Novonix (ASX:NVX) entered into a licensing agreement with Harper International for the rights and use of its continuous, induction-based graphitization furnace technology, according to a Friday filing with the Australian bourse.
The company will make an initial payment no later than December, which will grant the dual-listed firm an exclusive license to use the technology to further develop the furnaces used for the thermal production of graphite material.
The license will expand to include Novonix's right to build equipment using the licensed technology, either internally or through other permitted sublicensees, conditional upon the equipment meeting performance objectives as well as the firm's payment of additional licensing fees within two years of the initial license grant.
The companies started a strategic partnership to develop graphitization furnace technology for the production of synthetic graphite anode material for the lithium-ion battery sector in December 2020.
Novonix's shares fell over 1% in early trade on Friday.
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