NOVONIX

NOVONIX Closes Investment and Supply Agreement with KORE Power

Retrieved on: 
Monday, January 31, 2022
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NOVONIX Limited (ASX: NVX, OTC: NVNXF) (NOVONIX), an advanced battery materials and technology company, today announced the execution of definitive transaction agreements and closing of its investment and supply agreements with KORE Power, Inc. (KORE Power) to advance and strengthen the domestic lithium-ion battery supply chain.

Key Points: 
  • NOVONIX Limited (ASX: NVX, OTC: NVNXF) (NOVONIX), an advanced battery materials and technology company, today announced the execution of definitive transaction agreements and closing of its investment and supply agreements with KORE Power, Inc. (KORE Power) to advance and strengthen the domestic lithium-ion battery supply chain.
  • Under the terms of a Securities Purchase Agreement entered into between NOVONIX and KORE, NOVONIX has purchased 3,333,333 shares of KORE Power common stock ("Shares") at an issue price of USD $7.50 per share, representing approximately 5% of the common equity of KORE Power.
  • An Appendix 2A has been lodged with ASX today with respect to the NOVONIX Shares issued to KORE Power.
  • As part of the transaction, NOVONIX and KORE Power have also entered into a binding Supply Agreement, under which NOVONIX will become the exclusive supplier to KORE Powers U.S. large scale battery cell manufacturing facility.

NOVONIX Announces Intent to Enter Supply Agreement and Make Strategic Investment in KORE Power

Retrieved on: 
Tuesday, January 25, 2022
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NOVONIX and KORE Power began working together in 2019 when the parties entered into testing agreements to focus on validation and development of KORE Powers battery cell technologies.

Key Points: 
  • NOVONIX and KORE Power began working together in 2019 when the parties entered into testing agreements to focus on validation and development of KORE Powers battery cell technologies.
  • Under the proposed Securities Purchase Agreement, NOVONIX would agree to purchase 3,333,333 shares of KORE Power common stock ("Shares") at an issue price of $7.50 per share.
  • Simultaneously with the contemplated investment, NOVONIX and KORE Power shall enter into a supply agreement on mutually agreed terms.
  • Optimized by its battery management system, KORE Power designs and manufactures its proprietary NMC and LFP cells, VDA modules and packs.

NOVONIX Announces Intent to Enter Supply Agreement and Make Strategic Investment in KORE Power

Retrieved on: 
Monday, January 24, 2022
Chemicals, Plastics, Other Energy, Manufacturing, Alternative Energy, Energy, Other Manufacturing, Securities Exchange Act of 1934, VDA, Technology, Tier 1, Documentation, Private Securities Litigation Reform Act, LFP, Kilowatt-hour, CEO, Buckeye, Arizona, ASX, KORE, OTC, Industry, Motor vehicle, NVX, United, Letter, Communication, Cell, Energy Independence and Security Act of 2007, NMC, Partnership, Securities Act of 1933, Fine chemical, Lithium, Renewable energy, Electric battery, Share (finance), NOVONIX, KORE Power, NOVONIX, KORE POWER

NOVONIX and KORE Power began working together in 2019 when the parties entered into testing agreements to focus on validation and development of KORE Powers battery cell technologies.

Key Points: 
  • NOVONIX and KORE Power began working together in 2019 when the parties entered into testing agreements to focus on validation and development of KORE Powers battery cell technologies.
  • NOVONIX and KORE Power have been actively working together to improve battery technology utilizing NOVONIXs proprietary cell testing technologies, and these agreements deepen our longstanding collaboration, said Dr. Chris Burns, NOVONIX Co-Founder and CEO.
  • Under the proposed Securities Purchase Agreement, NOVONIX would agree to purchase 3,333,333 shares of KORE Power common stock ("Shares") at an issue price of $7.50 per share.
  • Simultaneously with the contemplated investment, NOVONIX and KORE Power shall enter into a supply agreement on mutually agreed terms.

Phillips 66, NOVONIX Sign Technology Development Agreement to Advance Production of Lithium-Ion Batteries in North America

Retrieved on: 
Wednesday, January 19, 2022
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Phillips 66 (NYSE: PSX) and NOVONIX Limited (ASX: NVX, OTC: NVNXF) today announced they have signed a technology development agreement to advance the production and commercialization of next-generation anode materials for lithium-ion batteries.

Key Points: 
  • Phillips 66 (NYSE: PSX) and NOVONIX Limited (ASX: NVX, OTC: NVNXF) today announced they have signed a technology development agreement to advance the production and commercialization of next-generation anode materials for lithium-ion batteries.
  • Phillips 66 became a major investor in NOVONIX in September of 2021, when it acquired a 16% stake in the company.
  • The investment is supporting NOVONIXs growth as it scales up production and develops new technologies for higher-performance energy storage applications.
  • Phillips 66 is a leading global manufacturer of specialty coke, a key precursor to the synthetic graphite anode material NOVONIX produces.

 Phillips 66 Announces Strategic Investment in NOVONIX

Retrieved on: 
Monday, August 9, 2021
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View the full release here: https://www.businesswire.com/news/home/20210809005472/en/

Key Points: 
  • View the full release here: https://www.businesswire.com/news/home/20210809005472/en/
    This strategic investment enables Phillips 66 to directly support the development of the U.S. battery supply chain, said Greg Garland, Chairman and CEO of Phillips 66.
  • We look forward to continuing to build our relationship with Phillips 66 as both a strategic partner and investor.
  • Under the terms of the agreement, Phillips 66 will subscribe for 77,962,578 ordinary shares of NOVONIX for a total purchase price of US$150 million.
  • The investment by Phillips 66 will support a capacity expansion of an additional 30,000 mt/year, which is expected to be completed by 2025.