Half Year Report
Brisbane, Mar 15, 2019 AEST (ABN Newswire) - Your directors present their report on NOVONIX Limited (
ASX:NVX) (referred to hereafter as the 'consolidated entity') for the half-year ended 31 December 2018.
HALF-YEAR HIGHLIGHTS
- PUREgraphite due diligence undertaken ahead of ownership increase to 75% in January 2019.
- Completed manufacturing for first suite of commercial furnaces (acceptance January 2019)
- Received first group of commercial milling equipment, and ordered balance of initial plant
- Planned product trials with multiple global battery makers (trials commenced January 2019)
- Continued product trials in Tennessee facility with US-based beachhead customers
- Evaluated and short-listed industrial properties suitable for scaling the business above 1,000tpa
- Commissioned the NOVONIX pilot battery cell manufacturing facility in Halifax, Canada
- Commenced NOVONIX's internal electrolyte materials R&D program in Halifax
- Continued growth in forward sales for BTS equipment and services, aiming for 30%+ YOY
- R&D partnership signed with Dalhousie University and filed first patent application in December 2018
- Filed US provisional patent for Silicon Infused Graphite for anode material (publication pending)
- Awarded C$487,693 R&D support grant from Government of Canada (NRC IRAP)
- Andrew Liveris AO formally appointed to the NVX Board in July 2018
- A$5.5m raised through the issue of convertible loan notes in July 2018 to fund working capital as the business transitions into production
- A$10.9m funding arranged for exercise of PUREgraphite call option (completed January 2019)
To view the full report, please visit:
http://abnnewswire.net/lnk/S8R7EQ7I
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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