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- NOVONIX (NVX) announces preliminary results of environmental impact study to show the company offers a 60 per cent decrease in CO2 emissions
- The company has appointed UK-based consultancy, Minviro, to conduct a life cycle assessment (LCA) on a grade of NVX’s synthetic graphite GX-23 product
- The current study involves a complete ‘cradle-to-gate’ assessment of a grade of synthetic graphite from its anode production process, benchmarking all results against other natural and synthetic anode grade graphite projects
- The company says the study results will help optimise its environmental performance and allow it to lead in sustainability-focused decision-making within the sector
- NOVONIX shares are in the green, up 1.4 per cent to trade at $9.07 at 11:51 am AEDT
NOVONIX (NVX) has announced the preliminary results of an environmental impact study showing the company offers an approximate 60 per cent decrease in CO2 emissions.
The company has appointed a UK-based consultancy, Minviro, to conduct a life cycle assessment (LCA) on a grade of NVX’s synthetic graphite EV and ESS battery anode product, GX-23.
LCA is a globally-recognised tool for quantifying the direct and embodied environmental impacts associated with a particular product or process.
Additionally, they can provide a detailed account of the environmental footprint of a project and identify ‘hotspots’ in process flows, as well as quantifying acidification potential, disease incidence and water use impacts.
The current study involves a complete ‘cradle-to-gate’ assessment of a grade of synthetic graphite from NOVONIX anode materials division’s production process and benchmarks all results against other natural and synthetic anode grade graphite projects.
The study also contextualises the product’s environmental performance relative to the kWh of a final lithium-ion battery in an electric vehicle and kilometres travelled.
If final results confirm the company’s 60 per cent decrease in CO2 emissions, NOVONIX’s GX-23 product will show it is 2.5 times better for the environment than Chinese synthetic graphite EV and ESS battery anode material.
NOVONIX CEO, Dr Chris Burns, says the environmental impact is important.
“As we continue to see tremendous growth in demand for key battery materials such as synthetic graphite, cell manufacturers and automotive OEMs are not only looking for companies that can produce high performance materials at competitive costs but also those that prioritise environmental responsibility,” he said.
Minviro founder and director, Dr Robert Pell, also commented.
“We are excited to be working with NOVONIX on quantifying the impact of their production process, especially considering the importance of the material to the low-carbon transition,” he said.
NOVONIX’s anode materials division is based in Tennessee, North America, where it’s scaling up capacity to produce 150,000 metric tons per year of synthetic graphite by 2030.
The company says the study results will help optimise the project environmental performance and allow it to lead in sustainability-focused decision-making within the sector.
NOVONIX shares are in the green, up 1.4 per cent to trade at $9.07 at 11:51 am AEDT.
