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NOVONIX LIMITED - Corporate Spotlight

Improving batteries for electric vehicles, phones, laptops, cordless equipment and... Improving batteries for electric vehicles, phones, laptops, cordless equipment and renewable energy storage. Accelerate your battery research, Make better battery cells.More

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Corporate Spotlight

Improving batteries for electric vehicles, phones, laptops, cordless equipment and renewable energy storage. Accelerate your battery research, Make better battery cells.
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NVX Tennessee Graphite Facility Temporarily Closes

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COVOID-19 CORPORATE UPDATE

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COVOID-19 CORPORATE UPDATE

ASX Announcement 23rd March 2020



 NOVONIX Limited (ASX: NVX) (“NOVONIX” or “the Company”) hereby provides a specific COVID-19 Update in the context of the various government measures being implemented in the jurisdictions in which the Company operates. 


On 10 March NOVONIX commenced the implementation of a COVID-19 Response Plan, and on 12 March, implemented a companywide COVID-19 Protocol applying to all staff, corporate and operational, in all the Company’s operating locations. 


The COVID-19 Protocol and Response Plan is focused on protecting people first and ensuring NOVONIX (and its subsidiaries) is implementing the best practices possible to minimise the various risks arising from COVID-19, while maintaining business activities where it is safe to do so.


 To date we have been able to maintain all core operating activities and functions at both PUREgraphite in Chattanooga Tennessee and NOVONIX BTS in Halifax Nova Scotia. We have had all staff return to their hometown (or an alternative home-base), cancelled all non-essential travel, implemented cleaning and social distancing practices, home based work, two shift operation and controls over visitors to our operations, cancelling most. 


To date, NOVONIX has not experienced any material delays to the commissioning of the PUREgraphite anode material production plant arising from COVID-19. The PUREgraphite team has finished construction and is in the final stages of commissioning its first commercial production system. 


NOVONIX expects to be producing finished product from this system at the end of March 2020, subject to unforeseen COVID-19 related events that may impact those plans. 


PUREgraphite’s critical supply chains are predominantly within the USA and are currently functioning as normal. Additionally, PUREgraphite has built-up a significant inventory of precursor feedstock materials on site to support operations for at least six months. Provided operations continue despite COVID-19 risks, NOVONIX has the personnel and the supplies locally to continue operating and implementing its business plan with minimal change.


 NOVONIX does not expect that short-term shut-downs or a major downturn in the global economy arising from the impact of COVID-19 would alter the current business plan for PUREgraphite. The expected medium-term and long-term demand growth for battery anode materials remains strong, driven by demand growth for electric vehicles and energy storage.


READ THE FULL ANNOUNCEMENT HERE



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