Australia's Novonix signs deal to supply synthetic graphite to Panasonic Energy (updated)

Panasonic Energy India

08/02/2024 23:17

(Updates with details on the deal)
       Feb 9 (Reuters) - Australian battery manufacturer
Novonix  NVX.AX  said on Friday it had signed a binding off-take
agreement with peer Panasonic Energy to supply high-performance
synthetic graphite anode material to its North American
operations.
    Under the deal, Novonix will supply 10,000 tonnes of
synthetic graphite from its Riverside facility in Chattanooga,
Tennessee to Panasonic Energy's U.S. plants from 2025 till 2028.
    "Off-take agreements with high-quality partners such as
Panasonic Energy solidify Novonix's position as a leader in
onshoring the supply chain of synthetic graphite and
accelerating the adoption of clean energy in the industry,"
Novonix CEO Chris Burns said.
    Novonix said it had begun working together with Panasonic
Energy on product sampling and testing after signing a
memorandum of understanding with subsidiary, Sanyo Electric, in
2019.    

 (Reporting by Shivangi Lahiri in Bengaluru; Editing by Anil
D'Silva and Shilpi Majumdar)
 ((Shivangi.Lahiri@thomsonreuters.com;))