NOVONIX signs major contract with PowerCo for 32,000 tons of high-performance synthetic graphite

On November 25, 2024, NOVONIX signed a binding offtake agreement with PowerCo, committing to supply at least 32,000 tons of high-performance synthetic graphite materials over the next five years starting in 2027. PowerCo is a subsidiary of Volkswagen Group established in 2022 and has identified the locations of three super factories in Salzgitter, Germany, Valencia, Spain and St. Thomas, Canada, with a total production capacity of up to 200GWh/year.