Phillips 66 Announces Strategic Investment in NOVONIX, page-12

Wow, not what I was expecting but brilliant! This is a Chess move. I was wondering why NVX was so quiet on their expansion moves- turns out they were negotiating with Phillips to get them to put skin in the game, entice them at a good price, to secure long term supply and fair/perhaps predictable pricing. It is an indication of how much demand NVX thinks there will be for their synthetic graphite going forward-up to ten years out.
This is a blow to Chinese synthetic graphite makers. Haplo, you would know better, but the Chineses anode makers use Gulf coke for feedstock as it is the cleanest or less impurities/pollutants... Don't know the feedstock coke market but Chinese synthetic graphite maybe got a little less ESG, more coal fired power needed, or more expensive to secure good coke on spot market... perhaps they took over a Chinese contract.
Though I wanted a quick dopamine fix, it is clear NVX is maturing on an accelerated timeline with longer term vision. Now that it is not Samsung or Sanyo, they can negotiate better offtake prices as Tesla and VW demand their anodes... shrewd, gives me confidence that I can stop watching so closely now and sit back and wait for the gears and wheels to turn. Perhaps some one can model future revenues, etc. Cool.