NGen invests $1.3 million in NOVONIX for cathode facility in Nova Scotia

Lithium-ion battery firm NOVONIX has received 1.675 million Canadian dollars ($1.3 million US) from Next Generation Manufacturing Canada (NGen) as part of a larger investment in building a battery development and manufacturing facility in Nova Scotia.

According to NOVONIX, “The new facility will play a key role in building a Canadian battery materials supply chain, limiting the current dependence on Asia and capitalizing on the tremendous growth in this sector created by the increased demand for electric vehicles and grid energy storage.”

NGen is a non-profit organization composed of manufacturers, technology firms and researchers that share the goal of developing advanced manufacturing in Canada. NGen’s investment in the NOVONIX project is part of some $14 million it plans to invest to build a facility in Dartmouth, Nova Scotia for producing cathodes, with support from Canadian construction and manufacturing company Well Engineered.

Source: NOVONIX