Battery developer Novonix (ASX:NVX) has secured expanded space at its lithium-ion battery anode material production facilities in Tennessee.

The company’s subsidiary, PUREgraphite, has executed a five-year lease on 3,700 sq m of space, with Novonix acting as guarantor.

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The new lease comes after a period of market analysis by Novonix, with technical and business development meetings with international battery-makers revealing a “strongly growing market” for the anode material product that PUREgraphite makes.

“There is genuine customer interest to support our decision to expand into our new commercial-scale premises,” the company said in a statement.

Shares in the company rose 9 per cent to 44c on the news.

Novonix is co-owner of the Tennessee-headquartered PUREgraphite joint venture, which develops, manufactures and sells high-performance anode materials into the global lithium-ion battery market.

The anode is the positive terminal of a battery that electricity flows into.

PUREgraphite also holds an option to lease additional space in the 11,150 sq m building to help accommodate any future expansion requirements.

Last year, Novonix began making battery cells in Canada. The first batches of cylindrical cells and pouch cells were produced at its battery cell pilot factory in Nova Scotia.

In other ASX battery metals news today:

Infinity Lithium (ASX:INF) may be about to emerge as a key lithium player in Europe. The European Battery Alliance (EBA) has told Infinity Lithium that it’s keen to play a role in facilitating finance for the company’s San Jose project in Spain. Representatives from the EBA and European Investment Bank met with Infinity Lithium in Madrid. Infinity is making progress towards a pre-feasibility study for the project.

Metals Australia (ASX:MLS) finds great graphite at its Lac Rainy project. “Exceptionally wide and high-grade” graphite zones have been intersected during diamond drilling. Results from five drill holes have been published, with every single one returning graphite in some respect. “With such high-grade assay results received from these five holes, the results continue to suggest that Lac Rainy is host to a potentially world-class high-grade natural flake graphite deposit,” director Gino D’Anna said.

Galan Lithium (ASX:GLN) a step closer to PFS at Argentinian project. The company has commenced a preliminary investigation into ion exchange technologies for processing lithium brines from its Candelas lithium brine project located in Argentina. The investigation follows a six-month technical review into alternative processing technologies, with the results of both to be fed into the pre-feasibility study for the project’s potential development.

At Stockhead, we tell it like it is. While Infinity Lithium is a Stockhead advertiser, it did not sponsor this article.

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