The investment by Phillips 66 will support a capacity expansion of an additional 30,000 mt/year, which is expected to be completed by 2025.
Funded for expansion to 30,000 mt/pa by 2025. Phillips is also expanding into medical and energy storages segments. Just another example of Big oil entering the EV space.
This really sets up Novonix to be integrated into the U.S supply chain with a major partner and supplier of its basic feedstock.
Phillips 66 Announces Strategic Investment in NOVONIX, page-4
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