NGen Supports Battery Materials Development Capabilities on...

NGen Supports Battery Materials Development Capabilities

on Canada’s East Coast

NOVONIX Limited (ASX: NVX, OTCQX: NVNXF) (“NOVONIX” or “the Company”) is pleased

to announce it has received CAD$1.675 million from NGen to play a key role in building

Canadian battery materials supply chain.

Next Generation Manufacturing Canada (NGen), the industry-led organization behind Canada’s

Advanced Manufacturing Supercluster, has announced CAD$1.675 million in funding towards

a nearly $18 million investment in facilities, equipment and people led by NOVONIX Battery

Technology Solutions Inc., to develop a world leading Battery Materials Development and

Manufacturing facility.

NOVONIX Battery Technology Solutions was founded by graduates of Dr. Jeff Dahn’s research

group at Dalhousie University and specializes in battery research, cell testing, and materials

development. Along with partner, Well Engineered Inc., NOVONIX will build a state-of-the-art

facility in Dartmouth, Nova Scotia, further developing its world-class battery materials capability.

This transformative project will lead to a simplified manufacturing flow sheet, lowering the overall

cost, and decreasing the environmental footprint of cathode manufacturing.

The new facility will play a key role in building a Canadian battery materials supply chain, limiting

the current dependence on Asia and capitalizing on the tremendous growth in this sector created

by the increased demand for electric vehicles and grid energy storage.

“The technology developed by NOVONIX is transformational and the company has already

made a significant commitment to growth,” said Jayson Myers, CEO, NGen. “NGen funding

allows NOVONIX to increase the project scope and to move more rapidly, bringing in partners

and growing the advanced manufacturing ecosystem to support the global movement towards

sustainability.”

This project is part of a growing portfolio of NGen-funded advanced manufacturing initiatives

under Canada’s Innovation Supercluster Initiative. To date, NGen has approved investments of

CAD$209 million in 135 projects leveraging a total of CAD$515 million in new innovation

spending. NGen continues to invest in collaborative, transformative manufacturing and

technology projects that will leave a lasting legacy for Canada’s advanced manufacturing

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