NOVONIX Limited (NASDAQ: NVX, ASX: NVX) (“NOVONIX” or “the
Company”), a leading battery materials and technology company, and
ICoNiChem Widnes Limited (“ICoNiChem”), a world leader in the
production and commercialization of cobalt and nickel salts based
in the UK, have announced the signing of a Joint Collaboration
Agreement focused on the development of nickel-based cathode active
materials (“CAM”).
NOVONIX and ICoNiChem have been selected for funding under the
2024 Canada-UK critical minerals call for proposals, which is
focused on advancing projects related to critical minerals
essential for industries like renewable energy, electric vehicles,
and electronics. To support their participation in the project,
NOVONIX Battery Technology Solutions Inc., a Canadian division of
NOVONIX, is receiving advisory services and up to CAD $127,928 in
funding from the National Research Council of Canada Industrial
Research Assistance Program (“NRC IRAP”), while ICoNiChem is
receiving support through Innovate UK. The 2-year project, with a
total budget of CAD $515,686 between NOVONIX and ICoNiChem, aims to
further improve the sustainability of the NOVONIX all-dry,
zero-waste technology by incorporating recycled metal feedstock,
such as cobalt and nickel carbonates and oxides, into the
process.
Dr. Chris Burns, CEO of NOVONIX said, “NOVONIX will utilize its
patented all-dry, zero-waste synthesis process to synthesize, test,
and analyze cathode active materials that will incorporate
ICoNiChem’s recycled cobalt and nickel. Our involvement reflects
our continued commitment to advancing sustainable solutions,
reducing cathode processing cost, and strengthening the critical
mineral supply chain across North America, the UK, and beyond.”
Berk Sengul, Managing Director of ICoNiChem said “This is a
fantastic opportunity to work with a world class company like
NOVONIX to develop a UK supply chain for nickel-based cathode
active materials. The project will strengthen ICoNiChem’s position
as a global player in cobalt and nickel materials”
ICoNiChem will provide various recycled materials, including
cobalt and nickel carbonates or oxides, throughout the project to
compare and demonstrate optimal performance in cathode powders. The
project will utilize NOVONIX’s cathode pilot line, as well as other
services from NOVONIX Battery Technology Solutions, to support the
characterization of project materials including their physical and
electrochemical performance. Materials will be built into full
scale pouch cells to benchmark performance relative to other
leading cathode materials.
Upon successful completion of milestones, NOVONIX may enter into
commercial agreements for ICoNiChem products with the goal of
integrating recycled feed into its CAM production processes moving
forward.
This announcement has been authorized for release by NOVONIX
Chairman, Admiral Robert J. Natter, USN Ret.
About NOVONIX All-Dry, Zero-Waste, Cathode Pilot
LineIn July 2023, NOVONIX commissioned its all-dry,
zero-waste cathode pilot line and announced its production of
material that matched the performance of leading cathode materials
from existing suppliers in full-cell testing. Since then, the
Company has shared the results of an independent engineering study
by Hatch Ltd. that shows the potentially significant cost savings
and waste reduction of NOVONIX’s cathode synthesis process compared
to the conventional wet process.
NOVONIX was recently granted a patent for its all-dry,
zero-waste cathode synthesis technology in Japan, a key market for
the production and use of CAM. The Company has continued to produce
various grades of mid- and high-nickel cathode material to
specifications of potential commercialization partners and began
sampling these pilot scale materials. A white paper was recently
published to highlight the performance of its mid-nickel
materials.
About NOVONIX NOVONIX is a leading battery
technology company revolutionizing the global lithium-ion battery
industry with innovative, sustainable technologies,
high-performance materials, and more efficient production methods.
The Company manufactures industry-leading battery cell testing
equipment, is growing its high-performance synthetic graphite anode
material manufacturing operations, and has developed an all-dry,
zero-waste cathode synthesis process. Through advanced R&D
capabilities, proprietary technology, and strategic partnerships,
NOVONIX has gained a prominent position in the electric vehicle and
energy storage systems battery industry and is powering a cleaner
energy future.
To learn more, visit us at www.novonixgroup.com or on LinkedIn
and X.
About ICoNiChemBorn out of The Shepherd
Chemical Company, ICoNiChem Widnes Ltd was created by an amicable
divestiture from Shepherd in August 2016 by GIL (Grove Investments
Ltd). On 9th December 2020 the shareholders of ICoNiChem Group
Limited agreed to accept an unsolicited offer for the sale of the
entire share capital of ICoNiChem Group Limited to Cengiz Holding
in Turkey. The site has produced inorganic salts of Cobalt and
Nickel in the North West of England uninterrupted for over 40
years.
The ICoNiChem mission is to grow the specialty chemical business
based on quality and manufacturing excellence using 100% ethically
sourced feedstocks including recycled materials from Li-ion
batteries. This will provide consumers with products using
sustainable transition metal compounds developed by a compact
focused organisation, which bring real benefits to people in a
modern world.
To learn more, visit us at www.iconichem.com or on LinkedIn and
X.
For NOVONIX Limited
Scott Espenshade, ir@novonixgroup.com
(investors) Stephanie Reid, media@novonixgroup.com (media)
Forward-Looking Statements
This communication contains forward-looking statements about the
Company and the industry in which we operate. Forward-looking
statements can generally be identified by use of words such as
“anticipate,” “believe,” “contemplate,” “continue,” “could,”
“estimate,” “expect,” “intend,” “may,” “plan,” “potential,”
“predict,” “project,” “should,” “target,” “will,” or “would,” or
other similar expressions. Examples of forward-looking statements
in this communication include, among others, statements we make
regarding our cathode synthesis process, developing cathode active
materials with improved performance at a lower cost, the successful
completion of our project with ICoNiChem, and the execution of a
material technology agreement for ICoNiChem products to be
integrated into our processes. We have based such statements on our
current expectations and projections about future events and trends
that we believe may affect our financial condition, results of
operations, business strategy and financial needs. Such
forward-looking statements involve and are subject to known and
unknown risks, uncertainties and other factors which may cause our
actual results, performance or achievements to be materially
different from any future results, performance or achievements
expressed or implied by the forward-looking information. Such
factors include, among others, the successful development and
commercialization of our cathode synthesis technology and cathode
active materials, the commercial success of our technology, our
ability to scale our production facility and to obtain funding to
finance our growth and operations, the accuracy of our estimates
regarding market size, costs and expenses, future revenue, capital
requirements and needs for additional financing, how discussions
progress with potential customers, and regulatory developments in
the United States, Australia and other jurisdictions. These and
other factors that could affect our business and results are
included in our filings with the U.S. Securities and Exchange
Commission (“SEC”), including the Company's Form 20-F. Copies of
these filings may be obtained by visiting our Investor Relations
website at www.novonixgroup.com or the SEC's website at
www.sec.gov.
Forward-looking statements are not guarantees of future
performance or outcomes, and actual performance and outcomes may
differ materially from those made in or suggested by the
forward-looking statements contained in this communication.
Accordingly, you should not place undue reliance on forward-looking
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based only on information currently available to us and speaks only
as of the date on which it is made. We undertake no obligation to
publicly update any forward-looking statement, whether written or
oral, that may be made from time to time, whether as a result of
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