NOVONIX Achieves Key Milestones & Establishes Pathway to Profitable Anode Material Production

Source: www.gulfoilandgas.com 9/14/2023, Location: Not categorized

Highlights from recent production campaigns:
Demonstrated successful production with the Company’s Generation 3 Furnaces meeting design targets, including throughput, cost, and sustainability targets
Doubled production capacity target to up to 20,000 tpa for Tennessee facility
Expected capital and operating costs for future facilities projected to be lower than the Company’s initial estimates

NOVONIX Limited, a leading battery materials and technology company, is pleased to provide an update on production from its proprietary, continuous induction Generation 3 Furnaces (“Furnaces”) at its Riverside, Tennessee facility. The Company previously reported its high-performance battery grade synthetic graphite met specification targets from its Furnaces.

Production campaigns have been ongoing to provide both operating data and economic insight on this breakthrough technology. In the most recent campaign, material was produced that met all specifications while also reaching the equipment design throughput targets. The Company will continue with production campaigns to collect more operational data and provide mass-production material for sampling to potential customers.

The achievement of these milestones highlights the potential of the Company’s continuous induction Furnace technology in meeting production targets at competitive cost while reaching our high-energy efficiency target with a near zero-emission process. The Company is updating the engineering for both the process equipment and Riverside facility with an increased production target of up to 20,000 tonnes per annum (tpa), compared to the initial target of 10,000 tpa. This updated throughput will support KORE Power and other prospective customers with whom the Company is in discussions about product qualification, production timelines and potential supply agreements. The Company expects engineering work to confirm this full facility re-design to be completed in the first quarter of 2024 which will support the continued deployment of additional mass production equipment for the start of commercial production for KORE Power in late 2024.

“The results of our ongoing production campaigns clearly demonstrate NOVONIX’s path to profitable production through our first-in-the-world graphitization furnace technology,” said Dr. Chris Burns, CEO of NOVONIX. “Over several production campaigns, the Furnaces delivered in-spec product at a mass scale reaching our target design throughputs. The potential to expand the production output of Riverside to up to 20,000 tonnes per annum is an important opportunity for the Company’s near-term growth plans with significant demand and strong progress in customer development.”

One of the Company’s grades of synthetic graphite produced from the latest production campaigns, GX-23, was analyzed and met all target physical and electrochemical specifications. The below figure shows 130 hours of data from the most recent production campaign completed last week. The continuous output from a single Generation 3 Furnace, producing multiple tonnes of material, was confirmed to meet the target for the degree of graphitization for the product.


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