FUTURE APPOINTMENT OF ANDREW N. LIVERIS TO THE BOARD OF NOVONIXBrisbane, Oct 3, 2017 AEST (ABN Newswire) - NOVONIX Limited (ASX:NVX) ("NOVONIX" or the "Company") is delighted to announce the future appointment of Andrew N. Liveris AO to its Board of Directors as further step in the Company's downstream integration strategy and plans. The appointment will be made following Liveris' transition from his roles with Dow and DowDuPont in 2018.
- Andrew N. Liveris AO, Executive Chairman of DowDuPont and Chief Executive Officer of The Dow Chemical Company, to join the Board of Directors of NOVONIX at a future date as a non-executive director
- Mr Liveris' appointment will be made following the transition from his roles with Dow and DowDuPont in 2018
- Mr Liveris will be instrumental in supporting Novonix's international marketing and alliance efforts and developing relationships in the US$20 billion high-value battery materials sector.
- Mr Liveris will invest A$500,000 into Ordinary Shares of the Company by way of Private Placement, subject to Shareholder Approval at the Company's 2017 AGM.
Mr Liveris is currently the Executive Chairman of DowDuPont, a $73 billion¹ holding company comprised of The Dow Chemical Company and DuPont with the intent to form independent, publicly traded companies in agriculture, materials science and specialty products sectors. Mr. Liveris also serves as Chief Executive Officer of The Dow Chemical Company. He is responsible for the Materials Sciences Division of DowDuPont and Chairs the Materials Sciences Advisory Committee.
Mr Liveris has been a member of Dow's Board of Directors since February 2004, CEO since November 2004 and was elected as Dow's Chairman of the Board effective 1 April 2006. He was appointed Executive Chairman of DowDuPont in May 2016, and assumed that role upon close of the merger transaction between Dow and DuPont, which occurred on August 31, 2017.
His prospective appointment to the Board of NOVONIX follows the recent appointment of Admiral Robert J. Natter to the Board, along with the acceleration of the Company's downstream integration strategy and plans.
A recognized global business leader with more than 40 years at Dow, Mr Liveris' career has spanned roles in manufacturing, engineering, sales, marketing, and business and general management around the world. Mr Liveris' extensive experience and strategic involvement will greatly aid the Company's international marketing efforts and the development of alliance and customer relationships for NOVONIX in the US$20 billion high-value battery materials sector.
During more than a decade as Dow's CEO, Liveris has led the Company's transformation from a cyclical chemicals manufacturing company into a novel enterprise - one powered by science, driven by innovation and delivering solutions to the world. During the past 18 months at Dow Chemical, Mr Liveris has overseen the recently consummated merger between Dow and DuPont - a US$130 billion transaction.
Mr Liveris said he was excited about the opportunity to help create an integrated, global battery materials and specialist equipment company.
"The rechargeable battery market offers huge global growth, with the opportunity to supply differentiated products and establish market share during this relatively early stage of market maturity," said Liveris. "I am excited with the prospect of growing NOVONIX and its technology in the international and especially the U.S. markets. The team is focused on innovation and new manufacturing jobs in the clean energy space - particularly in the United States - something about which I have been passionate for a long time. NOVONIX and its products have great potential in a rapidly growing global market, and I am keen to help realise that potential."
Mr Liveris will serve as a Non-Executive Director of NOVONIX and will particularly assist with market entry and growth opportunities, with an initial focus on North America.
NOVONIX Chairman, Mr Tony Bellas, said that the Board of Directors was delighted to welcome Mr Liveris to the role to accelerate the downstream strategy and early customer acquisition plans.
"As Andrew's first new board appointment when he steps-down from executive duties at Dow and DowDuPont, we are keen to work closely with him as we gear-up for initial production and develop customer relationships," Mr Bellas said.
As part of Mr Liveris' prospective appointment, he will invest A$500,000 into the Company by way of placement of 757,575 Ordinary Shares in NOVONIX at an issue price of A$0.66 per share, subject to Shareholder Approval at the Company's 2017 Annual General Meeting.
About NOVONIX Ltd
NOVONIX Ltd (ASX:NVX) is a developer and supplier of high performance materials, equipment and services for the global lithium-ion battery industry with operations in the USA and Canada and sales in over a dozen countries.
NOVONIX's mission is to accelerate the global development and adoption of Lithium Ion Battery technologies for a cleaner energy future.
Through both its high-performance battery materials and its highest-accuracy battery testing equipment, the Company aims to enhance the performance and reduce the cost of EV-standard and energy storage batteries.