NOVONIX and ICoNiChem Collaboration Announcement

NOVONIX Limited (ASX:NVX) has entered into a collaboration agreement with ICoNiChem Widnes Limited to focus on the development of nickel-based cathode active materials. The 2-year project, with a total budget of CAD $515,686, aims to improve the sustainability of NOVONIX's all-dry, zero-waste technology by incorporating recycled metal feedstock into the process. Both companies have been selected for funding under the 2024 Canada-UK critical minerals call for proposals, emphasizing their commitment to advancing sustainable solutions for industries like renewable energy, electric vehicles, and electronics.

Executive Commentary on Collaboration

Dr. Chris Burns, CEO of NOVONIX, stated, 'NOVONIX will utilize its patented all-dry, zero-waste synthesis process to synthesize, test, and analyze cathode active materials that will incorporate ICoNiChem's recycled cobalt and nickel. Our involvement reflects our continued commitment to advancing sustainable solutions, reducing cathode processing cost, and strengthening the critical mineral supply chain across North America, the UK, and beyond.' Berk Sengul, Managing Director of ICoNiChem, added, 'This is a fantastic opportunity to work with a world-class company like NOVONIX to develop a UK supply chain for nickel-based cathode active materials. The project will strengthen ICoNiChem's position as a global player in cobalt and nickel materials.'

Summary of Collaboration and Future Outlook

NOVONIX and ICoNiChem have embarked on a joint collaboration to develop sustainable cathode materials using recycled metal feedstock. The project, funded under the 2024 Canada-UK critical minerals call for proposals, aims to enhance the sustainability of NOVONIX's technology and strengthen the critical mineral supply chain. Dr. Chris Burns emphasized the company's commitment to sustainable solutions and reducing processing costs. The collaboration presents an opportunity for both companies to establish a UK supply chain for nickel-based cathode materials, positioning them as global players in the industry. Upon successful completion, NOVONIX may integrate ICoNiChem products into its production processes, signaling a positive outlook for the future of sustainable cathode materials.