Europe we knew. Middle East is the now obvious Lucid connection.
Novonix asks market for $150m and looks at global expansion
The company has also revealed plans for a possible expansion into Europe, the Middle East and Asia.
The funds will be used to expand its anode material production in the US to 10,000 tonnes a year and include site expansion and infrastructure. Anodes are key component of the batteries used in electric vehicles.
Novonix said reaching the 2000 tonnes a year level would allow it to secure multi-year contracts and support further expansion with access to debt funding.
Ann: Equity Raising Presentation, page-23
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