NOVONIX EXPANDS INTO NEW US ANODE FACILITY PREMISES
During recent months, the Company has conducted further technical and business development meetings with international battery-makers, providing samples of its anode materials for evaluation. These activities have confirmed that there is a strongly growing market for the anode material product that PUREgraphite has focused upon, and genuine customer interest to support the Company's decision to expand into its new commercial-scale premises.
NOVONIX subsidiary, PUREgraphite LLC, has therefore executed a lease on 3,700 square metres of space at a commercial, and highly-competitive rate per square metre, with NOVONIX acting as guarantor of the lease obligations.
The initial term of the lease is five years, with two options to renew, each for a further five years.
PUREgraphite also holds a right-of-first offer to lease additional space in the 11,150 square metre building to help accommodate the group's future expansion requirements.
As part of these arrangements, PUREgraphite is currently relocating its existing plant, equipment and personnel from the Duncan Street, Chattanooga facility, to its new premises located in Corporate Place, Chattanooga. All recently received and on-order equipment for PUREgraphite's initial commercial-scale anode production requirements will also be installed in the new facility.
About NOVONIX Ltd
NOVONIX Ltd (ASX:NVX) (FRA:GC3) is an integrated 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 14 countries.
NOVONIX is majority-owner of the PUREgraphite battery anode material Joint Venture, headquartered in Chattanooga, Tennessee, USA.
NOVONIX's mission is to accelerate the adoption of batteries for a cleaner energy future.