08:02 AM EDT, 10/09/2024 (MT Newswires) -- Novonix ( NVX ) has entered into partnerships with ICoNiChem and Voltaiq to develop nickel-based cathode active materials and accelerate battery development cycles, respectively, the companies announced Tuesday.

Novonix ( NVX ) and ICoNiChem said they will undertake a two-year project that could lead to commercial agreements to incorporate ICoNiChem's recycled cobalt and nickel carbonates into Novonix's ( NVX ) cathode active materials production processes.

The project has a budget of 515,686 Canadian dollars ($377,000) and is getting government support under the Canada-UK critical minerals call for proposals, the companies said. Novonix's ( NVX ) Novonix Battery Technology Solutions unit in Canada is receiving advisory services and up to CA$127,928 in government funding while ICoNiChem is receiving support through Innovate UK, they added.

In a separate statement, Novonix ( NVX ) and Voltaiq said their collaboration is expected to lead to faster time-to-market for new battery technologies by combining Voltaiq's battery quality analytics software with Novonix's ( NVX ) ultra-high precision coulometry equipment and battery R&D and materials development program.