NOVONIX Ltd Sponsored ADR (NVX) has released an update.
NOVONIX Ltd, a leader in battery materials and technology, has entered a Testing and Development Agreement with Volkswagen’s PowerCo to develop and test synthetic graphite anode materials. This partnership has the potential to lead to a supply agreement, particularly for PowerCo’s St. Thomas gigafactory, and supports NOVONIX’s expansion plans, including its Riverside facility in North America. The collaboration is part of a broader effort to strengthen the North American battery materials supply chain with NOVONIX’s expected production increase to 150,000 tonnes per annum.
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