Stocks of the Hour: NOVONIX, Syrah Resources, Ava Risk Group

Company News

by Abbey Phillipps

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NOVONIX (NASDAQ:NVX, ASX:NVX), a leading battery materials and technology company, and Panasonic Energy Co, a leading manufacturer of electric vehicle batteries in North America, has announced the signing of a binding off-take agreement for high-performance synthetic graphite anode material to be supplied to Panasonic Energy’s North American operations from NOVONIX’s Riverside facility in Chattanooga, Tennessee. Under the off-take agreement, Panasonic Energy has agreed to purchase at least 10,000 tonnes of anode material for use in their U.S. plants over the term of 2025-2028. Shares are trading 18.7 per cent higher at 73 cents.

Syrah Resources (ASX:SYR) has announced it has commenced Active Anode Material production at its 11.25ktpa AAM facility in Louisiana, making Syrah the first commercial-scale, vertically integrated natural graphite AAM supplier outside China. Vidalia is the first vertically integrated natural graphite AAM supplier outside China, processing natural graphite from Syrah’s Balama Graphite Operation in Mozambique. Shares are trading 10.19 per cent higher at 59.9 cents.

Ava Risk Group Limited (ASX:AVA) has advised that it has signed a Telstra Supply Agreement (“TSA”) with Telstra Group, establishing a substantial opportunity within the large and globally addressable telecommunications vertical. The TSA represents a significant milestone for the Company and is the culmination of 10 months of collaboration, including product trials with Telstra and its customers. Trading in the securities of the entity will be temporarily paused pending a further announcement

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