Novonix Limited (ASX:NVX), via an ASX announcement on 22 December 2020, shared that it will be entering into a strategic partnership with US-based firm Harper International Corporation to develop specialised furnace technology. This particular technology will contribute towards improving the manufacturing process of NVX’s synthetic graphite.
According to the agreement, it is Novonix’s responsibility to procure from Harper, and from Harper to develop systems of thermal processing material for the battery anode market and supply to Novonix.
In the early 1900’s, John L Harper patented the first ever electric furnace and that is where Harper derives its name and technological origins from. Today, Buffalo, New York based Harper, is well-known as a pioneer in the industry with functioning knowledge and expertise focused on engineering and production of high temperature thermal processing systems.
Dr Chris Burns, Novonix chief executive said that Harper has an excellent track record and an unmatched experience. That is what makes it an ideal company to work with on something crucial like innovative thermal processing systems.
The Company’s ASX report tells that the teams at both the firms Novonix and Harper have been working in collaboration over the past year and share a solid relationship already. They even have a set roadmap for the required technology.
Engineering and manufacturing of the first Harper-built system developed under this alliance is proceeding while the installation is set to start in February 2021.
Meanwhile, the NVX stock settled at $1.010 per share with market capitalisation at $358.64 million on 22 December 2020.