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- Phillips 66 (NYSE:PSX) and NOVONIX (OTCQX:NVNXF) sign a technology development deal to advance production and commercialization of next-generation anode materials for lithium-ion batteries.
- The deal will accelerate the development of next-generation anode materials for the battery supply chain.
- PSX and NVNXF will leverage existing intellectual property and R&D capabilities to drive commercial development of optimized feedstocks and lithium-ion anode materials with reduced carbon-intensive processing.
“We believe NOVONIX is currently the only supplier with plans to provide large volumes of synthetic graphite anode material in the U.S., and this partnership will accelerate our mission to establish a North American supply chain to power the growing battery sector and facilitate a sustainable future,” said NVNXF CEO Chris Burns.
Phillips 66 became a major investor in NOVONIX in 2021, when it acquired a 16% stake in the firm.