January 2020 Update
Brisbane, Jan 7, 2020 AEST (ABN Newswire) - Novonix Ltd (
ASX:NVX) (GC3:FRA) provide the January 2020 update, accelerating adoption of batteries for a cleaner energy future.
SPP Offer
- SPP announced 16 December 2019
- SPP closes 5pm (AEST) on 10 January 2020(Extended for Holiday Season)
- Shareholders at 7am (Sydney time) on 13 December 2019 are eligible to participate
- Opportunity to apply for up to $30,000 in new shares at $0.51 per share which is a 20% discount to the Volume Weighted Average Market Price (VWAP) over five days prior to announcement
- Refer Offer Booklet at https://events.miraqle.com/NVX-offer
Use of Funds
- Working capital to fulfil the SAMSUNG SDI agreement announced 9 December 2019 (~70%), and
- Continued R&D to improve manufacturing processes, products and customer acquisition (~30%)
NOVONIX TO SUPPLY SAMSUNG SDI BATTERY ANODE MATERIAL
- Under the conditional agreement NOVONIX will supply SAMSUNG SDI an initial volume of 500 metric tons in 2020, consistent with NOVONIX's currently being installed production capacity, with first deliveries forecast to commence in October 2020
- Larger volumes will be considered each year and will be subject to supply performance by NOVONIX, market conditions and SAMSUNG SDI overall requirements
- NOVONIX's PUREgraphiteanode material will be manufactured at its facility in the United States and will be exported to SAMSUNG SDI battery manufacturing facilities in other countries
NOVONIX AND SAMSUNG TO PURSUE R&D COLLABORATION
- SAMSUNG SDI and NOVONIX will also explore opportunities for the supply of new graphite anode materials for Electric Vehicle use in Samsung SDI products under R&D collaboration.
*Note: Refer full ASX announcement on this SAMSUNG Agreement dated 9 December 2019
What's coming in 2020
PUREGraphite Anode Materials
- First commercial production
- Ramp-up of commercial production to 500 tpa rate
- First deliveries to SAMSUNG SDI
- Expanded marketing program
- Supply agreements with other battery makers
- Product and process innovation and development
- Planning for rapid expansion backed by off-take contracts
Novonix Battery Technology Solutions
- Develop patent portfolio for new battery materials and manufacturing
- Commercialisenew materials and manufacturing methods
- Continue strong growth in cell design, cell making, and cell testing services
- Expand strategic research and development services and sales
To view the presentation, please visit:
https://abnnewswire.net/lnk/WPFO0Q35
About NOVONIX Limited
NOVONIX Limited (ASX:NVX) (FRA:GC3) (OTCMKTS:NVNXF) 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 more than 14 countries. NOVONIX's mission is to support the global deployment of lithium-ion battery technologies for a cleaner energy future.
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