NOVONIX Limited (NASDAQ: NVX, ASX: NVX) (“NOVONIX” or “the
Company”), 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.
Two Generation 3 Furnace systems and milling
equipment installed in NOVONIX’s Riverside facility
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.
Product quality data from continuous production
through Generation 3 Furnace production campaign
Process economics for synthetic graphite are defined by three
drivers: raw input costs (primarily needle coke to be supplied
through our strategic partner Phillips 66); energy costs from
Tennessee Valley Authority (TVA); and operating costs, which
include labor and depreciation among other items. Customers require
different product specifications which influence the costs. These
recent production campaigns demonstrate the Company’s ability to
reach competitive cost targets. Currently the Company is targeting
operating margins ranging from 23% to 28% based on estimated sales
prices ranging from $7/kg to $10/kg depending on customer product
specifications. The Company is continuing to work with government
programs for financial support that may further improve NOVONIX’s
cost structure such as from the impact of the 45X Advanced
Manufacturing Production Credit. The below figure shows the
Company’s current estimates for production economics at
Riverside.
Company estimates of production economics for
Riverside
The Company is focused on the buildout of its Riverside facility
to maximize its output and economic return and continues to work
with the US Department of Energy on possible funding support for
its current and future expansions through both grant and loan
programs. The Company expects that these achievements will also
lead to decreased capital costs for future facilities relative to
the Company’s initial estimates. The timing of future site
expansions such as those proposed for North America and Saudi
Arabia is dependent on finalized Riverside engineering (expected in
the first quarter of 2024), customer off-takes and securing of
capital.
This announcement has been authorized for release by NOVONIX
Chairman, Admiral Robert J. Natter, USN Ret.
About NOVONIX
NOVONIX 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, is growing its
high-performance synthetic graphite anode material manufacturing
operations, and has developed an all-dry, zero-waste cathode
synthesis process. Through advanced R&D capabilities,
proprietary technology, and strategic partnerships, NOVONIX has
gained a prominent position in the electric vehicle and energy
storage systems battery industry and is powering a cleaner energy
future. To learn more about NOVONIX visit us on
www.novonixgroup.com, LinkedIn, and X.
For NOVONIX Limited Scott
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
the performance of our Generation 3 Furnaces and their ability to
meet customer specifications, and cost, throughput and
sustainability targets, our increased production target and timing
of commercial production of our Riverside facility, our ability to
achieve profitability and sales price targets, the efforts and
potential benefits of our working with the U.S. Department of
Energy, and the timing of our future site expansions. 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 customers, 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.
Photos accompanying this announcement are available
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NOVONIX (NASDAQ:NVX)
過去 株価チャート
から 5 2024 まで 6 2024
NOVONIX (NASDAQ:NVX)
過去 株価チャート
から 6 2023 まで 6 2024