OTCMKTS:NVNXF) provides the following update regarding the planned delivery schedule for the contract to supply Samsung SDI with 500 tons of the PUREgraphite synthetic anode material for use in Lithium Ion batteries.
As previously advised, Novonix is in the process of expanding its production capacity for battery-grade synthetic graphite material. The initial phase target capacity is 2,000 tons/annum and will utilize proprietary new furnace technology developed under Novonix's strategic alliance with US-based Harper International Corporation ("Harper").
In this context, Novonix and Samsung SDI have agreed that the full production qualification program should be based around material produced in the 2,000 ton per year expansion.