Novonix (ASX:NVX) - Managing Director, Philip St Baker
Managing Director, Philip St Baker
Sourced: Finance News Network
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  • Battery materials company Novonix (NVX) has updated the market on its measures to minimise the impact of COVID-19
  • The Governor of Tennessee issued a Shelter in Place order for all people in the state except essential services
  • Due to this, there will be a two-week closure at the company’s PUREgraphite manufacturing facility in Tennessee
  • Finished anode products from this facility are being shipped to the Canadian facility to allow that work to continue
  • On market close, Novonix is up 9.80 per cent and is trading for 28¢ per share

Battery materials company Novonix (NVX) has updated the market on the measures it is taking to minimise the impact of COVID-19.

PUREgraphite (U.S.)

The Governor of Tennessee issued a Shelter in Place order for all people in the state except essential services. A Shelter in Place order is essentially a stay-at-home policy.

Due to this, there will be a two-week closure at Novonix’s PUREgraphite manufacturing facility in Tennessee, starting on April 4.

The company said there are still a lot of jobs outside the manufacturing area such as business documenting, auditing, engineering, sales and marketing activities. Novonix’s Staff will be working on these from home.

Finished anode product from the Tennessee facility is being shipped to the Canadian facility to allow that work to continue, while the shutdown is in place.

Novonix BTS (Canada)

BTS in Canada continues to operate at this time with split shifts and no more than five people on-site at one time.

At this time, all elements of the business are continuing with minimal impact including equipment sales, battery testing and R&D services. However, some delays are anticipated.

On market close, Novonix is up 9.80 per cent and is trading for 28¢ per share.

NVX by the numbers
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