Summary

• Highly respected and ground-breaking battery testing company NOVONIX Limited has been appointed by clean lithium developer Lake Resources to produce NMC622-based lithium-ion battery (LIB) test cells.
• Processing of the first batch of lithium carbonate into NMC622 LIBs may take a minimum of four months, with the first results expected two months after the production of cathode material.
• NOVONIX is creating ‘million mile’ battery technologies with groundbreaking cathode and anode materials.
• NOVONIX’s mission is to support the global deployment of LIB technologies for a cleaner energy future.

Read how the media is promoting the agreement between Novonix and Lake. Amazing...

NOVONIX Inks Agreement with Lake Resources to Produce High-Performance Lithium-Ion Battery Test Cells

Electric vehicle makers are accelerating their production plans. On the other side, high-purity and responsibly sourced lithium are in increasingly short supply globally. Reciprocating to the increasing demand for high-performance materials, equipment and services for the global LIB industry, NOVONIX Limited (ASX:NVX) has fetched ample market attention of late.

NVX share price traded up 8.85 per cent on the ASX to $ 1.66 on 27 August 2020 following the the Company’s latest ASX update. NOVONIX has advised that it has signed a new agreement with Lake Resources NL (ASX:LKE) to produce high-performance LIB test cells.

NVX shares traded at $1.62 mid-day on 28 August. The stock has provided ~559% return over the last six months.

NOVONIX Appointed by Lake Resources to Produce LIB Test Cells

Lake Resources has appointed NOVONIX Battery Technology Solutions in Nova Scotia, Canada, to produce high-performance LIB test cells. The production will use Lake Resources’ lithium carbonate samples, compared to industry-leading materials.

ALSO READ: NOVONIX Marking Strong Presence in Rapidly Growing Advanced Materials Market

Agreement Specifics

Lake Resources will provide lithium carbonate samples to the Company. These samples will be used along with commercial battery cathode precursor materials. Together, they would form an NMC622 cathode and battery.

The Company’s pilot cell line and proprietary advanced diagnostic tools coupled with Lake Resources’ high purity and responsibly sourced lithium product are likely to gauge conformity with LIB standards. Moreover, this data may permit potential users and off-takers of Lake Resources’ product to make direct, relevant comparisons of its performance to familiar cell chemistries.

GOOD READ: NOVONIX Advancing Well With Its Patented Advanced Cathode Material Manufacturing Method

Agreement Pipeline

To develop lithium carbonate samples from the lithium chloride produced by the technology partner Lilac Solutions, Lake has appointed Hazen Research. This will ensue at Lake Resources’ pilot plant in California. Lilac Solutions has previously produced 99.9 per cent pure lithium carbonate from this lithium chloride via conventional lithium carbonate process.

The first battery quality lithium carbonate samples are likely to be produced by Hazen Research within weeks. Reportedly, Lake Resources is confident that high purity lithium carbonate will be confirmed, as results obtained from the pilot plant are similar to prior benchtop testing.

This is when the NOVONIX agreement timeline comes into the spotlight.

The first batch of lithium carbonate will be processed into NMC622 LIBs by NOVONIX. This is expected to take a minimum of four months. First results are expected two months after the cathode material is produced, as per the company.

Concurrently, NOVONIX is creating ‘million mile’ battery technologies with groundbreaking cathode and anode materials. The Company designs, manufactures, and sells high precision battery testing equipment to Tier 1 battery makers and OEMs in fifteen nations. Few consumers include SK Innovation, Apple, Panasonic, CATL, Bosch, Honda, Samsung, and Dyson.