NOVONIX Ltd 6-K, filed Apr 6, 2023
NOVONIX Ltd (NVX)
About this 6-K
NOVONIX Ltd filed this 6-K on April 6, 2023.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE
SECURITIES EXCHANGE ACT OF 1934
For the month of April, 2023
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001-41208 |
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(Commission File Number) |
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NOVONIX LIMITED
(Translation of registrant’s name into English)
Level 38
71 Eagle Street
Brisbane, QLD 4000 Australia
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20‑F or Form 40‑F.
Form 20-F ☒ Form 40-F ☐
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ☐
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ☐
FORWARD-LOOKING STATEMENTS
The Australian Securities Exchange (“ASX”) announcement filed as Exhibit 99.1 hereto contains forward-looking statements about us and our industry that involve substantial risks and uncertainties. All statements other than statements of historical facts contained in such presentation are forward-looking statements. In some cases, you can identify forward-looking statements because they contain words such as “anticipate,” “believe,” “contemplate,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” or “would,” or the negative of these words or other similar terms or expressions. We have based these forward-looking statements largely on our current expectations and projections about future events and trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. These forward-looking statements are subject to a number of known and unknown risks, uncertainties, other factors and assumptions, including those factors identified in our filings with the U.S. Securities and Exchange Commission. We undertake no obligation to update any forward-looking statements made in the ASX announcement filed as Exhibit 99.1 hereto to reflect events or circumstances after the date of such announcement or to reflect new information or the occurrence of unanticipated events, except as required by law. We may not actually achieve the plans, intentions or expectations disclosed in our forward-looking statements, and you should not place undue reliance on our forward-looking statements.
EXHIBIT INDEX
Exhibit No. |
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Description |
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Exhibit 99.1 |
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ASX Announcement (Chairman’s Address to Annual General Meeting), dated April 5, 2023 |
Exhibit 99.2 |
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Presentation to Annual General Meeting held on April 5, 2023 |
Exhibit 99.3 |
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
NOVONIX LIMITED
By: /s/ Dr John Christopher Burns Dr. John Christopher Burns Chief Executive Officer |
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Date: April 6, 2023
EXHIBIT 99.1
ASX ANNOUNCEMENT
(ASX: NVX)
5 April 2023
Chairman’s 2023 AGM address
Good morning, I am retired Admiral Robert Natter, Chairman of NOVONIX and I would like to welcome our shareholders, staff and guests to NOVONIX’s Annual General Meeting. I want to acknowledge the original inhabitants of this great land, and one of the world’s oldest continuous cultures, the First Australians. As we come together today let us do so with a deep appreciation (and for me personally, a sincere admiration) for the richness and diversity of Australian culture and heritage, and your commitment to reconciliation, respect, and unity.
I am joined today by Dr. Chris Burns, our CEO, our corporate Secretary Suzanne Yeates, and members of our Board of Directors including the Deputy Chair Tony Bellas and Andrew Liveris. This AGM is being webcast for the benefit of all our shareholders who cannot join us today. Joining via the video conference, we have the remainder of the Board. I look forward to this event each year, as it provides an open forum to update our valued shareholders and address any questions. Following my address, Chris will provide an update on the business.
The Board and the company have accelerated efforts to enhance NOVONIX’s Environmental, Social and Governance (ESG) policies and reporting. Oversight of the Company’s ESG program was placed under the governance structure of the Nominating & Corporate Governance Committee to tackle these important initiatives and the accountability to our stakeholders. The Board fully supports the well-thought out ESG efforts and looks forward to this journey to further formulate our policies and processes and develop a robust reporting framework. We have already heard from investors that applaud our efforts and welcome additional dialogue as we mature our program.
Second, I would like to address the remuneration policy of the company and share thoughts of the Board of Directors. NOVONIX has been working with Aon Radford as a compensation consultant with respect to both our board and management remuneration as part of ensuring good corporate governance. The Remuneration Committee has reviewed and updated our policies to align with best practice remuneration frameworks and processes. We believe our policies will continue to evolve as we mature as a public company and allow us to attract and retain the best talent at all levels in our markets for NOVONIX given our primary listing in Australia and our locus of operations in North American. I have spoken with other leaders of industry, including the EV and battery sector, and the challenge for talent and personnel is real and it is intense. Specific skill sets and technical knowledge are needed at these companies, and ours, as the many and varied participants in the sector position themselves to meet the extraordinary growth in demand for the batteries needed to support renewable power and electrification of transportation.
At NOVONIX we are certainly monitoring the macro cross-currents and geo-political events that are impacting almost every business and every government around the globe. It remains a challenging market for all companies, especially for emerging growth companies like NOVONIX as a technology disruptor in the anode materials market. Although our cash position has not been directly impacted by the regional bank crisis in the United States, we do believe this event is impacting broader capital markets on both interest rates and access to
NOVONIX Limited (ASX: NVX)
ACN 157 690 830
Level 38, 71 Eagle Street
Brisbane QLD 4000
AUSTRALIA
capital. This has spilled into global currency markets, and we all will have observed the impact on the Australian dollar as well.
Recent global events have highlighted opportunities and challenges for NOVONIX. Both COVID and the Russian-Ukrainian conflict have highlighted the need for diversity and security of supply chains. The projected growth in Electric Vehicles and the battery market specifically has accentuated this point in North America. Asian battery material suppliers provide well over 90% of the anode materials to the rest of the world and governments in both United States and Europe are attempting to address these growing concerns with legislative initiatives to institute domestic supply chains for battery manufacturers and critical materials like graphite.
The Biden Administration’s Inflation Reduction Act (IRA) and the Bipartisan Infrastructure Law (BIL) have provided many potential incentives to companies to build out a robust supply chain in the United States. NOVONIX was selected to receive $150M for an approximate $1 Billion US greenfield project to supply the EV battery supply chain. This month the DOE began distributing terms and conditions to BIL grant awardees, including NOVONIX, and we are currently evaluating these terms and negotiating accordingly. Subsequently, the project’s Environmental (NEPA) review process will commence. Separately, the Company has applied for funding with DOE’s Loan Program Office to help support our efforts to construct our Greenfield facility.
It has been six-months since our last address with the change in our reporting cycle. In this short period, the company has been making strong progress on its plan to become a major supplier of synthetic graphite. We are also excited about the contributions from our Battery Technology Solutions team, with the performance of its dry-processed, high-nickel cathode materials and the near term commissioning of its new cathode pilot line.
Last week, we announced NOVINIX has entered a joint venture with TAQAT Development Company. The JV is intended to utilize NOVONIX’s leading battery technology and capability to develop a graphite anode materials facility with capacity of 30,000 tonnes per annum. The Government of Saudi Arabia, as part of its Vision 2030 goals, is using its investment power to support and create a more diverse and sustainable economy. Saudi Arabia plans to have 30% of all vehicles on road be electric by 2030. In our discussions, we have witnessed the seriousness of their intent and the resources they are bringing to accomplish their goals and as NOVONIX as a solid partner.
Clearly, the performance of stock has not reflected the considerable work that is being done with customers and in progressing our graphitization technology and related materials and process technologies. Our share price has gyrated along with the rest of the market and, in particular, the technology sector which has seen even greater volatility. As a battery technology emerging growth company, we have been part of that and felt it to a greater degree than many in our sector.
As we have noted previously, as the Board and management team, we cannot control the share price. What we can control are the decisions we take to ensure we have a sound strategy, and that management is executing that strategy to deliver on our long-term goals. Chris and his team continue to educate the market as to the opportunity that stands before NOVONIX and their progress. Importantly, if we continue to deliver against our key operating milestones, the share price will respond appropriately over time.
NOVONIX Limited (ASX: NVX)
ACN 157 690 830
Level 38, 71 Eagle Street
Brisbane QLD 4000
AUSTRALIA
Lastly, I want to thank Rob Cooper who is retiring from the board after almost seven years of service to the Company. Rob has provided invaluable contributions to the Board and management of the company including in his role as Chair of the Remuneration Committee. I thank Rob for his service and dedication to Novonix and wish him well with his future endeavours. The retirement of Rob and the recent recruitment of Dan Ackerson and Ron Edmonds flow from the Board’s continuous process of self-assessment, review and renewal. Our aim is to ensure we have the right mix of talent and experience, and the diversity needed to provide the effective governance in support of our corporate objectives.
In closing, I am extremely proud of the progress we have seen at NOVONIX during my tenure as Chairman. And I want to especially recognize our Deputy Chair, Tony Bellas, for his continuing leadership and tireless support. The Board and I will continue to strive to ensure strong governance and are supportive of the actions of management. We see a well laid out plan to capture the tremendous opportunity in the battery sector and are seeing these actions crystalize and look forward to being able to update our shareholders and the market on a timely basis.
Thank you ladies and gentlemen. I will now hand over to Chris Burns for his corporate update presentation.
This announcement has been authorized for release by NOVONIX Chairman, Admiral Robert J. Natter, USN Ret.
About NOVONIX
NOVONIX is a leading battery technology company revolutionizing the global lithium-ion battery industry with innovative, sustainable technologies, high-performance materials, and more efficient production methods. The company manufactures industry-leading battery cell testing equipment in Canada and is growing its high-performance synthetic graphite anode material manufacturing operations in the United States. Through advanced R&D capabilities, proprietary technology, and strategic partnerships, NOVONIX has gained a prominent position in the electric vehicle and energy storage systems battery industry and is powering a cleaner energy future. To learn more, visit us at www.novonixgroup.com or on LinkedIn, and Twitter.
For NOVONIX Limited
Scott Espenshade, ir@novonixgroup.com (investors)
Lori McLeod, media@novonixgroup.com (media)
Forward-Looking Statements
This communication contains forward-looking statements about the Company and the industry in which we operate. Forward-looking statements can generally be identified by use of words such as “anticipate,” “believe,” “contemplate,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” or “would,” or other similar expressions. Examples of forward-looking statements in this communication include, among others, statements we make regarding our joint venture with TAQAT, including the development of a new facility for the production of anode materials for EV batteries and the anticipated performance and benefits. We have based such statements on our current expectations and projections about future events and trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. Such forward-looking statements involve and are subject to known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include, among others, our ability to achieve
NOVONIX Limited (ASX: NVX)
ACN 157 690 830
Level 38, 71 Eagle Street
Brisbane QLD 4000
AUSTRALIA
the objectives and financial benefits of the joint venture, the accuracy of our estimates regarding expenses, future revenue, capital requirements and needs for additional financing, and regulatory developments in the United States, Saudi Arabia, Australia and other jurisdictions. Detailed information regarding these and other factors that could affect our business and results is included in our filings, including the Company's most recent transition and annual reports on Form 20-F, particularly the “Operating and Financial Review and Prospects” and “Risk Factors” sections of those reports. Copies of these filings may be obtained by visiting our Investor Relations website at www.novonixgroup.com or the SEC's website at www.sec.gov.
Forward-looking statements are not guarantees of future performance or outcomes, and actual performance and outcomes may differ materially from those made in or suggested by the forward-looking statements contained in this communication. Accordingly, you should not place undue reliance on forward-looking statements. Any forward-looking statement in this communication is based only on information currently available to us and speaks only as of the date on which it is made. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.
NOVONIX Limited (ASX: NVX)
ACN 157 690 830
Level 38, 71 Eagle Street
Brisbane QLD 4000
AUSTRALIA
Set for Growth Annual General Meeting, April 2023 EXHIBIT 99.2
Important Notice and Disclaimers The information contained in this presentation (the “Presentation”) has been prepared by NOVONIX Limited (ACN 157 690 830) (“the Company” or “NOVONIX”) solely for information purposes and the Company is solely responsible for the contents of this Presentation. It is intended to be a summary of certain information relating to the Company as at the date of the Presentation and does not purport to be a complete description of NOVONIX or contain all the information necessary to make an investment decision. Accordingly, this Presentation is not intended to, and should not, form the basis for any investment, divestment or other financial decision with respect to the Company. Any reproduction or distribution of the Presentation, in whole or in part, or the disclosure of its contents, without prior consent of the Company, is prohibited. Not an Offer This Presentation does not constitute, nor does it form part of an offer to sell or purchase, or the solicitation of an offer to sell or purchase, any securities of the Company. This Presentation may not be used in connection with any offer or solicitation by anyone in any jurisdiction in which such offer or solicitation is not permitted by law or in which the person making the offer or solicitation is not qualified to do so or to any person to whom it is unlawful to make such offer or solicitation. Any offering of securities will be made only by means of a registration statement (including a prospectus) filed with the U.S. Securities and Exchange Commission (the “SEC”), after such registration statement becomes effective, or pursuant to an exemption from, or in a transaction not subject to, the registration requirements under the U.S. Securities Act of 1933, as amended. No such registration statement has become effective, as of the date of this Presentation. Forward-Looking Statements This Presentation contains forward-looking statements about the Company and the industry in which it operates. Forward looking statements can generally be identified by use of words such as “anticipate,” “believe,” “contemplate,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” or “would,” or other similar expressions. The Company has based such statements on its current expectations and projections about future events and trends that it believes may affect its financial condition, results of operations, business strategy and financial needs. Such forward-looking statements involve and are subject to known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company and/or its subsidiaries to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include, among others, regulatory developments in the United States, Australia and other jurisdictions, the continuation of the Company’s partnership with the Research Group of Dr. Mark Obrovac at Dalhousie University for the development of the Company’s technology, the Company’s ability to scale-up production of its anode or cathode materials and the Company’s ability to attract and retain key management and technology personnel. Forward-looking statements are not guarantees of future performance or outcomes and that actual performance and outcomes may differ materially from those made in or suggested by the forward-looking statements contained in this Presentation. Accordingly, recipients of this Presentation should not place undue reliance on forward looking statements. The Company disclaims any obligation to update any forward-looking statements made in this Presentation to reflect events or circumstances after its date or to reflect new information or the occurrence of unanticipated events, except as required by law. Industry and Market Data This Presentation contains estimates and information concerning our industry and our business, including estimated market size and projected growth rates of the markets for our products. Unless otherwise expressly stated, we obtained this industry, business, market, and other information from reports, research surveys, studies and similar data prepared by third parties, industry, and general publications, government data and similar sources. This Presentation also includes certain information and data that is derived from internal research. While we believe that our internal research is reliable, such research has not been verified by any third party. Estimates and information concerning our industry and our business involve a number of assumptions and limitations. Although we are responsible for all of the disclosure contained in this Presentation and we believe the third-party market position, market opportunity and market size data included in this Presentation are reliable, we have not independently verified the accuracy or completeness of this third-party data. Information that is based on projections, assumptions and estimates of our future performance and the future performance of the industry in which we operate is necessarily subject to a high degree of uncertainty and risk due to a variety of factors, which could cause results to differ materially from those expressed in these publications and reports. Trademarks, Service Marks and Trade Names Throughout this Presentation, there are references to various trademarks, service marks and trade names that are used in the Company’s business. “NOVONIX,” the NOVONIX logo and other trademarks or service marks of NOVONIX appearing in this Presentation are the property of NOVONIX or its subsidiaries. Solely for convenience, the trademarks, service marks and trade names referred to in this Presentation are listed without the ® or ™ symbol, as applicable, but such references should not be construed as any indicator that their respective owners will not assert, to the fullest extent under applicable law, their right thereto. All other trademarks, trade names and service marks appearing in this Presentation are the property of their respective owners.
Providing Revolutionary Solutions to the Battery Industry Investment Highlights Battery Technology Solutions provides competitive advantage to accelerate innovation Anode material facility capacity advancing and widening our competitive advantage Customer and government-financing support for the sector paves a path to profitability Large and growing market for battery materials supported by localization efforts Leading North American battery materials and technology Company with lower carbon footprint Riverside Facility in Tennessee
Leading U.S. Battery Materials and Technology Development Company bf Advanced Battery Testing and R&D Expertise Leading U.S.-based Supplier of Synthetic Graphite Anode Material Developing New Applications and Partnerships Utilizing Dry Cathode Technology Providing Revolutionary Clean Energy Solutions to the Battery Industry
Capitalizing on the Growth Opportunity The Opportunity Focus on developing technologies and materials that are needed for long-life high-performance battery applications such as electric vehicles and energy storage systems Increased Demand Global synthetic graphite demand for electric vehicles and energy storage systems is growing with forecasts of a ~15x increase in demand from 2021 to 2030 Localized Production Execute phased growth strategy with roadmap to achieve production capacity of 150,000 metric tons of synthetic graphite per annum (tpa) by 2030 Battery Supply Chain Commercialize NOVONIX proprietary pipeline of advanced battery technologies to accelerate the domestic clean energy transformation
NOVONIX Proprietary Graphitization Process Leads the Clean Energy Transformation Inputs Process Outputs Proprietary process technology Increased energy efficiency No chemical purification NOVONIX’s anode materials support higher performance lithium-ion batteries resulting in longer life Negligible facility emissions Environmental Life Cycle Assessment (LCA)1 on NOVONIX process demonstrated a ~60% decrease in global warming potential (GWP) relative to conventional anode grade synthetic graphite and a 30% decrease compared to natural graphite both supplied from China Social The health, safety, and wellbeing of our employees and the communities we operate in are essential to NOVONIX’s success and growth Governance NOVONIX believes corporate governance is central to its business objectives and a critical element contributing to the preservation of shareholder value 1 - The Life Cycle Assessment (LCA) conducted by Minviro Ltd. 2 - FY2021 figures from Tennessee Valley Authority Clean power sources2 Highest purity input materials
Our Leadership and Board of Directors Leadership Team Board of Directors Key leadership and technical experience: Scientific & Technical Advisors Admiral Robert J. Natter Chairman & Non-Executive Director Zhanna Golodryga Non-Executive Director Tony Bellas Deputy Chairman & Non-Executive Director Jean Oelwang Non-Executive Director Nick A. Liveris Chief Financial Officer Rashda Buttar Chief Legal and Administrative Officer Suzanne Yeates Financial Controller and Co Secretary Darcy Macdougald President | BTS Danny Deas President | NAM Dr. Chris Burns Chief Executive Officer Christopher York Senior Vice President Business Development Daniel Akerson Non-Executive Director Ron Edmonds Non-Executive Director Dr. Mark Obrovac Sponsored Researcher Dr. Jeff Dahn Chief Scientific Advisor Andrew N. Liveris AO Non-Executive Director
Mining Raw Material Processing Materials & Cell Component Production Battery Cell/Pack Production EV & ESS Production Recycling NVX Plays a Critical Role in the Lithium-Ion Battery Value Chain Note: Companies presented above are for indicative purposes only and not a representation of customer relationships. Visibility across the entire battery value chain provides competitive intelligence and attractive opportunities for NOVONIX Cathode Materials Anode Materials Energy Storage Partnership
Localization Impact Expectation on Graphite Pricing yet to Materialize Lithium: +734% Syn. Graphite: +14% Nat. Graphite: -11% 0.2 6.0 Global Active Material Demand1 Lithium vs. Graphite Pricing Graphite Pricing Tailwinds Factors impacting future prices include the impact of market localization, security of domestic supply premiums, tax credits, section 301 tariffs Forecasted to Grow ~15x The global market for active materials is forecasted to grow by a factor of 15 from 2021 to 2030. By weight, graphite is the primary active material of all critical materials 1- Global active material demand ramp up (million tons) based on electric vehicle sales figures. 2- Other active materials include Nickel, Manganese and Cobalt. Source: Bloomberg, PWC, Shanghai Metal Markets 2
U.S. Legislation Providing Direct Support to NOVONIX’s Business Plan IRA Tax Credits & Consumer Credit Inflation Reduction Act of 2022 ("IRA") includes an estimated $369 billion in investments related to "climate change and energy security,” including tax and other incentives to promote U.S. production of electric vehicles ("EVs"), renewable energy technologies, and critical minerals, representing the single biggest climate investment in U.S. history. Includes $7,500 federal consumer tax credit for qualifying electric vehicles, starting in 2023 based on the origin of materials and localization of manufacturing $3,750 of the credit must meet critical minerals requirement - The critical mineral credit requires certain thresholds of the percentage of the value1 of the critical minerals in the vehicle’s battery to be extracted or processed in the United States or from a country which has a free trade agreement in effect with the U.S. EV credit eligibility is disqualified if materials are used from foreign entities of concern starting in 2025 $3,750 from battery components - The battery component requirement will be met if the percentage of the value of the components in the vehicle’s battery that were manufactured or assembled in North America is equal to or greater than 50 percent in 2023 and increasing from that time Section 301 Tariffs In August 2017, the Office of the United States Trade Representative (USTR) launched an investigation into China’s allegedly unreasonable and discriminatory trade practices under Section 301 of the Trade Act of 1974. The tariff exclusion “necessity review” was extended in December 2022 until September 2023 Section 301 includes a 25% tariff on artificial graphite imported from China to help remove unfair market distortions imposed by China’s anticompetitive behaviors and size advantage in the battery materials sector DOE Loans DOE Loan Programs Office (LPO) has $15.1 billion in loan authority to support the manufacture of eligible light-duty vehicles and qualifying components under the Advanced Technology Vehicles Manufacturing Loan Program (ATVM), authorized by the Energy Independence and Security Act of 2007, providing debt capital at U.S. Treasury rates Entered Phase 2 of DOE LPO Loan process in late 2022. The loan, if received, would contribute toward funding the company’s current expansion of battery materials capacity
Phased Growth Plan Matches Customer Demands Phase 1: Riverside Phase 2: Greenfield #1 3K Tonne / Yr 40K Tonne / Yr 150K Tonne / Yr NOVONIX N.A. Capacity / tonnage phased growth NOVONIX’s illustrative scale plan Anode Materials annual capacity volume would equate to: Anode Materials annual capacity volume would equate to: Anode Materials annual capacity volume would equate to: ~55K ~727K ~2.7M Market share based off implied North American graphite demand in 2021, 2026, and 2031. Source: Benchmark Mineral Intelligence Gigafactory Assessment – June 2022. Based on announced capacity. Assumes full utilization. Company expectations aligned with customer contracts and anticpated customer demand , which may or may not materialize KORE Power agreement to supply Koreplex anticipates a ~3,000 tonne per annum delivery rate in 2H 2024 ramping to ~12,000 tonne per annum rate in 2028. Assumes 55kg of graphite per EV. (4) per year per year per year KORE Power KORE + Tier 1 Portfolio of Customers (2,3) (2,3) (2) 0.5% 10% 16% North American Anode Market Share(1): Phase 3: Greenfield #1 & #2
Greenfield Plan Overview Proposed Site Rendering NOVONIX Anode Materials Phase 2: Greenfield Site Selection Underway A new Greenfield facility is planned to support an initial 30,000 tonnes per annum (tpa) of production capacity by 2025, with potential to expand up to 75,000 tonnes capacity Site selection process currently underway with several jurisdictions currently being considered NOVONIX was selected for US$150 Million in DOE grant funding to support buildout of this facility
Agreement Enhances Revenues and Secures Low-cost Input NOVONIX Enters Joint Venture with TAQAT Development NOVONIX has agreed to form a Joint Venture (JV) in the Kingdom of Saudi Arabia to produce high-performance synthetic graphite JV will undertake FEED Study for the facility in its first year with the target to begin facility construction in 2024 NOVONIX will contribute access its proprietary intellectual property to the JV for the production and sales of high-performance synthetic graphite in the (MENA) region JV will be made up of TAQAT holds 60 percent equity stake and NOVONIX holds a 40 percent stake with each party contributing their share of equity required for operating and capital costs for engineering and subsequent facility construction and operation Chris Burns commented “The joint venture will leverage NOVONIX’s existing work in North America and will allow us to more quickly scale our operations to extend our geographical reach to the global market”
Cathode Cycle Performance Similar to Commercial Material Full Cell Cycling Performance of NOVONIX Single Crystal NMC622 Enhanced Production Process Yields Consistent Performance Normalized electrochemical results in 1Ah pouch cell show that NOVONIX NMC622 has comparable electrochemical performance to commercial NMC materials Higher nickel and cobalt free materials are also being produced using our process technology 40°C; 1.2M LiPF6 EC:EMC:DMC(25:5:70)+3VC; [Charge] : CC-0.33C; [Discharge] : CC-0.33C Product Reference NMC622 NOVONIX NMC622 Capacity at c200 (%) 94.4% 94.1% First Cycle Efficiency (%) 84.9% 84.9% Reference NMC622 NOVONIX NMC622 NOVONIX NMC622 Cathode Commercial NMC622 Cathode
Goals for the Future of NOVONIX Forefront of Product Innovation Recognized Battery Technology Leader Scaling anode materials production capacity to 150K tpa Cathode technology supported by our propriety dry processing Highly developed IP with leading market positions Foresee strong cash flow generation and margins
Contact Information NOVONIX Anode Materials NOVONIX Battery Technology Solutions 1029 West 19th Street, Chattanooga, TN 37408 USA 353 Corporate Place Chattanooga, TN, 37419 USA 177 Bluewater Road Bedford, NS B4B 1H1 Canada 110 Simmonds Drive Dartmouth, NS B3B 1N9 Canada This presentation has been authorized for release by NOVONIX Chairman, Admiral Robert J. Natter, USN Ret. Send all investor queries to: ir@novonixgroup.com
EXHIBIT 99.3 |
NOVONIX LIMITED |
RESULT OF ANNUAL GENERAL MEETING (ASX REPORT) |
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ANNUAL GENERAL MEETING Wednesday, 5 April, 2023 |
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As required by section 251AA(2) of the Corporations Act 2001 (Commonwealth) the following statistics are provided in respect of each resolution on the agenda.
Resolution Voted on at the meeting |
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Proxy Votes (as at proxy close) |
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Total votes cast in the poll (where applicable) |
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|||||||
No |
Short Description |
Strike Y/N/NA |
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For |
Against |
Discretionary (open votes) |
Abstain |
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For |
Against |
Abstain ** |
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Result |
01 |
REMUNERATION REPORT (NON-BINDING) |
Y |
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29,962,740 45.25% |
35,863,647 54.17% |
383,390 0.58% |
4,750,669 |
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54,525,964 59.71% |
36,797,983 40.29% |
4,796,057 |
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Carried |
02 |
RE-ELECTION OF DIRECTOR - ADMIRAL ROBERT NATTER |
NA |
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65,769,347 81.56% |
14,488,839 17.97% |
381,906 0.47% |
364,568 |
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91,306,811 86.30% |
14,488,839 13.70% |
368,568 |
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Carried |
03 |
RE-ELECTION OF DIRECTOR - MR DANIEL AKERSON |
NA |
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69,777,994 86.54% |
10,474,944 12.99% |
381,005 0.47% |
364,633 |
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95,176,457 89.97% |
10,613,044 10.03% |
368,633 |
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Carried |
04 |
RE-ELECTION OF DIRECTOR - MR RON EDMONDS |
NA |
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70,466,953 87.39% |
9,746,966 12.09% |
424,305 0.53% |
365,336 |
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95,908,716 90.66% |
9,885,066 9.34% |
369,336 |
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Carried |
05 |
ISSUE OF TRANSITIONAL FY23 PERFORMANCE RIGHTS TO MR NICK LIVERIS |
NA |
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43,129,708 64.27% |
23,611,057 35.18% |
366,724 0.55% |
3,864,373 |
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68,452,502 74.23% |
23,769,157 25.77% |
3,909,761 |
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Carried |
06 |
ISSUE OF TRANSITIONAL FY23 SHARE RIGHTS TO MR ANDREW N. LIVERIS AO |
NA |
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47,815,894 71.23% |
18,944,347 28.22% |
364,174 0.54% |
3,845,771 |
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72,236,138 78.31% |
20,002,447 21.69% |
3,891,159 |
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Carried |
07 |
ISSUE OF TRANSITIONAL FY23 SHARE RIGHTS TO MR ANTHONY BELLAS |
NA |
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47,287,718 70.47% |
19,455,673 28.99% |
364,174 0.54% |
3,864,301 |
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72,607,962 78.73% |
19,613,773 21.27% |
3,909,689 |
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Carried |
08 |
ISSUE OF TRANSITIONAL FY23 SHARE RIGHTS TO ADMIRAL ROBERT NATTER |
NA |
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47,232,709 70.36% |
19,531,610 29.10% |
362,739 0.54% |
3,844,808 |
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71,651,518 77.68% |
20,589,710 22.32% |
3,890,196 |
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Carried |
09 |
ISSUE OF TRANSITIONAL FY23 SHARE RIGHTS TO PHILLIPS 66 COMPANY |
NA |
|
47,324,285 70.49% |
19,443,813 28.96% |
365,405 0.54% |
3,838,363 |
|
71,745,760 77.78% |
20,501,913 22.22% |
3,883,751 |
|
Carried |
10 |
ISSUE OF TRANSITIONAL FY23 SHARE RIGHTS TO MS JEAN OELWANG |
NA |
|
47,287,464 70.45% |
19,472,127 29.01% |
364,267 0.54% |
3,847,208 |
|
70,129,427 78.13% |
19,630,227 21.87% |
3,892,596 |
|
Carried |
11 |
ISSUE OF FY23 SHARE RIGHTS TO MR DANIEL AKERSON |
NA |
|
47,293,377 70.46% |
19,467,283 29.00% |
364,174 0.54% |
3,846,160 |
|
70,135,247 78.14% |
19,625,383 21.86% |
3,891,548 |
|
Carried |
Printed: 5/04/2023 |
This report was produced from the Link Market Services Meeting System |
Page 1 of 2 |
EXHIBIT 99.3 |
NOVONIX LIMITED |
RESULT OF ANNUAL GENERAL MEETING (ASX REPORT) |
|
ANNUAL GENERAL MEETING Wednesday, 5 April, 2023 |
|
As required by section 251AA(2) of the Corporations Act 2001 (Commonwealth) the following statistics are provided in respect of each resolution on the agenda.
Resolution Voted on at the meeting |
|
Proxy Votes (as at proxy close) |
|
Total votes cast in the poll (where applicable) |
|
|
|||||||
No |
Short Description |
Strike Y/N/NA |
|
For |
Against |
Discretionary (open votes) |
Abstain |
|
For |
Against |
Abstain ** |
|
Result |
12 |
ISSUE OF PRO RATED SHARE RIGHTS TO MR DANIEL AKERSON |
NA |
|
47,287,446 70.46% |
19,456,645 28.99% |
366,174 0.55% |
3,844,801 |
|
70,131,316 78.14% |
19,614,745 21.86% |
3,890,189 |
|
Carried |
13 |
ISSUE OF FY23 SHARE RIGHTS TO MR RON EDMONDS |
NA |
|
47,249,868 70.45% |
19,451,171 29.00% |
364,174 0.54% |
3,890,653 |
|
70,091,738 78.14% |
19,609,271 21.86% |
3,936,041 |
|
Carried |
14 |
ISSUE OF PRO RATED SHARE RIGHTS TO MR RON EDMONDS |
NA |
|
47,283,914 70.46% |
19,457,577 28.99% |
365,174 0.54% |
3,849,201 |
|
70,126,784 78.14% |
19,615,677 21.86% |
3,894,589 |
|
Carried |
15 |
INCREASE IN DIRECTOR FEE POOL LIMIT |
NA |
|
51,865,192 77.53% |
14,649,194 21.90% |
381,405 0.57% |
4,051,475 |
|
73,929,293 82.57% |
15,602,294 17.43% |
4,096,863 |
|
Carried |
** - Note that votes relating to a person who abstains on an item are not counted in determining whether or not the required majority of votes were cast for or against that item
Printed: 5/04/2023 |
This report was produced from the Link Market Services Meeting System |
Page 2 of 2 |