(Reuters) – Australian battery maker Novonix mentioned on Monday (NASDAQ:) it had signed a binding off-take settlement with automaker Stellantis (NYSE:) to provide high-performance artificial graphite materials to its cell manufacturing companions in North America.
As a part of the settlement, the Brisbane-headquartered agency will provide a minimal of 86,250 metric tons, as much as a goal quantity of 115,000 metric tons of artificial graphite from its Riverside facility in Chattanooga, Tennessee, to Stellantis’ cell manufacturing companions in North America from 2026 till 2031.
“This contract allocates the remainder of our available volumes at our Riverside facility and a portion of volumes to be produced at our planned greenfield facility,” Novonix CEO Chris Burns mentioned.
The Australian agency additionally mentioned that it was making progress on constructing a brand new manufacturing facility within the southeastern United States which is able to boast an preliminary capability of 30,000 metric tons each year (tpa) and plans to increase that facility to 75,000 tpa.
