Novonix Signs Agreement with Stellantis

(Reuters) – Australian battery maker Novonix announced on Monday (NASDAQ:MNDY) a binding off-take agreement with automaker Stellantis (NYSE:STLA) to supply high-performance synthetic graphite material to cell manufacturing partners in North America.

Agreement Details

As part of the agreement, the Brisbane-based company will supply a minimum of 86,250 metric tons, aiming for a target of 115,000 metric tons of synthetic graphite. Supply will come from its Riverside facility in Chattanooga, Tennessee, to Stellantis' partners in North America from 2026 to 2031.

CEO Statement

Novonix CEO Chris Burns remarked, "This contract allocates the remainder of our available volumes at our Riverside facility and a portion of volumes to be produced at our planned greenfield facility."

Future Expansion

Additionally, Novonix is progressing on constructing a new production facility in the southeastern United States. This facility is expected to have an initial capacity of 30,000 metric tons per annum (tpa), with plans to expand to 75,000 tpa.