Novonix has entered a deal with one of the biggest manufacturers of electric car batteries in the world. Pic: Getty Images
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Brisbane-based NVX shares have rallied ~11% today after the company announced it had inked a deal with one of the biggest manufacturers of electric car batteries in the world, South Korea’s LG Energy Solution (LGES).
The joint research and development agreement (JDA) will see the two companies join forces to research artificial graphite anode material for lithium-ion batteries.
Also, in a separate deal the battery materials and tech company, which has Queensland billionaire Trevor St Baker as a major investor, has agreed to issue an aggregate principal amount of US$30 million unsecured convertible notes to LGES.
These convertible notes will be issued with a conversion price of $1.60 per share.
Upon successful completion of certain development work under the deal, LGES and NVX will enter into a separate purchase agreement pursuant to which LGES will have the option to purchase up to 50,000 tonnes of artificial graphite anode material over a 10-year period from the start of mass production.
LGES is a leading global battery manufacturer with two standalone and five joint venture plants currently operating or being constructed in the US.
The company plans to maximise the benefits from the US Inflation Reduction Act (IRA) by expanding local battery production, as well as establishing a local supply chain for battery components.
“Our partnership with Novonix once again demonstrates LG Energy Solution’s determination to establish a solid battery supply chain in the U.S., complementing our local manufacturing network to meet our customer’s needs for lRA-compliant batteries,” LGES senior vice president of procurement center Dongsoo Kim said in the announcement.
NVX CEO Chris Burns said the company was excited to formalise its work with LGES and establish the path for NVX to become a supplier for its artificial graphite anode material in the US.
“This agreement demonstrates our leading position to establish a supply chain for high-performance artificial graphite for the battery industry in North America,” he said.
NVU will establish its first demonstration site in North America of its Nanoshield Solar technology, following successful trial deployments of Nanoshield Solar in the Philippines and Malaysia.
NVU has signed a memorandum of understanding (MOU) to establish a demonstration and test facility for the trademarked tech in McMinnville, Tennessee, USA.
Nanoshield aims to mitigate accumulation of dust, algae and lichen on the surface of solar panels, to improve efficiency.
The company will establish at least two identical but independent solar installations as ‘test and ‘control’ strings for testing Nanoshield Solar over a section of Daylily Nursery Farm.
The data from the trial will be collected over 4-6 weeks to evaluate the benefits of Nanoshield Solar treatment and enable NVU to showcase its products to potential US-based customers invited to inspect the facility and installations.
NVU will fund the initial deployment, with the Daylily Nursery Farm owner able to purchase the materials and pay for the installation at the completion of the trial.
“We are extremely pleased to be commencing our first trial installation in the US, following recent test site deployments in the Philippines and Malaysia,” managing director Alfred Chong said.
“We believe that Nanoshield Solar has significant application potential for large solar assets globally, and we look forward to updating the market on the commercialisation of this unique technology.”
NVU has filed an International PCT Patent Application PCT/MY2023/050037 pertaining to Nanoshield Solar, with a priority date of May 15, 2023.
The invention is titled An Anti-soiling, self-cleaning and antimicrobial coating for disinfecting surface.
The sports analytics player CAT has announced an update to its Football (Soccer) Pro Video Suite that will provide teams deeper and further insights for the upcoming European season.
The latest update includes new time-saving automations, improved workflows, smarter presentation tools, and faster calculation capabilities.
CAT’s Pro Video platform consists of Focus, Hub, and MatchTracker. Football teams use focus to capture multi-angle video during games or practice while tagging data live or post events for future analysis and presentation.
The company’s Hub solution extends Focus’s capabilities with a cloud-based publishing and sharing platform where presentations and insights can be distributed across sport team’s departments from any location. Performance content can be viewed in real-time, including during matches or between periods.
MatchTracker is a data analysis tool connecting multiple datasets, including wearable data, to video. This allows teams to save time by quickly filtering and visualising insights across matches, series, a season, and even players.
CAT CEO Will Lopes said the Pro Video Suite is becoming the most powerful video tool in sports.
“The industry has been conditioned to use video tools solely for tagging and editing,” he said.
“But when we speak to customers, they don’t want more tags and editing capabilities, they want more time and better insights.
“The upcoming European Football season will witness huge improvement in time-saving and insights with our latest innovations.”
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