NOVONIX Announces Results of Engineering Study on Proprietary All-Dry, Zero-Waste Cathode Synthesis Process
12 Settembre 2023 - 12:28AM
NOVONIX Limited (NASDAQ: NVX, ASX: NVX) (“NOVONIX” or the
“Company”), a leading battery materials and technology company,
announced today that Hatch Ltd., a global engineering consultancy
firm, has delivered its report that evaluates NOVONIX’s
revolutionary all-dry, zero-waste cathode synthesis process
(“NOVONIX process”) with potentially significant cost and waste
reduction improvements. Hatch was commissioned to conduct a
commercial-scale capital and operating cost comparison study, as
well as a high-level evaluation of plant emissions and impacts to
natural resources between NOVONIX’s patent-pending process and the
conventional, wet process (“conventional process”).
NOVONIX’s all-dry, zero-waste cathode synthesis process was
built upon Dry Particle Microgranulation, which requires fewer
steps than the conventional process, while producing no sodium
sulfate, reducing facility cooling water by an estimated 65% and
eliminating the water needed for core materials processing. The
Hatch 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%. Based on the scoping study
comparing the two processes, NOVONIX’s process is estimated to
consume fewer natural resources, likely requiring essentially no
reagents and generating fewer waste streams, and, as a result, is
likely a more environmentally friendly and sustainable process than
the conventional process
“Hatch’s study supports our expected outcomes of our all-dry,
zero-waste cathode synthesis process, which shows the potential for
significant cost reductions and environmental benefits”, says
NOVONIX CEO Dr. Chris Burns. “The cathode active materials market
is projected to be greater than $100 billion in 2030 and the
opportunity to deploy this new process to the battery industry is
significant. Importantly, NOVONIX’s process is aligned with our
mission of providing revolutionary clean energy solutions to the
battery industry and further extends our competitive strengths in
battery materials. Several potential customers and partners have
already shown significant interest and this study validates the
operating and capital cost savings achievable with our novel
cathode synthesis process.”
NOVONIX recently announced the commissioning of its 10 tonne per
annum cathode pilot line in July 2023 and shared that their cathode
material matches the performance of leading cathode materials from
existing suppliers in full-cell testing. The Company plans to use
its pilot line to continue to strengthen its intellectual property
portfolio and further demonstrate to potential customers the
manufacturability of its long-life cathode materials and
technology, including high-nickel and cobalt-free materials, along
with their performance in industrial format lithium-ion cells. As
the Company continues to advance its commercial engagements it is
considering a pre-feasibility study to further advance the
engineering and scale-up options for NOVONIX’s all-dry, zero-waste
cathode technology.
This announcement has been authorized for release by NOVONIX
Chairman, Admiral Robert J. Natter, USN Ret.
About NOVONIX NOVONIX is a leading
battery technology company revolutionizing the global lithium-ion
battery industry with innovative, sustainable technologies,
high-performance materials, and more efficient production methods.
The company manufactures industry-leading battery cell testing
equipment, is growing its high-performance synthetic graphite anode
material manufacturing operations, and has developed an all-dry,
zero-waste cathode synthesis process. Through advanced R&D
capabilities, proprietary technology, and strategic partnerships,
NOVONIX has gained a prominent position in the electric vehicle and
energy storage systems battery industry and is powering a cleaner
energy future. To learn more, visit us at www.novonixgroup.com or
on LinkedIn and X.
About HatchHatch is a global engineering
consultancy firm that delivers innovative solutions to clients in
the mining, metals, and energy industries. With over 68 years of
experience and more than 11,000 professionals across almost 70
offices worldwide, Hatch has a proven track record of providing
engineering and consulting services that drive value for
clients.
For NOVONIX Limited Scott
Espenshade, ir@novonixgroup.com (investors) Lori Mcleod,
media@novonixgroup.com (media)
Forward-Looking StatementsThis communication
contains forward-looking statements about the Company and the
industry in which we operate. Forward-looking statements can
generally be identified by use of words such as “anticipate,”
“believe,” “contemplate,” “continue,” “could,” “estimate,”
“expect,” “intend,” “may,” “plan,” “potential,” “predict,”
“project,” “should,” “target,” “will,” or “would,” or other similar
expressions. Examples of forward-looking statements in this
communication include, among others, statements we make regarding
our cathode synthesis process and our plans for our cathode
materials pilot line. We have based such statements on our current
expectations and projections about future events and trends that we
believe may affect our financial condition, results of operations,
business strategy and financial needs. Such forward-looking
statements involve and are subject to known and unknown risks,
uncertainties and other factors which may cause our actual results,
performance or achievements to be materially different from any
future results, performance or achievements expressed or implied by
the forward-looking information. Such factors include, among
others, the success of the technology results in industrial format
lithium-ion cells, our ability to scale to other technologies, how
discussions progress with potential buyers, and the accuracy of our
estimates regarding cost savings, market size, expenses, future
revenue, capital requirements and needs for additional financing,
and regulatory developments in the United States, Australia and
other jurisdictions. Detailed information regarding these and other
factors that could affect our business and results is included in
our filings, including the Company's most recent transition and
annual reports on Form 20-F, particularly the “Operating and
Financial Review and Prospects” and “Risk Factors” sections of
those reports. Copies of these filings may be obtained by visiting
our Investor Relations website at www.novonixgroup.com or the SEC's
website at www.sec.gov. Forward-looking statements are not
guarantees of future performance or outcomes, and actual
performance and outcomes may differ materially from those made in
or suggested by the forward-looking statements contained in this
communication. Accordingly, you should not place undue reliance on
forward-looking statements. Any forward-looking statement in this
communication is based only on information currently available to
us and speaks only as of the date on which it is made. We undertake
no obligation to publicly update any forward-looking statement,
whether written or oral, that may be made from time to time,
whether as a result of new information, future developments or
otherwise.
Hatch disclaims any and all liability arising out of, or in
connection with, any third party’s use of, or reliance upon,
information contained in this press release and the use of this
information by any third party is at the risk of that party. The
following items were excluded from the project scope of the Hatch
project: offsite infrastructure and services; utility connections
including water, gas and power; all services are assumed to be
available at the site boundary; storage facility for effluent or
solid residue are assumed to be discharged to environment or stored
by a third party; costs of environmental and ecology related
studies; no allowance for study costs (concept, prefeasibility
and/or feasibility studies prior to detailed
engineering/execution); land acquisitions and associated work land;
schedule acceleration costs; schedule delays and associated costs,
such as those caused by force majeure; permit applications; forward
escalation beyond the estimate base date; government levies and
taxes; sustaining capital costs; detailed owner’s costs; and
tailings or effluent impoundment costs.
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