Media Watch - NVX related, page-4253

These are my thoughts, not in great detail, but just a quick overview.

NASDAQ is the fall back plan in the short term if these two options don't execute:

1. US Bipartisan Infrastructure Framework, once fully approved and signed by POTUS will unlock USD $6 billion in funding for battery R&D, manufacturing and expansion. These grants are to the tune of USD $50 -100 million each. Novonix could potentially access under all three categories with BTS and Novonix Anode/Cathode Materials. This could provide USD $50 - $200 million in grants if the company is successful in application and if the bill passes. I am pretty sure we are expecting an update in the next week or so on the bill. Given that Novonix is now the only fully localised BAM supplier to the US, they are filling a critical segment that US congress have identified in their 100 day critical minerals supply chain. IMO will be a top of the list for funding.

2. US DOE Loan Program. USD $40 billion allocated. Over $80 billion of applications in currently. Novonix has indicated they will use debt funding to scale the business. One of the key milestones for this is the 2000TPA factory being completed. Last of the Gen 3 furnaces are being installed now, with completion date before end of 2021. How much would they ask to borrow, that's anyone's guess. In our favour is US Secretary of Energy, used to work with Andrew Liveris at DOW. She is also going to be checking out Big Blue in few weeks in person.

If Novonix can get a slice of the two points above, I expect this will enable European expansion starting in 2022 and additional anode facilities in the US without raising funds via NASDAQ listing. Maybe even a Cathode factory, but, I think they are still working the best COA and developing IP to maximise this division.

I still believe it will list on the NASDAQ (Phillips 66 would absolutely want this on there), but they are not rushing as the two other options short term make much better use of capital and less dilution.

I could be completely wrong. Happy to hear others points of view.