NOVONIX Restricted (NASDAQ:NVX) Q3 2024 Earnings Convention Name October 29, 2024 5:30 PM ET
Firm Contributors
Chris Burns – Founder and Chief Govt Officer
Convention Name Contributors
Chris Burns
Hello, I am Dr. Chris Burns, Founder and CEO of NOVONIX. And welcome to our Third Quarter Actions Report Replace. I am pleased to be right here at the moment, to take you thru the regular progress we have made on this quarter, towards our key actions round our Riverside facility in addition to our cathode commercialization plan, amongst different highlights for the quarter. As all the time, please evaluation our discover and disclaimers after the presentation.
NOVONIX is a number one U.S. based mostly battery supplies and expertise firm, and we’re centered on decrease carbon footprint manufacturing processes, for key supplies for the battery trade. We now have binding offtake agreements, with Panasonic Vitality and KORE Energy for artificial graphite, and we’ll start manufacturing at our Riverside facility proven on the precise right here in Chattanooga, Tennessee subsequent 12 months.
The sector has obtained robust assist, for localizing key supplies for the battery trade and NOVONIX has obtained important assist within the type of $100 million granted from the U.S. Division of Vitality, the Manufacturing and Vitality Provide Chains workplace. And we’re additionally chosen for an allocation of as much as $103 million beneath the Certified Superior Vitality Undertaking tax credit score, or the 48C program.
This authorities assist alongside strategic funding from LG Vitality Resolution, and Phillips 66, has allowed us to make the progress that we’ll discuss at the moment at Riverside, as we glance to have Riverside be the primary giant scale facility, devoted to the manufacturing of artificial graphite, for the battery sector in North America.
Alongside our Anode Supplies group, we even have enlargement now into patented all-dry zero-waste NMC cathode synthesis expertise. We have demonstrated this at pilot scale, with the chance to scale back
