NOVONIX Ltd. (OTCPK:NVNXF) Q1 2024 Earnings Conference Call April 16, 2024 6:30 PM ET

Company Participants

Chris Burns - Chief Executive Officer

Conference Call Participants

Chris Burns

Hi, I'm Dr. Chris Burns, CEO of Novonix, and welcome to our First Quarter Activities Report Update. As always, please review the notice and disclaimer when the presentation is posted.

We closed out an exciting 2023 for the company, hitting many milestones across the business and we've started this year with a great first quarter, which I'm excited to update about today, to really uniquely position Novonix, to build out the North American supply chain for the battery sector.

We're a leading US-based battery materials and technology company, focused on process technology with a lower carbon footprint. We're building into a large and growing market for battery materials, with strong support for localization efforts here in North America.

We've focused on building an intellectual property profile for the manufacturing of synthetic graphite, as well as new materials such as our all-dry, zero-waste NMC cathode synthesis technology. And at the core of the group is our battery technology solutions group. It provides a competitive advantage for us as we look to accelerate the pace of innovation within our materials programs.

And now customer and government financing is paving the way to profitability as we build a new sector here in North America. And we'll talk about each of these and how they've impacted Novonix, both last year and in this first quarter. As we look across the structure of the group, at the core of the business is our technology solutions group. I started this group over 10 years ago to become a leader in research and development and equipment for the battery sector.

And through last year, we saw strong strategic growth in this group, as well as launching initiatives around data solutions to leverage AI and machine learning to predict battery performance and tie that back to our materials programs in an effort to accelerate the pace of development of our key materials.

Our largest area of focus is our Anode materials group. Being a leading domestic supplier of battery-grade synthetic graphite, where last year we signed the joint research and development agreement with investment from LG Energy Solutions. We finalized the award of $100 million from the Manufacturing and Energy Supply Chain's office of the Department of Energy for our Riverside project. And we hit strong operational milestones around bringing online key equipment and process technology within our Riverside facility.