NOVONIX and PowerCo SE sign agreement for graphite material supply from 2027-2031

From GlobeNewswire: 2024-11-24 17:23:05

NOVONIX Limited and PowerCo SE have signed a binding offtake agreement for a minimum of 32,000 tonnes of high-performance synthetic graphite material to be supplied from 2027-2031. PowerCo, established by Volkswagen, plans to ramp up global battery cell production across three gigafactory locations. NOVONIX’s Riverside facility in North America is set to begin commercial production in 2025 and expand to meet customer demand. The agreement includes key deal terms for pricing and start of commercial supply, subject to NOVONIX meeting specified milestones and criteria. If requirements are not met, PowerCo has the option to terminate the agreement.



Read more at GlobeNewswire: NOVONIX and PowerCo SE Sign Binding Offtake Agreement