NOVONIX Ltd (AU:NVX) has released an update.
NOVONIX Ltd has made significant strides in the battery materials sector, securing a US$103 million tax credit from the U.S. government and forging a development agreement with Volkswagen’s PowerCo SE for testing and developing synthetic graphite anode materials. The company is actively working towards an initial production capacity of 3,000 tonnes per annum by the end of 2024 and is involved in discussions with the White House to bolster the North American graphite supply chain. With a focus on innovation and localization, NOVONIX is poised to meet its target of commercial production in 2025 and further expand its capacity.
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