- Supports proprietary cathode synthesis technology pilot line production and demonstration
- Adds artificial intelligence (AI) models to cloud-based data management and analytics products
BRISBANE, Australia, Sept. 27, 2023 (GLOBE NEWSWIRE) -- NOVONIX Limited (NASDAQ:NVX, ASX: NVX)) ("NOVONIX" or the "Company"), a leading battery materials and technology company, announced that its Battery Technology Solutions division in Nova Scotia, Canada is receiving up to CAD$3 million (USD$2.23 million) in research and development funding and advisory services from the National Research Council of Canada Industrial Research Assistance Program (NRC IRAP).
NOVONIX will use the funds to advance two important research and development initiatives aimed at enhancing its battery materials and technology projects: the Company's all-dry, zero-waste cathode materials development and pilot line; and a new technology to predict the lifespan of lithium-ion batteries that is supported by the Company's recently announced collaboration with SandboxAQ that leverages their AI-driven chemical simulation software.
"We are honored to receive this funding and grateful to NRC IRAP for their support," said NOVONIX CEO, Dr. Chris Burns. "Lithium-ion battery tailwinds have accelerated quickly on the back of public policy support, increasing private sector investment, and strong electric vehicle demand. We expect this trend to grow, underscoring the increasing need for NOVONIX's materials technologies and advanced battery testing expertise that support cleaner high-performance materials."
Growth of All-Dry, Zero-Waste Cathode Pilot Line and Materials
In July 2023, NOVONIX commissioned its all-dry, zero-waste cathode pilot line and announced that its material matched the performance of leading cathode materials from existing suppliers in full-cell testing. The Company also recently shared the results of an independent engineering study by Hatch Ltd. that shows potentially significant cost ...