SANYO Electric Agreement for LIB Anode Material
Brisbane, Jan 28, 2020 AEST (ABN Newswire) - NOVONIX Limited (
ASX:NVX) (GC3:FRA) is very pleased to announce a commercial collaboration with SANYO Electric Co., Ltd. (SANYO) of Japan, a manufacturer of Lithium-ion batteries for applications including electric vehicles and energy storage systems.
To this end, NOVONIX's wholly-owned subsidiary, PUREgraphite, LLC, (PUREgraphite) has executed a non-binding Memorandum of Understanding (MoU) with SANYO.
Under the MoU, the parties have agreed to work together to investigate the opportunity for PUREgraphite to supply graphite anode material for use in lithium-ion battery manufacturing.
After prior sampling and testing completed in Japan, the parties have agreed to continue to evaluate PUREgraphite's material (through exchanging samples, testing and feedback) from technical and business opportunity perspectives for use in electric vehicles and/or energy storage systems.
The MoU is non-binding and furthermore does not constitute a contractual obligation from either party to enter into business with the other, and any supply arrangements (if any) depend upon the suitability of NOVONIX's products and separate negotiation and agreement between the parties.
NOVONIX Managing director, Philip Baker, said that: "We are delighted with this new collaboration. It is a further endorsement of NOVONIX. We hope that the collaboration will progress positively and, whilst non-binding, prove to be a key step in establishing potentially a long-term supply arrangement with our second customer."
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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