Battery materials developer, NOVONIX Limited (ASX: NVX) has provided January 2020 update. Its share purchase plan is closing on 10 January 2020 (extended) for shareholders on records on 13 December 2019.
- NVX intends to utilise proceeds to fulfil capacity for SAMSUNG SDI agreement, and R&D processes to improve scalability.
- NVX would supply an initial volume of 500 metric tons in 2020, and both parties would explore R&D opportunities.
By 01:03 PM AEDT, NVX was trading at $0.48, up by 1.05 per cent from the previous close.