PowerCo, developer of the EV battery gigafactory in St. Thomas announced Sunday it has reached a deal with battery technology company Novonix for the supply of synthetic graphite.
Novonix will supply a minimum of 32,000 tonnes of high-performance synthetic graphite material over a five-year term starting in 2027.
The graphite will be used in the production of lithium-ion batteries by PowerCo starting in 2027.
The Canadian division of Novonix is located in Nova Scotia.
PowerCo has identified three gigafactory locations – Salzgitter in Germany, Valencia in Spain, and St. Thomas.
Novonix and PowerCo previously announced the signing of a non-exclusive Testing and Development Agreement in March of this year.
