Australia's Novonix inks deal to supply synthetic graphite to Stellantis
10/11/2024 23:15
Nov 11 (Reuters) - Australian battery maker Novonix
NVX.AX said on Monday it had signed a binding off-take
agreement with automaker Stellantis STLAM.MI to supply
high-performance synthetic graphite material to its cell
manufacturing partners in North America.
As part of the agreement, the Brisbane-headquartered firm
will supply a minimum of 86,250 metric tons, up to a target
volume of 115,000 metric tons of synthetic graphite from its
Riverside facility in Chattanooga, Tennessee, to Stellantis'
cell manufacturing partners in North America from 2026 until
2031.
"This contract allocates the remainder of our available
volumes at our Riverside facility and a portion of volumes to be
produced at our planned greenfield facility," Novonix CEO Chris
Burns said.
The Australian firm also said that it was making progress on
building a new production facility in the southeastern United
States which will boast an initial capacity of 30,000 metric
tons per annum (tpa) and plans to expand that facility to 75,000
tpa.
(Reporting by Rajasik Mukherjee in Bengaluru; Editing by Lisa
Shumaker)
((Rajasik.Mukherjee@thomsonreuters.com;))