Novonix adds a green tinge to materials
Tech firm Novonix says it has independent proof that its synthetic graphite used in electric vehicle batteries is far more environmentally sustainable that a similar product from China.
A lifecycle analysis found a 60 per cent reduction in CO2 emissions compared with a comparable product produced in Inner Mongolia and Heilongjiang provinces.
Novonix said the results will be third party reviewed and if confirmed it would show that its product was 2.5 times better for the environment.
Chief executive Chris Burns said cell manufacturers and automotive original equipment manufacturers were not only looking for companies that could provide high performance materials but also that these prioritise environmental responsibility.
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The Novonix graphite is also the only product produced in the US where EV manufacturers have had to rely on China.
Novonix shares were up slightly this morning and nearing the $9 mark.
