NOVONIX Synthetic Anode Material Leads the Industry in Environmentally Sustainable Manufacturing Practices

Rhea-AI Summary

NOVONIX Limited (NASDAQ: NVX, OTCQX: NVNXF) announced significant findings from its Life Cycle Assessment (LCA) of the GX-23 synthetic anode graphite, revealing a 60% decrease in global warming potential (GWP) compared to conventional synthetic graphite from Inner Mongolia and a 67% reduction in battery carbon emissions. Conducted by Minviro Ltd, the assessment also highlighted a 40% reduction in GWP for LFP batteries. The results reinforce NOVONIX's commitment to sustainability and a US domestic supply chain for battery materials.

Positive

• 60% reduction in global warming potential compared to conventional synthetic graphite.
• 67% reduction in battery carbon emissions using NOVONIX synthetic graphite.
• Supports creation of a US domestic supply chain for battery materials.
• Assessment complies with ISO standards, confirming credibility.

Negative

• None.

Study Confirms a 60% Decrease in Global Warming Potential and 67% Reduction in Battery Carbon Emissions

BRISBANE, Australia, June 29, 2022 (GLOBE NEWSWIRE) -- NOVONIX Limited (NASDAQ: NVX, ASX: NVX, OTCQX: NVNXF) (“NOVONIX” or “the Company”), a leading battery materials and technology company, is proud to announce that its GX-23 synthetic anode graphite Life Cycle Assessment (LCA) clearly demonstrated an approximate 60% decrease in global warming potential (GWP) relative to the conventional anode grade synthetic graphite produced from Inner Mongolia, China and an approximate 30% decrease in GWP when compared to the anode grade natural graphite in Heilongjiang Province, China. Both regions in China contain the largest operators and producers of synthetic and natural anode grade graphite in the world, accounting for 79% of worldwide production. These findings demonstrate the continued commitment by NOVONIX to be a leader in the battery sector’s clean energy transformation.

“We are excited to release these results, as this assessment is one of many indicators of our priority to make NOVONIX a leader in sustainability and cleaner energy across the automotive and energy storage sectors,” says Dr. Chris Burns, CEO and Co-founder of NOVONIX. “This LCA also helps to illuminate our continued path forward to further reduce the environmental footprint of ourselves and our customers, through the creation of the first US domestic supply chain of battery grade synthetic graphite.”

The results of the LCA conducted by Minviro Ltd, a UK-based and globally recognised sustainability and life cycle assessment consultancy, also reported an approximate 67% reduction in GWP in NMC-811 batteries using NOVONIX synthetic graphite, which is roughly 2.5 times better than the conventional synthetic graphite produced from Inner Mongolia. There was an approximate 40% reduction in GWP in LFP batteries using NOVONIX synthetic graphite vs natural graphite from Heilongjiang Province. The findings also confirm NOVONIX offerings as one of the best in class for lengthening the lifetime of the battery and greater energy efficiency.

NOVONIX commissioned a LCA to support the company’s position at the forefront of sustainable battery research and production. NOVONIX is committed to practicing what it preaches in its quest to develop the cleanest, lowest-rated carbon emission anode materials possible for batteries across the automotive and energy storage industries. The LCA has been critically reviewed by independent LCA experts, which confirm the LCA conducted is in accordance with the ISO-14040:2006 and ISO-14044:2006 standards.

“We are pleased to have supported NOVONIX in quantifying the environmental impact of their GX-23 synthetic graphite product, as well as identifying opportunities for impact mitigation. It is essential to reduce the climate change impact of anode-production in order to produce low-impact batteries,” says Dr. Robert Pell, Founder and CEO of Minviro.

Minviro Ltd. confirmed the preliminary results released in December 2021, and verified all findings.

This announcement has been authorized for release by NOVONIX Chairman, Admiral Robert J. Natter, USN Ret.

About NOVONIX
NOVONIX is a leading battery technology company with operations in both Canada and the United States. NOVONIX provides advanced, high-performance materials, equipment, and services for the global lithium-ion battery industry with sales in 14 countries. We develop materials and technologies to support longer-life and lower-cost batteries that are powering us towards a cleaner energy future.

Our NOVONIX Battery Technology Solutions division, based in Halifax, Nova Scotia, Canada, focuses on innovative battery research and development, along with providing advanced battery testing equipment and services on a global scale.

Our NOVONIX Anode Materials division, located in Chattanooga, Tennessee, USA, manufactures our synthetic graphite anode materials used to make lithium-ion batteries which power electric vehicles, personal electronics, medical devices, and energy storage units. To address the growing industry demand, we are working to increase the production capacity to 10,000 metric tons of synthetic graphite per annum (tpa) by 2023, with further targets of 40,000 tpa by 2025 and 150,000 tpa by 2030.

To learn more about NOVONIX, visit us on LinkedIn, on Twitter or www.novonixgroup.com

About Minviro
Minviro is a London based and globally recognized consultancy and technology company, specializing in carrying out life cycle assessments in the technology metal space. The company provides quantitative environmental and climate impact data for mineral resource projects, battery manufacturers and OEMs to make environmentally informed decisions.

For NOVONIX Limited
Stefan Norbom, ir@novonixgroup.com (investors)
Chantal Theoret, media@novonixgroup.com (media)

FAQ

What does NOVONIX's recent study reveal about GX-23 synthetic anode graphite?

The study shows a 60% decrease in global warming potential compared to conventional graphite and a 67% reduction in battery carbon emissions.

Who conducted the Life Cycle Assessment for NOVONIX?

The Life Cycle Assessment was conducted by Minviro Ltd, a recognized sustainability consultancy.

What are the implications of NOVONIX's findings for the battery industry?

The findings indicate significant environmental benefits, positioning NOVONIX as a leader in sustainable battery materials.

How does NOVONIX's synthetic graphite compare to traditional materials?

NOVONIX's synthetic graphite shows a 60% reduction in GWP compared to conventional synthetic graphite and 40% less GWP compared to natural graphite.

What is the stock symbol for NOVONIX?

The stock symbols for NOVONIX are NVX and NVNXF.