Australia's Novonix gains on collaboration for sustainable battery production
09/10/2024 04:00
** Shares of Australia's Novonix NVX.AX rise as much as
15.7% to A$0.85, their highest since May 22
** Battery cell manufacturer signs two-year joint
collaboration agreement with UK-based cobalt and nickel salt
producer ICoNiChem Widnes
** Says project, with a total budget of C$515,686
($377,625.95) between Novonix and ICoNiChem, will focus on
development of nickel-based cathode active materials for battery
cells
** Funding for agreement received from National Research
Council of Canada Industrial Research Assistance Program and
Innovate UK - Novonix
** Says cos have been selected for funding under 2024
Canada-UK critical minerals call for proposals focusing on
advancing projects in renewable energy, electric vehicles, and
electronics
** About 5 mln shares change hands by 0330 GMT, 2.8 times
the 30-day avg
** Novonix stock up 10.9% YTD
($1 = 1.3656 Canadian dollars)
(Reporting by Nikita Maria Jino in Bengaluru)
((Nikita.Jino@thomsonreuters.com;))