NOVONIX to Provide Battery Development and Testing Services to KORE Power

COEUR D'ALENE, Idaho, Aug. 20, 2019 (GLOBE NEWSWIRE) -- KORE Power and Novonix Battery Testing Services Inc. (“NOVONIX”, a subsidiary of Novonix Ltd (ASX:NVX), have entered into a testing and consulting services agreement in relation to KORE Power’s suite of lithium-ion battery technology, the Mark 1 Energy Storage System.

KORE Power will conduct research and development with NOVONIX to improve their battery technology utilizing NOVONIX’s proprietary battery cell testing technologies. The project will support KORE Power’s objectives of building high quality energy storage systems and battery cell manufacturing in North America.

“The team at NOVONIX will collaborate with KORE Power in our scientific development process as we work to design electrolyte and electrode optimization programs aimed at boosting capacity, reliability, and cycle life, and improving future manufacturing costs,” said Nan Wu, KORE Power’s CTO.

The research and development will include testing and improving electrolyte, cathode, and anode materials. Graphite anode materials from PUREgraphite LLC (a subsidiary of Novonix Ltd.) will be used in the program.

“We are excited to start this project and use our expertise in materials evaluation and cell design to support KORE’s vision of building energy storage systems in North America. It is a great opportunity to demonstrate how material from PUREgraphite can improve the battery lifetime of different designs with a commercial partner,” said Dr. Chris Burns, CEO of NOVONIX.

This agreement will leverage NOVONIX’s expertise along with in-house cell assembly capabilities and access to NOVONIX’s proprietary technologies. As part of the consulting services, Dr. Burns will work directly with KORE’s team as an advisor on battery technology to evaluate current and future options for energy storage systems.

“The collaboration between KORE Power and NOVONIX will ensure that our Mark 1 solution and future products are on the leading edge of commercially available battery storage systems,” said Lindsay Gorrill, CEO of KORE Power. “This collaboration is an important step for KORE, as we continue developing relationships with potential partners and customers seeking more powerful, customized solutions to meet growing demand for lithium-ion battery production.”

The testing and development agreement work will begin this month and is expected to run at least one year. There will be several phases of work relating to the use of different materials and cell design, which are hoped to improve battery performance and lower manufacturing costs.