Australian battery materials manufacturer NOVONIX has signed an agreement with PowerCo SE. The contract covers the supply of a minimum of 32,000 tonnes of synthetic graphite material. Deliveries will be made over a period of a five-year span starting in 2027. According to the agreement, NOVONIX has to meet specific milestones for mass production and secure financing for the production facilities. Otherwise, PowerCo SE has the right to terminate the contract.
Similar agreement with Stellantis in place
NOVONIX is currently planning to expand its manufacturing capacity in North America. According to the company, the Riverside plant in Chattanooga, Tennessee, is expected to be operational by 2025, producing up to 20,000 tonnes per year. In addition, a second facility is planned in the south-east of the U.S., scheduled to start with an initial capacity of 30,000 tonnes per year which could be expanded to 75,000 tonnes annually. Two weeks ago, NOVONIX already signed a similar supply agreement with Stellantis for up to 115,000 tonnes of synthetic graphite.
Source:
https://www.novonixgroup.com/novonix-and-powerco-agreement/
