Novonix - US Government Funding

Novonix Shares Spike 16% Higher Thanks to US Government Funding

https://www.moneymorning.com.au/20210121/novonix-shares-spike-16-higher-thanks-to-us-government-funding.html

Novonix revealed that US Department of Energy (DoE) is willing to fund their development of this graphite anode material

Novonix’s US subsidiary — PUREgraphite — has been selected for a US$5.58 million grant. Money that was awarded under the ‘Advanced Manufacturing Office FY20 Critical Minerals’ decree.

What that means is that the DoE has decided to help fund Novonix’s development. Particularly their synthetic graphite material for batteries. Making them the only graphite-based supplier to be selected under this grant.

That is a ringing endorsement for this tiny company. Highlighting just how valuable their assets and technology may be especially as EVs continue to surge in demand.

Which is obviously why the stock has gone absolutely nuts this year.