Australia's NOVONIX jumps after signing development deal with PowerCo SE
15/05/2024 01:55
** Shares of NOVONIX NVX.AX rise as much as 7.3% to
A$0.885, set for their best day since April 10, if gains hold
** Stock hit its highest level since April 30
** The battery technology firm enters a testing and
development agreement with PowerCo SE, a Volkswagen Group-owned
battery cell company
** Says co to develop, test and analyze synthetic graphite
anode materials to meet PowerCo's requirements
** Adds parties may sign a supply agreement for developed
products after successful completion of development work
** Stock has risen 1733.3% this year, as of last close
(Reporting by Sneha Kumar in Bengaluru)
((Sneha.Kumar@thomsonreuters.com;))