• Commenced mass production of industrial-grade synthetic graphite in 2026
• Delayed mass production for lead battery customer Panasonic to second half of 2027
• Advancing all-dry, precursor-free cathode technology with new patent granted in China

Novonix provided a quarterly update on its key business segments. In its Anode Materials division, the company produced and delivered its first mass-production, industrial-grade synthetic graphite sample to a major customer, demonstrating its ability to produce industrial-grade products at scale. Novonix expects to begin mass production of industrial-grade graphite in 2026. However, the company announced a delay in the expected commencement of mass production for its lead battery material customer, Panasonic, which is now expected in the second half of 2027. In its Battery Technology Solutions business, Novonix launched a new UHPC Calibration Module product and saw double-digit year-over-year revenue growth. In Cathode Materials, the company continued to advance its all-dry, precursor-free cathode technology, securing a foundational patent in China. On the corporate front, Novonix appointed its CEO as Managing Director, hosted an investor/analyst day, completed a $100 million convertible debenture transaction, and hired a new Chief Operating Officer.