CANBERA (dpa-AFX) - Novonix Limited (NVX, NVX.AX), a battery materials and technology company, and Stellantis NV (STLA) have signed a binding offtake agreement for the supply of high-performance synthetic graphite material. The agreement covers a minimum of 86,250 tonnes, with a target volume of up to 115,000 tonnes, to be delivered to Stellantis' cell manufacturing partners in North America. The supply will begin in 2026 and continue over a six-year term, sourced from NOVONIX's Riverside facility and a planned expansion site.
Novonix noted that its Riverside facility is poised to become the first large-scale production site dedicated to high-performance synthetic graphite for the battery sector in North America and is slated to begin commercial production in 2025, with plans to grow output to 20,000 tonnes per annum ('tpa') to meet current customer commitments. Previously, the company announced the U.S. Department of Energy Office of Manufacturing and Energy Supply Chains or 'MESC' awarded the Company a US$100 million grant and was selected for a US$103 million investment tax credit towards the funding of the Riverside facility.
The company is also advancing plans to build a new production facility in the southeastern United States, initially with a capacity of 30,000 tonnes per annum, with plans to expand it to 75,000 tpa.
Novonix said it remains in discussions with the DOE Loan Program Office for an Advanced Technology Vehicles Manufacturing Program loan to support the construction of this new production facility. Novonix's current plans call for total production to increase to at least 150,000 tpa of synthetic graphite material to accommodate anticipated customer demand.
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