Government of Canada Supports R&D Projects
Brisbane, July 24, 2018 AEST (ABN Newswire) - ASX-listed NOVONIX Limited (
ASX:NVX) ("NOVONIX" or the "Company") is pleased to announce conditional funding of $487,693 CDN from the Natural Research Council of Canada Industrial Research Assistance Program (NRC IRAP).
HIGHLIGHTS
- The National Research Council of Canada Industrial Research Assistance Program supports NOVONIX's R&D efforts with advisory services and a contribution of up to $487,693 CDN alongside investment by NOVONIX.
- The projects will be run out of NOVONIX pilot manufacturing and research facility in Bedford (near Halifax) in Nova Scotia
- The primary research focus will be materials development and cell designs for improved battery performance with a focus in electrolytes and silicon/graphite anode materials
This project, entitled 'Development of Advanced Novel Materials for Improved Lithium Ion Battery Performance', will support work by NOVONIX in development and testing of electrolyte and silicon based anode materials for use in lithium ion batteries.
NOVONIX Limited Chief Operating Officer, Dr Chris Burns, said that the project has received great support from the Canadian government towards the expansion of research and development at our facility.
"The funding will help us expand our team of scientists, engineers and technicians working on developing new battery materials", Dr Chris Burns said.
The project will utilize NOVONIX's new cell pilot line to build batteries as the test vehicles for evaluating new materials. Both industry standard electrode materials as well as graphite materials being produced by NOVONIX's PUREgraphite Joint Venture will be used in research and development trials.
NOVONIX is now uniquely positioned to be able to process materials, build commercial format pouch and cylindrical cells and test them on internally built High Precision Charger (HPC) systems in order to efficiently develop and optimize the performance of new materials for use in Lithium ion batteries.
The primary goals of the project are to work on commercially scalable materials that can improve the energy density, lifetime and power capabilities of Lithium ion batteries relative to today's industrial standards and benchmarks.
"Through the course of this project we expect to show improvements in battery performance building cells with NOVONIX materials and technology. We can then present these results to many of our existing battery manufacturer and OEM customers to demonstrate the value of moving these materials into their supply chain," Dr Burns said.
NOVONIX was the recipient of conditional NRC IRAP funding on several occasions in the past in support of the development of battery test equipment technologies; however, this is the first project supporting battery materials development.
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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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