Why is the Novonix share price pushing higher on Friday?

Why is this battery materials stock ending the week higher? Let's find out.

| More on:
Two happy excited friends in euphoria mood after winning in a bet with a smartphone in hand.

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The Novonix Ltd (ASX: NVX) share price is ending the week on a positive note.

In morning trade, the battery materials and technology company's shares are up almost 3.5% to 75.5 cents.

What's going on with the Novonix share price today?

Investors have been buying the company's shares after it announced that it has entered into a licensing agreement with its long-time technology partner, Harper International Corporation.

Harper International describes itself as a global leader in complete thermal processing solutions and technical services essential for the production of advanced materials.

According to the release, the two parties have signed an agreement for the rights and use of Harper International's continuous, induction-based graphitisation furnace technology.

The release notes that four years ago, Novonix and Harper International announced a strategic partnership to develop innovative graphitisation furnace technology to be used to produce synthetic graphite anode material for the lithium-ion battery sector.

This partnership provided for commitments from Novonix to purchase from Harper International, and from Harper International to develop and exclusively supply Novonix with proprietary systems for thermal processing material for the battery anode market.

What else?

Novonix advised that the licensing agreement also provides it with the right to an exclusive license to Harper International's technology on which its continuous graphitisation furnaces operate.

Upon making an initial payment within 12 months of the effective date of the agreement, the company will have the exclusive license to use the technology to further develop the furnaces used for the thermal production of graphite material for use in the battery anode market.

And upon equipment meeting certain performance objectives, and Novonix's payment of additional licensing fees, the license will then expand to include its right to build equipment using the licensed technology. This is either internally or through other permitted sublicensees.

Harper International's technology certainly could come in handy at Novonix's Riverside facility, which is located in Tennessee, United States.

It is poised to become the first large-scale production site dedicated to high-performance synthetic graphite for the battery sector in North America. The company advised that it is targeting the commencement of commercial production later this year and has plans to grow its output to 20,000 tonnes per annum to meet current customer commitments.

The Novonix share price is now up approximately 15% since this time last year. Though, it remains down heavily on a two-year basis.

Should you invest $1,000 in Chalice Gold Mines Limited right now?

Before you buy Chalice Gold Mines Limited shares, consider this:

Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now... and Chalice Gold Mines Limited wasn't one of them.

The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

And right now, Scott thinks there are 5 stocks that may be better buys...

See The 5 Stocks *Returns as of 30 April 2025

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Share Market News

Contented looking man leans back in his chair at his desk and smiles.
Share Market News

5 things to watch on the ASX 200 on Friday

Will the market finish the week on a high? Let's find out.

Read more »

Person pressing the sell button on a smartphone.
Broker Notes

Sell alert! 3 ASX shares the brokers are calling time on

Brokers say it's time to hit the sell button on these ASX shares.

Read more »

A couple smile as they look at a pregnancy test.
Share Market News

After the recent debacle, what price target does Macquarie have on Monash IVF shares?

Supported by strong industry tailwinds, this ASX stock could be worth a second look.

Read more »

Fancy font saying top ten surrounded by gold leaf set against a dark background of glittering stars.
Share Gainers

Here are the top 10 ASX 200 shares today

It was the ASX's fourth day of gains for the week today.

Read more »

A happy couple drinking red wine in a vineyard.
Best Shares

5 ASX 200 shares just upgraded to strong buy ratings

The experts say these 5 shares are set to rise over the next 12 months.

Read more »

Businessman using a digital tablet with a graphical chart, symbolising the stock market.
Share Market News

What is next for ASX 200 shares after last month's upheaval?

Macquarie reveals its outlook for ASX 200 shares in May in a new research note published today.

Read more »

a man raises his fists to the air in joyous celebration while learning some exciting good news via his computer screen in an office setting.
Share Gainers

Why Cedar Woods, Healius, NextDC, and Platinum shares are charging higher today

These shares are rising on Thursday. But why are investors buying them? Let's find out.

Read more »

A young man clasps his hand to his head with his eyes closed and a pained expression on his face as he clasps a laptop computer in front of him, seemingly learning of bad news or a poor investment.
Share Fallers

Why Brainchip, DroneShield, Resolute Mining, and Woodside shares are falling today

These shares are under pressure on Thursday. What's going on?

Read more »