BUZZ-Australia's Novonix soars after offtake deal with Stellantis

Reuters

2024/11/11

** Shares of Novonix NVX.AX soar as much as 18.1% to A$0.850, set for best day since mid-March - if current gains hold

** Battery tech firm hits highest since late Oct

** Says it has signed a binding offtake agreement with Stellantis STLAM.MI

** Says agreement to supply minimum of 86,250 tonnes, up to a target volume of 115,000 tonnes of high-performance synthetic graphite material

** Adds material to be supplied from its Riverside facility in Chattanooga, Tennessee, to Stellantis' cell manufacturing partners in North America from 2026 until 2031

** Including day's moves, stock has risen ~12.2% this year

(Reporting by Archishma Iyer)

((Archishma.Iyer@thomsonreuters.com;))

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