Quarterly Activities Report
Brisbane, July 31, 2020 AEST (ABN Newswire) - NOVONIX Ltd (
ASX:NVX) (GC3:FRA) announced that during the quarter the company executed a $63 million equity raise and capital restructure to enable execution of the business strategy and plans to become a market leading producer of ultra long life anode materials for lithium ion batteries for Electric Vehicles (EV) and Energy Storage Systems (ESS).
The transaction included:
- Redemption of all convertible notes
- Repayment of all unsecured short term loans
- Funding to expand the PUREgraphite anode business to 2,000 tpa capacity over 2020 and 2021, and
- Funding for commercialization of our recently announced breakthrough technologies Dry Particle Micro Granulation (DPMG) and Single Crystal Cathode (SCC)
- Updated the market on NOVONIX's technology roadmap and "What's Next"
To view the full quarterly presentation, please visit:
https://abnnewswire.net/lnk/TOS63V9M
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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