Today, the Company announced that it has finalized and closed the previously announced sale of its NOVONIX Battery Technology Solutions Inc. business in Nova Scotia, Canada, to its former Chief Executive Officer, Dr. Chris Burns.
“The divestiture of the BTS division reflects our disciplined strategy of building a vertically integrated synthetic graphite supply chain in North America,” said Mike O’Kronley, CEO of NOVONIX. “By divesting non-core business segments, we are directing our management attention and capital toward advancing domestic supply of this critical mineral and supporting the growth of the North American battery industry.”
BTS will now operate as two independent companies: Avrion Battery Labs Inc., which will provide advanced battery testing systems and specialized R&D services, and Dryve Battery Materials Inc., which will continue efforts to commercialize the patented pCAM-free dry synthesis platform for lithium-ion cathode materials.
Read the full press release here:
novonixgroup.com/news/novoni…
Visit Avrion and Dryve’s LinkedIn here:
Avrion ➡️
linkedin.com/company/avrion-…
Dryve ➡️
linkedin.com/company/dryve-m…