is committed to enhancing the production of cathode material through its proprietary process while providing scalable solutions that address skyrocketing battery materials demand.”
The development of the Simmonds Drive Facility was supported by funding of C$1 million from the Government of Canada through the Atlantic Canada Opportunities Agency (ACOA) and C$1.675 million from Next Generation Manufacturing Canada. As part of the facility opening, NOVONIX will expand its internal cathode development team and on-site analytical capabilities.
“We’re expecting to have the pilot line operational shortly after opening. Our goal is to demonstrate our technology at scale in the first year,” adds Darcy MacDougald, President of NOVONIX Battery Technology Solutions. “NOVONIX continues to innovate, and the launch of this pilot line will help us drive the shift to EV battery and energy storage forward.”
In addition to piloting new cathode material development, the facility will also house NOVONIX’s engineering and production lines for Ultra-High Precision Coulometry Cyclers.
This announcement has been authorized for release by NOVONIX Chairman, Admiral Robert J. Natter, USN Ret.
About NOVONIX
NOVONIX is a leading battery technology company with operations in both Canada and the United States. NOVONIX provides advanced, high-performance materials, equipment, and services for the global lithium-ion battery industry with sales in 14 countries. We develop materials and technologies to support longer-life and lower-cost batteries that are powering us towards a cleaner energy future.
Our NOVONIX Battery Technology Solutions division, based in Halifax, Nova Scotia, Canada, focuses on innovative battery research and development, along with providing advanced battery testing equipment and services on a global scale.
Our NOVONIX Anode Materials division, located in Chattanooga, Tennessee, USA, manufactures our synthetic graphite anode materials used to make lithium-ion batteries which power electric vehicles, personal electronics, medical devices, and energy storage units. To address the growing industry demand, we are working to increase the production capacity to 10,000 metric tons of synthetic graphite per annum (tpa) by 2023, with further targets of 40,000 tpa by 2025 and 150,000 tpa by 2030.
To learn more about NOVONIX visit us on LinkedIn, Twitter, or www.novonixgroup.com
For NOVONIX Limited
Stefan Norbom, ir@novonixgroup.com (investors)
Chantal Theoret, media@novonixgroup.com (media)
– Published by The MIL Network
