NOVONIX announces results of engineering study on proprietary all-dry, zero-waste cathode synthesis process.
NOVONIX Limited (NASDAQ: NVX, ASX: NVX) (“NOVONIX” or the “Company”), a leading battery materials and technology company, announced that Hatch Ltd., a global engineering consultancy firm, has delivered its report that evaluates NOVONIX’s revolutionary all-dry, zero-waste cathode synthesis process (“NOVONIX process”) with potentially significant cost and waste reduction improvements.
Hatch was commissioned to conduct a commercial-scale capital and operating cost comparison study, as well as a high-level evaluation of plant emissions and impacts to natural resources between NOVONIX’s patent-pending process and the conventional, wet process (“conventional process”).
NOVONIX’s all-dry, zero-waste cathode synthesis process was built upon Dry Particle Microgranulation, which requires fewer steps than the conventional process, while producing no sodium sulfate, reducing facility cooling water by an estimated 65% and eliminating the water needed for core materials processing.
The Hatch study found that NOVONIX’s process may potentially reduce power consumption by an estimated 25% and practically eliminate waste byproduct generation over the conventional process. These factors contributed to a potential processing cost reduction of an estimated 50% (excluding material feedstock costs) and potentially lower capital costs by an estimated 30%.
Based on the scoping study comparing the two processes, NOVONIX’s process is estimated to consume fewer natural resources, likely requiring essentially no reagents and generating fewer waste streams, and, as a result, is likely a more environmentally friendly and sustainable process than the conventional process
Dr. Chris Burns, NOVONIX CEO said:
Hatch’s study supports our expected outcomes of our all-dry, zero-waste cathode synthesis process, which shows the potential for significant cost reductions and environmental benefits.
“The cathode active materials market is projected to be greater than $100 billion in 2030 and the opportunity to deploy this new process to the battery industry is significant. Importantly, NOVONIX’s process is aligned with our mission of providing revolutionary clean energy solutions to the battery industry and further extends our competitive strengths in battery materials.”
“Several potential customers and partners have already shown significant interest and this study validates the operating and capital cost savings achievable with our novel cathode synthesis process.”
NOVONIX recently announced the commissioning of its 10 tonne per annum cathode pilot line in July 2023 and shared that their cathode material matches the performance of leading cathode materials from existing suppliers in full-cell testing.
The Company plans to use its pilot line to continue to strengthen its intellectual property portfolio and further demonstrate to potential customers the manufacturability of its long-life cathode materials and technology, including high-nickel and cobalt-free materials, along with their performance in industrial format lithium-ion cells.
As the Company continues to advance its commercial engagements it is considering a pre-feasibility study to further advance the engineering and scale-up options for NOVONIX’s all-dry, zero-waste cathode technology.
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, is growing its high-performance synthetic graphite anode material manufacturing operations, and has developed an all-dry, zero-waste cathode synthesis process.
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 X.
About Hatch
Hatch is a global engineering consultancy firm that delivers innovative solutions to clients in the mining, metals, and energy industries. With over 68 years of experience and more than 11,000 professionals across almost 70 offices worldwide, Hatch has a proven track record of providing engineering and consulting services that drive value for clients.
Hihglights:
Engineering report on NOVONIX’s proprietary cathode synthesis process highlights potential improvements over conventional cathode synthesis:
- Capital expense intensity estimated nearly 30% lower
- Processing cost reductions estimated nearly 50% lower
- Estimated power consumption improvements of approximately 25%
- Removes the need for water in the material processing steps
- Eliminates other key waste byproducts including sodium sulphate (Na2SO4)
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NOVONIX Announces Results of Engineering Study on Proprietary All-Dry, Zero-Waste Cathode Synthesis Process, BRISBANE, Australia, September 12, 2023
