Battery anode facility. Source: NOVONIX
The Market Online - At The Bell

Join our daily newsletter At The Bell to receive exclusive market insights

  • Novonix (ASX:NVX) teams up with Panasonic Energy to supply 10,000tpa of anode materials for North American EV operations
  • Panasonic is working to expand its production of EV batteries in North America to meet the increased demand
  • Novonix’s Riverside facility is the first large-scale production site dedicated to high-performance synthetic graphite for the battery sector in North America
  • NVX has plans to grow output from 10,000 tpa to 20,000 tpa to meet anticipated customer demand
  • NVX shares are up 17.9 per cent, trading at 72.5 cents at 11:46 am AEDT

Battery materials and technology company Novonix (ASX:NVX) is teaming up with Panasonic Energy to supply battery anode materials for its North American EV operations.

The binding off-take agreement is for 10,000 tonnes of high-performance synthetic graphite anode material from Novnix’s Riverside facility in Chattanooga, Tennessee.

Novonix’s Riverside facility will become the first large-scale production site dedicated to high-performance synthetic graphite for the battery sector in North America.

As a leading battery cell provider, Panasonic is working to expand its production of EV batteries in North America to meet increased demand while also increasing the percentage of materials procured locally.

Panasonic intends to use the materials across its multiple US plants from 2025 to 2028. During the term, if additional volumes are requested by Panasonic, NVX said it would “use its best effort” to deliver the increased volumes.

Historically, NVX and Panasonic Energy began working together on product sampling and testing after signing a memorandum of understanding with subsidiary, Sanyo Electric back in 2019.

“Off-take agreements with high-quality partners such as Panasonic Energy solidify NOVONIX’s position as a leader in onshoring the supply chain of synthetic graphite and accelerating the adoption of clean energy in the industry,” NVX CEO Chris Burns said.

Production is expected to take off in late 2024, with plans to grow output to 20,000 tonnes per annum (tpa) to meet anticipated customer demand.

NVX shares were up 17.9 per cent, trading at 72.5 cents at 11:46 am AEDT.

nvx by the numbers
More From The Market Online
The Market Online Video

HotCopper Highlights: Qatari no-shows; uranium bulls are back; sweating the small stuff & more

Good Afternoon and welcome to the end of another week, I’m Jon Davidson and this is HotCopper Highlights, a segment where we go over
Silver bull concept

Week 5 CY26, wrapped: Silver outpaces NVIDIA(!), Oz CPI close to 4%; rare earth stocks shocked

It’s well and truly Trump 2.0 and we’ve had another very interesting start to the year.
yellowcake

CY24 all over again: Uranium back to US$100/lb as data centre power demand, everything rally join forces

If you want to find happy investors on the ASX, you'd probably be hard-pressed than anybody…

Manuka ramps up at Wonawinta, Mt Boppy on ‘outstanding’ 10-year mine plan

Manuka Resources (ASX: MKR) has revealed a robust 10-year mine plan for the Wonawinta silver and…