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inks offtake with PowerCo amid supply chain diversification","novonix-inks-offtake-with-powerco-amid-supply-chain-diversification","article/novonix-inks-offtake-with-powerco-amid-supply-chain-diversification",{"_uid":557,"date":558,"tags":559,"editor":569,"content":579,"excerpt":645,"featured":51,"reporter":646,"_editable":650,"component":651,"seo_title":553,"categories":652,"visibility":659,"author_company":49,"data_vis_image":660,"featured_image":664,"seo_description":645,"author_full_name":49,"author_job_title":49,"formattedDate":667,"formattedArticleDate":668},"f8908f1d-e41d-4bf7-8a72-1aeead36059e","2024-11-26 00:00",[560,563,566],{"slug":561,"name":562},"data-visualisation","Data Visualisation",{"slug":564,"name":565},"novonix","Novonix",{"slug":567,"name":568},"powerco-se","PowerCo SE",[570],{"slug":571,"name":572,"content":573},"matthew-bird","Matthew Bird",{"job_title":574,"image":575,"bio":577,"linkedin":578},"Senior Editor - Supply Chains & Data Visualisation",{"filename":576},"https://a.storyblok.com/f/287943243085208/512x512/14738033ec/matthew-bird.jpeg","Matthew writes, edits and produces content for Benchmark Intelligence and Benchmark Source across the whole mine to grid supply chain. He also acts as a liaison to the press. He has a PhD in electrochemistry from the University of Nottingham.","https://www.linkedin.com/in/birdmatthew/",{"type":580,"content":581},"doc",[582,589,594,599,606,611,616,625,630,635,640],{"type":583,"attrs":584,"content":585},"paragraph",{"textAlign":49},[586],{"text":587,"type":588},"NOVONIX has signed a binding offtake agreement with PowerCo, a subsidiary of Volkswagen, for synthetic graphite anode material as geopolitical uncertainty continues to drive supply chain diversification.","text",{"type":583,"attrs":590,"content":591},{"textAlign":49},[592],{"text":593,"type":588},"The company will supply a minimum of 32,000 tonnes of synthetic graphite to PowerCo for a five-year term starting in 2027. ",{"type":583,"attrs":595,"content":596},{"textAlign":49},[597],{"text":598,"type":588},"The battery materials player is expected to begin production at its Riverside facility Tennessee, US in H1 2025. The deal gives NOVONIX enough customer support to progress plans for a second facility in the southeastern US with an initial capacity of 30,000 tonnes per year.",{"type":600,"attrs":601,"content":603},"heading",{"level":602,"textAlign":49},4,[604],{"text":605,"type":588},"Why is there increasing demand for ex-China graphite?",{"type":583,"attrs":607,"content":608},{"textAlign":49},[609],{"text":610,"type":588},"“This surge is driven by the advantages provided by the Inflation Reduction Act (IRA), including Department of Energy investments and tax credits. These incentives have spurred the development of onshore anode material production and attracted more customers seeking future supply of IRA-compliant material,” said Tony Alderson, senior analyst at Benchmark.",{"type":583,"attrs":612,"content":613},{"textAlign":49},[614],{"text":615,"type":588},"“The supply side of these offtake agreements is primarily based in the USA, with over 247,000 tonnes per year secured throughout 2024,” added Alderson.",{"type":583,"attrs":617,"content":618},{"textAlign":49},[619],{"type":620,"attrs":621},"image",{"id":49,"alt":622,"src":623,"title":49,"source":49,"copyright":49,"meta_data":624},"Stacked column chart showing ex-China anode deals post IRA and China export regulations for each year from 2024 to 2034 in tpa","https://a.storyblok.com/f/287943243085208/85bb6c52bb/bm-anode-landscape-post-enactment-of-ira-chinas-export-regulations2x-3.png",{},{"type":600,"attrs":626,"content":627},{"level":602,"textAlign":49},[628],{"text":629,"type":588},"How are Chinese export restrictions impacting the market?",{"type":583,"attrs":631,"content":632},{"textAlign":49},[633],{"text":634,"type":588},"Aside from IRA incentives, ex-China downstream players have sought graphite anode material from outside of China after the country implemented export regulations in December 2023. ",{"type":583,"attrs":636,"content":637},{"textAlign":49},[638],{"text":639,"type":588},"China produces the majority of both natural and synthetic graphite, making the restrictions especially concerning to companies that operate outside the country.",{"type":583,"attrs":641,"content":642},{"textAlign":49},[643],{"text":644,"type":588},"The re-election of Donald Trump to the White House exacerbates these geopolitical tensions. Trump has promised to increase the rate and scope of tariffs on Chinese products and is generally hawkish towards the country.","NOVONIX has signed a binding offtake agreement with PowerCo, a subsidiary of Volkswagen, for synthetic graphite anode material as geopolitical uncertainty continues to drive supply chain diversification. The company will supply a minimum of 32,000 tonnes of synthetic graphite to PowerCo for a five-year term starting in 2027. The battery materials player is expected to […]",[647],{"slug":571,"name":572,"content":648},{"job_title":574,"image":649,"bio":577,"linkedin":578},{"filename":576},"\u003C!--#storyblok#{\"name\": \"article\", \"space\": \"\", \"uid\": \"f8908f1d-e41d-4bf7-8a72-1aeead36059e\", \"id\": \"\"}-->","article",[653,656],{"slug":654,"name":655},"critical-minerals","Critical Minerals",{"slug":657,"name":658},"graphite","Graphite","private",{"id":49,"alt":622,"name":661,"focus":661,"title":622,"source":661,"filename":623,"copyright":661,"fieldtype":662,"meta_data":663,"is_external_url":51},"","asset",{"alt":622,"title":622,"source":661,"copyright":661},{"id":49,"alt":661,"name":661,"focus":661,"title":661,"source":661,"filename":665,"copyright":661,"fieldtype":662,"meta_data":666,"is_external_url":51},"https://a.storyblok.com/f/287943243085208/3fe169a90d/bm-novonix-powerco-se-offtake.jpg",{"alt":661,"title":661,"source":661,"copyright":661},"Nov 26, 2024","26th November 2024",[],[],1792773893617]