This deal is not as groundbreaking as it initially seems. They will do engineering for the next 8 months and construction to begin in 2024 subject to approval of the Saudi government.
NVX will be providing IP royalty free.
We are already haemorrhaging money and this will not produce any income for at least 2 years. Luckily the Saudi gov have deep pockets and will probably contribute a large portion to this if they support these guys. 2 have 22 and 25yrs experiences at Saudi Aramco so they will have heavy hitting contacts.
This will probably slow the drop of the share price but still won’t necessarily guarantee a big increase.
Ann: NOVONIX Enters JV to Produce Anode Material in MENA Region, page-13
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