Novonix (ASX:NVX) shares shoot up as PUREgraphite notches over $5M US grant

  • January 22, 2021 11:38 AM AEDT
  • Hina Chowdhary
    Hina Chowdhary
    Director, Equities Research Hina Chowdhary
    1706 Posts

    Hina Chowdhary is the Director, Equity Research at Kalkine and has an extensive experience of about 15 years in the area of Research, which includes 5+ years in Equities Research particularly.She has earned a Master of Science degree from the renowne...

Novonix (ASX:NVX) shares shoot up as PUREgraphite notches over $5M US grant


  • NOVONIX Limited’s (ASX:NVX) US-based subsidiary PUREgraphite has been awarded a US government grant worth USD 5.57 million.
  • The funding will assist in developing a brand new and continuous furnace technology with high-efficiency for lithium-ion battery (LIB) synthetic graphite material.
  • PUREgraphite is partnering with Phillips 66 and Harper International for this funding opportunity.

NOVONIX Limited (ASX:NVX) has hit yet another significant milestone. The Company’s wholly-owned US-based subsidiary PUREgraphite has been chosen to receive a USD 5,577,738 grant. PUREgraphite is based in Chattanooga, Tennessee.

The market update sent NVX soaring on the ASX. Mid-day on 21 January 2021, one NVX share quoted $ 2.57, trading up by 23.55 per cent with a volume of over 5.5 million. Continuing its upward trajectory on 22 January 2021, NVX was up 9.48 per cent and quoted $ 2.77 (mid-day).

ANOTHER RECENT MILESTONE: NOVONIX (ASX:NVX) finds a spot in OTCQX International Index

DOE grants funding to PUREgraphite

The US Department of Energy (DOE) will grant USD 5.57 million to PUREgraphite for new technology development.

The US Department of Energy FOA particularly emphasised upon the processing of battery critical minerals plus synthetic graphite.

Funding opportunity

The award is a multi-year project entitled “High Efficiency Continuous Graphitization Furnace Technology for Lithium-ion Battery Synthetic Graphite Material”. To work on this, NOVONIX will team up with Harper International and Phillips 66.

The project will focus on the development of proprietary furnace technology (under the Harper strategic alliance). The award covers engineering as well as construction. Installation of the new processing equipment (at the PUREgraphite plant) is also covered.

The total project cost will be ~USD 11.5 million (including PUREgraphite’s contribution of ~USD 5.92 million).

Expert Comments

NOVONIX CEO Dr. Chris Burns states that the award signifies the US Government’s commitment to support the formation of a national supply of high-performance battery materials. It also depicts the proficiency, headway, partners, and technology that NOVONIX has successfully assembled at PUREgraphite.

Harper International VP Paul Elwell believes that the show of support from the US Government highlights the significance of Harper’s partnership with the LIB material specialists at PUREgraphite. Together, the parties aim to develop and authenticate next-gen thermal process technologies to address America’s critical supply chain needs.

Recent at NOVONIX

The PUREgraphite anode material plant is accelerating its capacity to 2,000 tons/annum of synthetic graphite. Notably, the supply of an initially planned 500 tons to Samsung SDI is included in this increased output.

The Company has a non-binding deal with Sanyo as well to consider production materials from the plant.

Besides, NOVONIX recently announced a significant appointment. Professor Jeff Dahn has been appointed as the Chief Scientific Adviser, and he would start his journey on 1 July 2021.

READ MORE: Why Jeff Dahn’s significant appointment set NOVONIX (ASX:NVX) stock soaring?


The website https://kalkinemedia.com/au is a service of Kalkine Media Pty. Ltd. (Kalkine Media) A.C.N. 629 651 672. The principal purpose of the content on this website is to provide factual information only and does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stock of the company (or companies) or engage in any investment activity under discussion. We are neither licensed nor qualified to provide investment advice through this platform. In providing you with the content on this website, we have not considered your objectives, financial situation or needs. You should make your own enquiries and obtain your own independent advice prior to making any financial decisions.
Some of the images that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed on this website unless stated otherwise. The images that may be used on this website are taken from various sources on the web and are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it below the image. The information provided on the website is in good faith, however Kalkine Media does not make any representation or warranty regarding the content, accuracy, or use of the content on the website.


We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK