Phillips 66, NOVONIX Sign Technology Development Agreement to Advance Production of Lithium-Ion Batteries in North America
Phillips 66 (PSX)
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Source: Business Wire
Collaboration builds on strategic investment and will accelerate the development of next-generation anode materials for the battery supply chain HOUSTON & BRISBANE, Australia--(BUSINESS WIRE)--Phillips 66 (NYSE: PSX) and NOVONIX Limited (ASX: NVX, OTC: NVNXF) today announced they have signed a technology development agreement to advance the production and commercialization of next-generation anode materials for lithium-ion batteries.“This agreement builds on our strategic investment in NOVONIX and is a natural next step for two companies committed to innovation and a lower-carbon future,” said Ann Oglesby, Vice President of Energy Research & Innovation at Phillips 66. “It sets the framework for the companies to work closely and collaboratively to accelerate the development of next-generation materials for the U.S. battery supply chain.”Phillips 66 became a major investor in NOVONIX in September of 2021, when it acquired a 16% stake in the company. The investment is supporting NOVON
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