NOVONIX and Harper International Enter Licensing Agreement for Graphitization Furnace Technology

Licensing Agreement and Technology Rights - NOVONIX has entered into a licensing agreement with Harper International Corporation for the exclusive rights to use its continuous, induction-based graphitization furnace technology [2] - The agreement grants NOVONIX the exclusive license to further develop the technology for thermal production of graphite material used in the battery anode market [1] - NOVONIX must make an initial payment within 12 months of the agreement's effective date to secure the exclusive license [1] - Upon meeting performance objectives and paying additional licensing fees, NOVONIX gains the right to build equipment using the licensed technology, either internally or through approved sublicensees [1][4] - The license is exclusive for up to seven years in the field of thermal production of synthetic graphite for battery anodes, with certain limited exceptions [4] - After seven years, NOVONIX will retain a perpetual, non-exclusive license to the technology for its own use or through approved sublicensees [4] Production and Expansion Plans - NOVONIX's Riverside facility in Chattanooga, Tennessee, is set to become the first large-scale production site for high-performance synthetic graphite in North America [3] - The facility is expected to begin commercial production later this year, with plans to increase output to 20,000 tonnes per annum to meet customer commitments [3] - The company has secured significant funding for its production facilities, including a US$100 million grant from the U S Department of Energy (DOE) and a US$103 million investment tax credit [3] - NOVONIX has also received a conditional commitment for a US$754 8 million direct loan from the DOE Loan Programs Office to partially finance a new production facility, NOVONIX Enterprise South, also in Chattanooga [3] Strategic Partnerships and Industry Position - NOVONIX and Harper have a long-standing strategic partnership, with a history of collaboration on innovative graphitization furnace technology for the lithium-ion battery sector [9] - The company is a leading battery technology company, focusing on sustainable technologies, high-performance materials, and efficient production methods for the global lithium-ion battery industry [4][5] - NOVONIX has developed a patented all-dry, zero-waste cathode synthesis process and manufactures industry-leading battery cell testing equipment [4][5] - Through advanced R&D, proprietary technology, and strategic partnerships, NOVONIX has established a prominent position in the electric vehicle and energy storage systems battery industry [5]