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[Alpha Biz=(Chicago) Reporter Kim Jisun] LG Energy Solutions announced on July 7 that it has signed a strategic investment agreement with Joint Develpment Agreement (JDA) with Australian battery material and equipment maker Novonix Limited. Artificial graphite is a key material for battery cathode materials. It is a major raw material for cathode materials that affect battery life.
According to this agreement, LG Energy Solution will promote the joint development of artificial graphite with Novonix. If the product is successfully developed, it will be able to secure more than 50,000 tons over 10 years. It also agreed to exclusively supply Novonix production for a certain period of time and purchase products at competitive prices.
In particular, LG Energy Solutions will invest about $ 30 million (about 39.1 billion won) to acquire Novonix convertible bonds (CB) as part of securing investment stability and solid cooperative relations. For a set period of time, LG Energy Solutions can convert Novonix CB into stocks.
Novonix was founded in 2012 as a manufacturer of cathode materials based in Brisbane, Australia. Currently, it has a solid supply chain in North America, including an artificial graphite production plant in Tennessee, USA. Joe Biden is also a company that can respond to the Inflation Reduction Act (IRA), which the U.S. government is pushing for.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
