I highly recommend you watch this video from the limiting factor...

I highly recommend you watch this video from the limiting factor (Synthetic v Natural graphite anodes).

The research shows that performance can vary and not all natural and synthetic anodes are created equally. The production processes and source of the graphite can make a significant difference.

I have no doubt that Novonix have a great anode but it's likely they are comparing against typical natural anode. Talga have stated that their natural graphite anode performs the same if not better than synthetic and other graphite anodes due to the unique properties of the deposit with "super-homogenous highly crystalline flake graphite naturally sized for anodes". This was confirmed in a 128 page independent report by the CSIRO. This is also reflected in the extremely high yields of 90% Talnode C from the graphite ore compared to other graphite resources.

They've got over 20 PhDs ex-Toyota, Tata, Dyson and Cambridge University alumni working on this too. Surely they're not missing something?

This isn't intended as a downramp on Novonix btw. I believe Novonix and Talga will both be significant suppliers to the battery and EV industry in the future. This is my first post on this forum and I plan to invest here too when I've got some spare cash. Just wanted to provide a balanced view to the comments.