BRISBANE, Australia, June 27, 2024 (GLOBE NEWSWIRE) -- NOVONIX Limited (NASDAQ:NVX, ASX: NVX)) ("NOVONIX" or "the Company"), a leading battery materials and technology company, today announced it has been granted a patent for its proprietary all-dry, zero-waste cathode synthesis technology in Japan. This patent (Patent JP7504195) furthers NOVONIX's position as a leading provider of innovative technologies serving the electric vehicle and energy storage sectors by utilizing its all-dry, zero-waste cathode processing to produce high-quality single-crystal NMC powders. The Company currently has 10 families of cathode process patent applications in various stages of examination across different jurisdictions.
Dr. Chris Burns, CEO of NOVONIX, said, "NOVONIX's cathode process is a groundbreaking innovation that offers a transformative method of cathode production, resulting in a more economical and environmentally sustainable cathode material. Obtaining patent protection for our proprietary process in Japan, a key market for the battery industry, is a significant milestone on our road to commercializing this technology."
In September 2023, NOVONIX shared the results of an engineering study conducted by Hatch Ltd., a global engineering consultancy firm, on the Company's cathode synthesis process. The report highlighted potentially significant cost and waste reduction improvements over the conventional cathode synthesis process. The study found that NOVONIX's process may potentially reduce power consumption by an estimated 25% and practically eliminate waste byproduct generation over the conventional process. These factors contributed to a potential processing cost reduction of an estimated 50% (excluding material feedstock costs) and potentially lower capital costs by an estimated 30%.