NVX requests that the trading halt remain in place until the earlier of NVX making an announcement to the market about the material funding arrangement
VML ann
In addition, the suspension is also requested pending a material funding announcement.
NVX Material funding Ann see below
NOVONIX SELECTED FOR US $150 MILLION GRANT FROM U.S. DEPARTMENT OF ENERGY
Chattanooga, Tennessee, October 20, 2022 – NOVONIX Limited (NASDAQ: NVX, ASX: NVX, OTCQX: NVNXF) (“NOVONIX” or “the Company”, a leading battery materials and technology company, today announced that its NOVONIX Anode Materials division was selected to enter negotiations to receive US$150 million in grant funding from the U.S. Department of Energy (DOE) to expand its domestic production of high-performance, synthetic graphite anode materials. Information on the selected projects can be found on the DOE’s website
The funding announced today by the Department of Energy is the first phase of over $7 billion1 in total provided by the President’s Bipartisan Infrastructure Law for the battery supply chain and supports NOVONIX’s execution of its strategic growth plan for synthetic graphite anode materials produced in the U.S. Specifically, the grant funds will be dedicated to the construction of a 30,000 tonnes per annum (tpa) U.S. manufacturing facility, including site selection, plant layout, and engineering design with capability for additional expansion.
DOE’s Office of Manufacturing and Energy Supply Chains (MESC) is responsible for strengthening and securing manufacturing and energy supply chains needed to modernize the nation’s energy infrastructure and support a clean and equitable energy transition. MESC will manage the portfolio of projects with support from DOE’s Office of Energy Efficiency and Renewable Energy’s Vehicle Technologies Office.
The grant is being funded under Area of Interest Two of the recently announced Battery Materials Processing and Battery Manufacturing Funding Opportunity Announcement (FOA), with the main objective of creating battery-grade graphite anode manufacturing capacity in the United States. The Project funded under this award will reduce U.S. reliance on importing this key battery material. China currently dominates both the synthetic and natural graphite markets with 98% and 77% market share, respectively; the rest coming from Japan and Korea2 .
Wouldnt our REE come under a very similar umberella as above with regards to chinas domination of REE market in its processing capacity
VML
MATERIAL FUNDING from the above usage of the term suggests just that MATERIAL being a substantial $sum
IMHO
Are we going to witness the same sort of support for our processing plant in turning Saskatoon along side SRC as a critical minerals hub for North America
Little bit about MESC
About the Office of Manufacturing and Energy Supply Chains
The Office of Manufacturing and Energy Supply Chains is responsible for strengthening and securing manufacturing and energy supply chains needed to modernize the nation’s energy infrastructure and support a clean and equitable energy transition.
The office is catalyzing the development of an energy sector industrial base through targeted investments that establish and secure domestic clean energy supply chains and manufacturing, and by engaging with private-sector companies, other Federal agencies, and key stakeholders to collect, analyze, respond to, and share data about energy supply chains to inform future decision making and investment.
The office manages programs that develop clean domestic manufacturing and workforce capabilities, with an emphasis on opportunities for small and medium enterprises and communities in energy transition.
The Office of Manufacturing and Energy Supply Chains coordinates closely with the Office of Clean Energy Demonstrations for the management of major demonstration projects, and across all of DOE’s programs on manufacturing and supply chain issues, including with the Advanced Materials and Manufacturing Technologies Office (AMMTO) and the Industrial Decarbonization and Efficiency Office (IEDO) in the Office of Energy Efficiency and Renewable Energy.
So thinking out loud with regards to seeing the VML working staff being kept on in the iterim period
and senior staff exiting, could it be that the labour force is going to be a requirement, but management will taken over by the material investor and are therfore no longer required,
JUST A THOUGHT
See how we go
GL to ALL
VML Price at posting:
1.0¢ Sentiment: Buy Disclosure: Held
, a leading battery materials and technology company, today announced that its NOVONIX Anode Materials division was selected to enter negotiations to receive US$150 million in grant funding from the U.S. Department of Energy (DOE) to expand its domestic production of high-performance, synthetic graphite anode materials. Information on the selected projects can be found on the DOE’s website
(20min delay)