Sweet!
Net proceeds will fund expansion capex to scale proprietary anode material production from
500 to 2,000 tonnes per annum over 2020-2021 required to meet customer demand, provide
working capital to fulfil an initial SAMSUNG order, facilitate development and commercialization
of the DPMG technology for cathode and other million-mile battery innovations, redeem circa
$18.74 million of convertible notes, repay short term loans from directors and SBIF of $6.76
million, and provide general working capital. NOVONIX anticipates that the expansion capex
will, subject to prevailing market conditions, provide a basis for subsequent plant expansion to
occur through debt funding.
Sweet!Net proceeds will fund expansion capex to scale...
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