NVX and LGES Ink JDA with US$30 million Investment

Novonix Limited (ASX: NVX) and LG Energy Solution (LGES) have recently entered into a significant agreement aimed at advancing the development of artificial graphite anode material for lithium-ion batteries. Pursuant to a Joint Research and Development Agreement (JDA), both companies will collaborate closely to achieve progress in this field. In addition to the JDA, Novonix has agreed to issue unsecured convertible notes worth a total of US$30 million to LGES, as per a separate Investment Agreement.

The JDA enables LGES to potentially acquire up to 50,000 tons of anode material from Novonix's U.S. facility over 10 years when mass production begins. This partnership, forged between Novonix, a prominent battery materials and technology company, and LGES, a global battery manufacturer, holds significant potential for advancing battery technology and meeting the demands of the evolving energy landscape.

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