NOVONIX Ltd (ASX:NVX) Equity Raising For Scale-Up of Anode Materials Production
Equity Raising For Scale-Up of Anode Materials ProductionBrisbane, Feb 25, 2021 AEST (ABN Newswire) - NOVONIX Limited (
OTCMKTS:NVNXF) is pleased to announce that it is undertaking a capital raising to raise approximately $146 million, comprising:
- a fully underwritten placement to institutional and sophisticated investors to raiseapproximately $115 million within NOVONIX s current placement capacity under ASXListing Rule 7.1 (Institutional Placement), through the issue of 39.7 million NewShares (representing approximately 11.3% of the total shares of the Company prior tothe issue of New Shares);
- subject to obtaining shareholder approval and completion of the Institutional Placementand SPP, a non-underwritten placement of new shares, at the same issue price pernew share as the Institutional Placement, to each of the following directors of the Company or entities associated with them whic
Why the Novonix (ASX:NVX) share price jumped 11% this morning
Nikhil Gangaram | February 12, 2021 2:05pm |
More on: Image source: Getty Images
Novonix Ltd(ASX: NVX) shares were flying this morning after the company announced it will extend its research sponsorship agreement with Dalhousie University. At one stage during morning trade, the Novonix share price was up nearly 11% to $2.99.
However, at the time of writing, Novonix shares have retreated to $2.73, up 1.11% for the day so far.
What moved the Novonix share price?
The Novonix share price is climbing today after the company reported extending its sponsorship of Professor Mark Obravac’s Research Group for a further five years.
NOVONIX Ltd (ASX:NVX) US$5.57M Award from the U.S. Department of Energy
PUREgraphite Awarded US$5.57M from the U.S. Department of Energy (DOE) for New Technology Development
US$5.57M Award from the U.S. Department of EnergyBrisbane, Jan 21, 2021 AEST (ABN Newswire) - NOVONIX Limited (
OTCMKTS:NVNXF) is pleased to announce that its wholly owned, U.S.-based subsidiary, PUREgraphite, has been selected to receive a US$5,577,738 grant under the Advanced Manufacturing Office FY20 Critical Minerals FOA (Funding Opportunity Announcement): Next-Generation Technologies and Field Validation (DEFOA-0002322).
This U.S. Department of Energy FOA specifically highlighted processing of battery critical minerals including synthetic graphite. The submission from PUREgraphite, based in Chattanooga, Tennessee, was the only graphite-based project to be funded under this FOA.
DOE awarding more than $50M to 15 projects to advance critical material innovations
The US Department of Energy (DOE) is awarding more than $50 million in funding for 15 projects focused on field validation and demonstration as well as next-generation extraction, separation, and processing technologies for critical materials.
Critical materials are used in many products important to the US economy and energy technologies, such as rare-earth elements used to manufacture high-strength magnets for offshore wind-turbine generators and lithium and cobalt in lithium-ion batteries for electric vehicles.
Projects selected under this funding opportunity announcement will reduce both the costs of critical materials and the environmental impacts of production. The projects are divided into two main topic areas:
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