Novonix (ASX:NVX) appointed by Lake Resources (ASX:LKE)

• Novonix (NVX) has been appointed by Lake Resources (LKE) to produce high-performance lithium-ion battery test cells using Lake’s lithium carbonate
• Under the agreement, the company will receive lithium carbonate samples from Lake
• The samples will be used with commercial battery cathode precursor materials to form an NMC622 cathode and battery
• Lake’s Managing Director, Steve Promnitz, says Novonix is a highly-respected and groundbreaking battery testing company
• On the market this morning, Novonix is up 11.8 per cent and is trading for $1.71 per share, while Lake is up 6.25 per cent and is trading for 3.4 cents per share

Novonix (NVX) has been appointed by Lake Resources (LKE) to produce high-performance lithium-ion battery test cells using Lake’s lithium carbonate.

The deal is with Novonix’s business ‘Novonix Battery Technology Solutions,” which is based in Nova Scotia in Canada.

Under the agreement, the company will receive lithium carbonate samples from Lake, which will be used with commercial battery cathode precursor materials to form an NMC622 cathode and battery.

Novonix is currently developing ‘million-mile’ battery technologies with anode and cathode materials. It also designs, manufactures and sells high precision battery testing equipment to tier-one battery makers such as Panasonic, CATL, Samsung, SK Innovation, Apple, Bosch, Honda and Dyson.

“Using Novonix’s pilot cell line and proprietary advanced diagnostic tools, the performance of Lake’s high purity, responsibly sourced lithium product will be evaluated for conformity with lithium-ion battery standards,” Lake Resources said.

“Significantly, this data will allow potential users and off-takers of Lake’s product to make direct and relevant comparisons of its performance to familiar cell chemistries,” it added.

Recently, Lake appointed Hazen Research to produce larger samples of battery-quality lithium carbonate for potential offtakers and interested customers.

The first battery quality lithium from Hazen is expected within weeks. That batch will then be processed into NMC622 lithium-ion batteries by Novonix, a process estimated to take at least four months.

Lake’s Managing Director, Steve Promnitz, says Novonix is a highly-respected and groundbreaking battery testing company.

“The team are known as world leaders in new battery technologies, as shown by the quality of their global client base,” he said.

“With EV makers accelerating their production plans, high-purity and responsibly sourced lithium is in increasingly short supply globally. We look forward to expediting the results from Novonix and providing samples to potential off-take partners as soon as possible,” he added.

On the market this morning, Novonix is up 11.8 per cent and is trading for $1.71 per share, while Lake is up 6.25 per cent and is trading for 3.4 cents per share at 10:40 am AEST.