NOVONIX Limited has entered into an amended and restated supply framework agreement with PowerCo SE, the battery subsidiary of Volkswagen Group. This new agreement replaces a previous binding offtake contract that committed NOVONIX to supply 32,000 tonnes of synthetic graphite over five years starting in 2027 for PowerCo’s St. Thomas, Ontario gigafactory. Under the revised terms, the parties will negotiate volume and pricing in good faith once NOVONIX completes PowerCo's qualification process and obtains necessary industrial certifications. ISO 9001 certification has been achieved, while ISO 14001 is expected in 2027. The amendment reflects shifts in EV adoption rates, battery production plans, and the regulatory environment since the original deal was signed in November 2024. NOVONIX produces high-performance synthetic graphite anode active materials for lithium-ion batteries.
