Quarterly Activities Report
Brisbane, Feb 4, 2019 AEST (ABN Newswire) - NOVONIX Ltd (
ASX:NVX) provides the Company's Quarterly Activities Report.
October - December activities
PUREgraphite (PG) - Ownership 75% + production rights 100% above 1,000 tpa
- Conducted due diligence ahead of ownership increase and achieved control of JV (completed January 2019)
- Completed manufacturing for first lot of commercial furnaces (acceptance testing completed in January 2019)
- Installed first lot of commercial milling equipment in Tennessee facility
- Equipment trials and order specifications completed for remaining process equipment
- Continued product trials with beachhead customers
- Planned product trials with multiple global battery makers (started January 2019)
- Evaluated and short listed industrial properties suitable for scaling the business above 1,000tpa
Battery Technology Solutions (BTS) - 100% NOVONIX-owned
- Continued growth in sales for BTS equipment and services, tracking for 30%+ YOY
- Started battery R&D partnership with Dalhousie University on 1 October & filed first patent application in December
- Filed US provisional patent for a silicon infused graphite material and manufacturing process (publication pending)
Corporate
- Negotiated funding for exercise of PUREgraphite option resulting in strategic investment (January 2019)
FY2019 outlook
- Achieve control of PUREgraphite & increase production rights to 100% > 1,000 tpa
- Expand PUREgraphite product trials with domestic US & global battery makers
- Commission our first commercial scale battery anode plant (Q2 2019)
- Execute first production & sales of battery anode material (H2 2019)
- Secure expansion site & commence planning for scaling PUREgraphite above 1,000 tpa
- Advance R&D of our "Silicon Infused Graphite" invention and secure strategic partner
- Achieve another 30%+ growth in sales for BTS equipment and services
- Develop next generation battery materials IP in partnership with Dalhousie University
- Develop next generation electrolyte IP via our in-house electrolyte R&D program
- Evaluate commercial options for Mt Dromedary Graphite Project
To view the full report, please visit:
http://abnnewswire.net/lnk/SI12JWBZ
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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