Ann: Phillips 66 Announces Strategic Investment in NOVONIX, page-117

So obvious the plan with the newly acquired funds.

Company did not need the funds yet for 2025 plan and could have raised later at a higher premium. Very correct - management are very accomplished group - this early capital will be put to use much sooner for the earlier supply requirements of the soon to be supply agreements. Company knows where it stands with these future supply agreements and they clearly see the requirement to upscale sooner. No doubt the end users are asking as much - when can you provide to scale?
This is a massive early bonus and will bring forward the next 30,000t - perhaps even more.

Good luck traders - how many burned on this surprise - 16% is peanuts seriously on a stock such as this when in 5 years or less most of us will be on 500%+ - some are close already. Fair enough though - all to their own on investing choices/strategies.