04:32 AM EDT, 05/15/2024 (MT Newswires) -- Novonix ( NVX ) said late Tuesday it signed a non-exclusive testing and development agreement with Volkswagen-owned PowerCo to come up with synthetic graphite anode materials for electric vehicle batteries.

The companies could later enter into a supply agreement for the products developed under the deal, Novonix ( NVX ) said.

Financial terms weren't disclosed.

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