NOVONIX Commissions Zero-Waste Cathode Pilot Line
July 19 2023 - 6:35PM
NOVONIX Limited (NASDAQ: NVX, ASX: NVX) (“NOVONIX” or the
“Company”), a leading battery materials and technology company,
announced its Battery Technology Solutions division successfully
completed the commissioning of its 10 tonnes per annum (TPA)
cathode pilot line. The cathode pilot line’s first product, a
mid-nickel grade of single-crystal cathode material (“NMC622"),
produced using NOVONIX’s patent-pending, all-dry, zero-waste
synthesis technology, matches the performance of leading cathode
materials from existing suppliers in full-cell testing. NOVONIX
will use the pilot line to further demonstrate the
manufacturability of the Company’s long-life cathode materials and
technology, including high-nickel (e.g., NMC811) and cobalt-free
materials, along with their performance in industrial format
lithium-ion cells.
Dr. Chris Burns, CEO of NOVONIX, noted, “NOVONIX’s all-dry,
zero-waste cathode synthesis demonstrates our efforts to remain at
the forefront of product and processing technology for the battery
industry. Our Battery Technology Solutions division is actively
developing innovative battery materials that enable simplified,
improved performance as well as more environmentally sustainable
manufacturing processes necessary for the North American battery
ecosystem. This capability places us in a unique position to serve
the nickel-based cathode material market, which we and industry
experts believe will require over 3 million tonnes per annum and
represent an over $100B market opportunity by 2030. This
complements our anode material business as we look to become a
major supplier of anode and cathode materials and technologies
outside of Asia.”
NOVONIX increased its investment in its proprietary cathode
synthesis technology over the past two years. The patent-pending
process – and the innovations resulting from it – are
transformational for the battery industry, decreasing processing
complexity which should result in a substantial reduction in costs
and waste (e.g., elimination of sodium sulfate) in the cathode
manufacturing process.
The NMC622 cathode material serves as a platform to expand upon
the all-dry process into high-nickel and cobalt-free chemistries,
demonstrating the flexibility of the NOVONIX technology across a
range of critical cathode materials. The Company previously shared
performance data from their all-dry, mid-nickel cathode powder that
was built into 1-Ah pouch battery cells, by leveraging their cell
prototyping line, and benchmarked against commercial cathode
powders of the same chemistry. The data, seen in the figure below,
showed that cells containing NOVONIX all-dry, zero-waste cathode
powder had similar capacity retention out to 400+ cycles as
high-quality, commercial, mid-nickel, single-crystal cathode
powders without any ‘finishing’ or surface treatments. Early
physical property measurements of mid-nickel cathode powders
produced on the 10 tpa pilot line indicate similar, if not
superior, expected electrochemical performance from the scaled
material.
The positive performance results around NMC622 mark a critical
step in enabling the Company to proceed with plans to scale larger
test samples and begin commercial discussions with potential
partners and customers for its cathode technology.
This announcement has been authorized for release by NOVONIX
Chairman, Admiral Robert J. Natter, USN Ret.
About NOVONIXNOVONIX 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 in Canada and is growing its high-performance synthetic
graphite anode material manufacturing operations in the United
States. Through advanced R&D capabilities, proprietary
technology, and strategic partnerships, NOVONIX has gained a
prominent position in the electric vehicle and energy storage
solutions battery industry and is powering a cleaner energy future.
To learn more, visit us at www.novonixgroup.com or on LinkedIn, and
Twitter.
For NOVONIX LimitedScott
Espenshade, ir@novonixgroup.com (investors)Lori Mcleod,
media@novonixgroup.com (media)
Forward-Looking StatementsThis 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 technology and our plans to scale operations. 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 success of the
technology results in industrial format lithium-ion cells, our
ability to scale to other technologies, how discussions progress
with potential buyers, and the accuracy of our estimates regarding
market size, expenses, future revenue, capital requirements and
needs for additional financing, and regulatory developments in the
United States, Australia and other jurisdictions. Detailed
information regarding these and other factors that could affect our
business and results is included in our filings, including the
Company's most recent transition and annual reports on Form 20-F,
particularly the “Operating and Financial Review and Prospects” and
“Risk Factors” sections of those reports. 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 statements. Any
forward-looking statement in this communication is 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 new
information, future developments or otherwise.
An infographic accompanying this announcement is available
at: https://www.globenewswire.com/NewsRoom/AttachmentNg/8e8b42db-4fcc-499b-99f6-4929f46f0fca
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