Novonix (ASX:NVX) has signed a joint collaboration agreement with UK-based cobalt and nickel salts producer ICoNiChem Widnes to develop nickel-based cathode active materials.
Both companies have been selected for funding under the 2024 Canada-UK critical minerals call for proposals, which focuses on advancing projects related to critical minerals essential for renewable energy, EVs, and electronic industries.
Novonix, which has a market capitalisation of $362.9 million, says its Canadian division Novonix Battery Technology Solutions is receiving advisory services and up to C$127,928 ($138,984) in funding from the National Research Council of Canada Industrial Research Assistance Program. Meanwhile, ICoNiChem is receiving support through Innovate UK.
The two-year project has a total budget of C$515,686 between both companies and aims to further improve the sustainability of the Novonix all-dry, zero-waste technology by including recycled metal feedstock, such as cobalt and nickel carbonates and oxides, into the process.
Novonix says its all-dry, zero-waste technology was commissioned in July 2023 and produces materials that match the performance of leading cathode materials from existing suppliers in full-cell testing.
Since then, the company has shared the results of an independent engineering study by Hatch, which shows the potential cost savings and waste reduction of its cathode synthesis process compared to the conventional wet process.
Novonix CEO Chris Burns says the company will use its patented synthesis process to synthesise, test, and analyse cathode active materials that will incorporate ICoNiChem’s recycled cobalt and nickel.
“Our involvement reflects our continued commitment to advancing sustainable solutions, reducing cathode processing costs, and strengthening the critical mineral supply chain across North America, the UK, and beyond,” Burns says.
ICoNiChem Managing Director Berk Sengul says the project will strengthen the company’s position as a global player in cobalt and nickel materials.
“This is a fantastic opportunity to work with a world-class company like Novonix to develop a UK supply chain for nickel-based cathode active materials,” Sengul says.
ICoNiChem will provide various recycled materials throughout the project to compare and demonstrate optimal performance in cathode powders.
The project will use Novinix’s cathode pilot line, alongside other services from its Canadian division. Novonix says this will support the characterisation of project materials including physical and electrochemical performance.
Novonix notes the materials will be built into full scale pouch cells to benchmark performance relative to other leading cathode materials.
Once completed, Novonix may enter into commercial agreements for ICoNiChem products with the goal of integrating recycled feed into its cathode active materials production processes moving forward.
ICoNiChem is a cobalt and nickel materials producer that was established out of The Shepherd Chemical Company, which is a global manufacturer that creates metal-based chemistries.
Novonix is a battery and technology company focused on innovative and sustainable technologies, high-performance materials, and efficient production methods.
Write to Aaliyah Rogan at Mining.com.au
Images: Novonix & ICoNiChem
