NOVONIX Ltd (AU:NVX) has released an update.
NOVONIX Limited has secured a binding offtake agreement with PowerCo SE to supply a minimum of 32,000 tonnes of high-performance synthetic graphite from 2027 to 2031. This collaboration marks a significant step in NOVONIX’s expansion plans, including the development of their Riverside facility, backed by a substantial grant and tax credit from the U.S. Department of Energy. The company aims to increase its production capacity to meet the growing demand for battery materials in North America.
For further insights into AU:NVX stock, check out TipRanks’ Stock Analysis page.
