NOVONIX: Leading The Charge (research as of 8/17)

Summary as of 8/17

• NOVONIX Limited (ASX: NVX, NASDAQ: NVX, OTCQX: NVNXF) CEO and Co-founder, Dr. Chris Burns, is passionate about his work and laser focused on enabling a cleaner energy future.
• Technical advisor, Dr. Jeff Dahn, is recognized as a pioneer in the field of lithium-ion batteries also shares a passion for clean energy.
• NOVONIX continues to innovate in the clean energy space over the graphite anode material production process and "BTS" (Battery Technology Solutions, not the band). Time is money, and companies within the industry are paying Novonix for the time that their BTS saves them.

Mission:

NOVONIX is "an integrated developer and supplier of high-performance materials, equipment, and services for the global lithium-ion battery industry with operations in the United States and Canada and sales worldwide." Meaning, they produce graphite anode materials for lithium-ion batteries, battery technology solutions in terms of products and services. Products include: Ultra-high precision Coulometry cyclers, thermal chambers, and cell connectors. Services include: materials development and characterization, cell designs and prototyping, and cell testing. These products and services charge the company's mission of enabling a clean energy future.

Select management qualifications and experience overview:

CEO and Co-founder, Dr. Chris Burns:

• PhD and MS in Physics from Dalhousie University
• BS in Physics from St. Francis Xavier University
• Former Senior Research Engineer at TESLA, and their first technical hire in Canada.
• Holds multiple patents related to Li-ion batteries.
• Co-developed the breakthrough Ultra-High-Precision-Coulometry (UHPC) technology with Dr. Jeffery Dahn (will be discussed in part 2)

Co-founder and Technical advisor, Dr. Jeffery Dahn:

• B.Sc. in Physics from Dalhousie University.
• Ph.D. from the University of British Columbia
• Professor in the Department of Physics & Atmospheric Science and the Department of Chemistry at Dalhousie University.
• One of the pioneering developers of the lithium-ion battery.
• Began a 5-year research partnership with Tesla Motors, in order to improve the energy density and lifetime of lithium ion batteries, along with reducing their cost.

Products (brief overview):

Novonix's GX-23 synthetic graphite

NOVONIX has developed a new way to produce graphite anode material required for long battery life for lithium-ion batteries within the US, which reduces reliance on material sourced from Asia, which is costly to procure and import. These materials are critical for electrical vehicles, and a cleaner energy future. Currently, NOVONIX Anode Materials is scaling in Chattanooga, TN. In comparison with competitors synthetic graphite, Novonix's GX-23 synthetic graphite provides:longer battery life, more cost competitive, safer, and greener. The longer life is illustrated below with the x-axis ranging from 0 to 1000 cycles.

At 1000 cycles, NOVONIX has demonstrated superior performance and longer life compared against best in class synthetic graphite, natural graphite, and a leading EV company. In terms of being greener, their synthetic graphite has lower energy consumption, does not undergo chemical purification, and comes from low emission energy sources.

Battery Technology Solutions:

A combination of products and services to assist companies achieve their production and R&D goals.

Battery Technology Products:

Ultra High Precision Coulometry Cyclers:

NOVONIX utilizes UHPC (Ultra-High Precision Coulometry, see section titled UHPC) in it production process. These cyclers are instrumental to making precise evaluations of lithium-ion cells. The cyclers produce comparison measurements of cell performance in weeks instead of months or longer of long term-cycling.

Thermal chambers:

Utilized for reducing noise in measured cell data. Provides accurate and stable temperature control, and accommodates a range of cell sizes.

Cell connectors:

NOVONIX offers 6 different types of cell connectors as part of their goal to provide fully integrated systems.

Battery Technology Services:

Materials Development and Characterization:

NOVONIX has a range of materials analysis capabilities and provides services that assist with the characterization, development, and demonstration of lithium-ion-battery components, including anodes, cathodes, additives, conductors, and electrolyte formulations.

Cell Design and Prototyping:

NOVONIX has designed a custom pouch and cylindrical cell manufacturing pilot line to help companies achieve the results they desire. For prototyping, they offer consulting and contract services for cell design, cell and material development, cell optimization, and customer cell manufacturing, and to aid companies in their process, they possess equipment for cell winding, tab welding, cylindrical can shaping, pouch cell forming and pouch sealing.

Cell testing:

They offer the following cell testing services which were created to aid companies in battery research and development, and cell evaluation:

• Ultra-High precision coulometry (UHPC) cycling
• Cycle life testing
• Calendar aging tests
• Long-term cycling tests
• Electrochemical impedance spectroscopy measurements
• Gassing and gas volume studies
• Non-destructive electrolyte analysis

UHPC: (Ultra-High precision coulometry)

First introduced in Dr. Dahn's lab, UHPC is now a method that measures Coulombic efficiency (high CE means a longer battery cycle life/period between recharges) extremely precisely. Since high accuracy, high precision testing is needed, this method is extremely valuable. It enables reliable predictions of the lifetime of batteries over a shorter period of time than competitors testing methods. UHPC is reliable and repeatable and therefore helps battery R&D. Better cell measurements in weeks instead of days. Time is money and companies will pay for that time.

I believe in this company and love how they are innovating in the space they are in. I’ve been long this stock since before they listed on the OTCMKTS, and will hold shares in stock unless there are major structural/fundamental changes within the organization that force me to reconsider my position. If there are any comments (or inaccuracies noted), please leave them below. I'd appreciate the learning opportunity. To add to this intial aggregation of public data, I'm planning on digging into the fundamentals of the company. At this time, I don't have any actionable advice. Simply food for thought on a company that is passionately creating value. I'm always working on a million different things at once, so when I get time, i'll revisit this piece and build it out!