Quarterly Activities Report
Brisbane, Oct 31, 2019 AEST (ABN Newswire) - NOVONIX Ltd (
ASX:NVX)(GC3:FRA) provide the Quarterly Activities Report for the period ending September 2019.
PUREgraphite activities and outlook
July - September activities
- PUREgraphite anode product now qualified for use by two global battery makers with volume and price discussions underway
- Positive feedback from product evaluations by other global battery makers and second stage product evaluation programs agreed
- Construction of the Phase 1 commercial plant continued
- Unplanned delays in delivery and installation of some critical pieces of equipment (previous notified to the market)
- Now forecasting first commercial production to occur in November
- Expecting it will take three to six months to get operations running steady at an optimal level with the current technology being adopted
- Further expansion of capacity beyond 500 tpa will be based on customer demand
- PUREgraphite now integrated/supported by NOVONIX's expanded battery technology services team in Halifax
October - December 2019 outlook
- Material evaluation ongoing with potential customers
- Ongoing product customization for customers
- Customer volume and price negotiations
- Preparation for engagement with more customers
- Commissioning of Phase 1 Commercial Plant
- First commercial production milestone
- Optimisation of new processing technologies
- Ongoing planning for scaling the business in 2020
- Ongoing process technology development
- Ongoing product development
BTS activities and outlook
July - September activities
- Patent application filed for particle aggregation technology for making high performance materials
- Completion and delivery of large customized battery test system for global brand client incorporating concurrent high precision measurement of voltage, current, impedance, swelling and temperature while cycling the cell - possibly a world first
- Commenced multiple cell testing projects with several new customers including global brand names
- Commenced multiple battery materials and cell design programs with several new customers
- Expanded the battery technology and testing services team to meet the rapidly growing customer demand for NOVONIX services
October - December 2019 outlook
- Continued steady growth of our battery technology and testing services business
- Publishing and presentation of white papers on NOVONIX's flagship DTA and HPC technologies as part of refreshed marketing program
- Expansion planning for the technology services side of the business for 2020
- Further R&D on recent materials and manufacturing method inventions associated with silicon infused graphite materials, dry processes of dry process for modifying and coating cathode particles
- Ongoing support of the PUREgraphite business in terms of slurry making, electrode making, battery making, battery testing and materials customization and improvement
Corporate activities and outlook
July - September activities
- Ongoing high-level support for PUREgraphite business development including a composite board and management working group and customer visits
- Increased top-level engagements and activations with prospective global customers including leverage of extensive personal networks
- Strategic review of the group with a focus on promising growth opportunities and geographies for PUREgraphite and BTS
- Completion of FY2019 financial audit and accounts
- Ongoing statutory and other reporting activities
- Ongoing investor meetings and communications
- No activity or changes to exploration tenements
October - December 2019 outlook
- Corporate support with development of off-take agreements / sales contracts and expansion of business development activity in general
- Corporate guidance and oversight to the establishment of commercial scale production at PUREgraphite in expanded premises
- Detailed planning and preparation for 2020
To view the Quarterly Report, please visit:
https://abnnewswire.net/lnk/14RGTYYX
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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