NOVONIX Ltd (NVX.AX) Annual Report to Shareholders
Brisbane, Australia, Sep 21, 2020 - (ABN Newswire) - NOVONIX (ASX:NVX) (HAM:GC3) Anode Materials (PUREgraphite) was established in March 2017 to develop and commercialise ultra -long-life high-performance anode material for the lithium-ion battery market focused on electric vehicle and energy storage applications that demand long life and high performance.
Since 2017, significant progress has been made executing on this business plan. FY 2020 has proven to be a banner year for NOVONIX, notably signing deals with two of the world's largest battery manufacturers (SAMSUNG SDI and SANYO/PANASONIC) and securing funding to expand production to 2,000 tonnes per annum (tpa) progressively over 2020 and 2021.
NOVONIX commenced commercial scale processing in June 2020 at its production facility in Chattanooga, Tennessee, USA, where it will progressively scale to a forecast 2,000 tpa production rate by the end of calendar 2021.
NOVONIX BATTERY TECHNOLOGY SOLUTIONS (BTS)
NOVONIX Battery Technology Solutions was acquired in June 2017 to provide cutting edge battery R&D and technology advantage.
NOVONIX BTS is based in Bedford (near Halifax), Nova Scotia, Canada and makes the most accurate lithium-ion battery cell test equipment in the world. This equipment is now used by leading battery makers and researchers and equipment manufacturers including Panasonic, CATL, LG Chemical, Samsung SDI and numerous consumer electronic and automotive OEMs.
Since acquisition the company significantly expanded NOVONIX BTS R&D capabilities through direct investment in and through a long term partnership agreement with Dalhousie University.
In FY 2020, NOVONIX BTS delivered on all aspects of the company's strategy, achieving >100% yoy revenue growth and announcing groundbreaking battery technology developments including Dry Particle Micro Granulation (DPMG) and Single Crystal Cathode (SCC).
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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 14 countries.
NOVONIX is majority-owner of the PUREgraphite battery anode material Joint Venture, headquartered in Chattanooga, Tennessee, USA.
NOVONIX's mission is to accelerate the adoption of batteries for a cleaner energy future.
Philip St Baker
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