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NOVONIX Ltd (NVX.AX) NGen Supports Battery Materials Development Capabilities
Brisbane, Australia, Dec 8, 2021 - (ABN Newswire) - NOVONIX Limited (ASX:NVX) (HAM:GC3) (OTCMKTS:NVNXF) is pleased to announce it has received CAD$1.675 million from NGen to play a key role in building Canadian battery materials supply chain.
Next Generation Manufacturing Canada (NGen), the industry-led organization behind Canada's Advanced Manufacturing Supercluster, has announced CAD$1.675 million in funding towards a nearly $18 million investment in facilities, equipment and people led by NOVONIX Battery Technology Solutions Inc., to develop a world leading Battery Materials Development and Manufacturing facility.
NOVONIX Battery Technology Solutions was founded by graduates of Dr. Jeff Dahn's research group at Dalhousie University and specializes in battery research, cell testing, and materials development. Along with partner, Well Engineered Inc., NOVONIX will build a state-of-the-art facility in Dartmouth, Nova Scotia, further developing its world-class battery materials capability. This transformative project will lead to a simplified manufacturing flow sheet, lowering the overall cost, and decreasing the environmental footprint of cathode manufacturing.
The new facility will play a key role in building a Canadian battery materials supply chain, limiting the current dependence on Asia and capitalizing on the tremendous growth in this sector created by the increased demand for electric vehicles and grid energy storage.
"The technology developed by NOVONIX is transformational and the company has already made a significant commitment to growth," said Jayson Myers, CEO, NGen. "NGen funding allows NOVONIX to increase the project scope and to move more rapidly, bringing in partners and growing the advanced manufacturing ecosystem to support the global movement towards sustainability."
This project is part of a growing portfolio of NGen-funded advanced manufacturing initiatives under Canada's Innovation Supercluster Initiative. To date, NGen has approved investments of CAD$209 million in 135 projects leveraging a total of CAD$515 million in new innovation spending. NGen continues to invest in collaborative, transformative manufacturing and technology projects that will leave a lasting legacy for Canada's advanced manufacturing ecosystem.
About NGen - Next Generation Manufacturing Canada
NGen is the industry-led not-for-profit organization that leads Canada's Advanced Manufacturing Supercluster. Its mandate is to help build world-leading advanced manufacturing capabilities in Canada for the benefit of Canadians. NGen works to strengthen collaboration among its membership of more than 4,300 manufacturers, technology companies, innovation centres, and researchers, and provides funding and business support to industry-led initiatives that aim to develop, apply, or scale-up transformative manufacturing solutions in Canada for commercialization in global markets.
About NOVONIX Ltd:
NOVONIX Limited (ASX:NVX) (FRA:GC3) (OTCMKTS:NVNXF) is an integrated developer and supplier of high-performance materials, equipment and services for the global lithium-ion battery industry with operations in the USA and Canada and sales in more than 14 countries. NOVONIX's mission is to support the global deployment of lithium-ion battery technologies for a cleaner energy future.
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