Novonix (ASX:NVX) has completed a fully underwritten $44.4m institutional placement, issuing approximately 74.1 million new shares at $0.60 each. The placement, aimed at institutional and sophisticated investors, was well-supported by existing shareholders and welcomed several new investors....

Chairman Admiral Robert J Natter noted, “The support from institutional shareholders and major backer Phillips 66 highlights confidence in Novonix's growth strategy.” CEO Dr Chris Burns added, “This funding supports our expansion in anode materials production and enables access to a Department of Energy grant of up to US$100 million.”...

The capital raising comes on the back of supply agreements with Volkswagen's PowerCo and global automotive group Stellantis....

The proceeds will fund an increase in Novonix’s production capacity to 3,000 tonnes per annum at its Riverside facility in 2025. Additionally, approximately 12.8 million shares will be issued to major shareholder Phillips 66 through a conditional placement, pending shareholder approval at an extraordinary general meeting scheduled for 22 January 2025....

The company has also announced a share purchase plan (SPP) targeting $5m from eligible Australian and New Zealand shareholders, offering the same $0.60 share price. However, the SPP is subject to regulatory waivers or shareholder approval....

Novonix manufactures high-performance synthetic graphite for lithium-ion batteries and develops patented technologies for the electric vehicle and energy storage markets....

Shares are currently 17.1% lower at 80 cents....

VeriQuantix, a new cybersecurity company, specializes in Quantum Link Verification, a cutting-edge technology designed to secure fiber optic communication networks....

CEO Peter Baynes highlights the vulnerabilities of current fiber optic systems, especially in the "last mile," where data breaches often go undetected....

The company’s solution uses quantum principles, specifically entangled photons, to verify the trustworthiness of network links....

By leveraging quantum interference, VeriQuantix ensures that any unauthorized access or tampering will immediately disrupt the photon entanglement, alerting network operators in real time....

Unlike traditional encryption methods, which can be susceptible to future quantum computing breakthroughs, VeriQuantix’s approach is robust, simple, and scalable....

Their product roadmap includes developing a miniature system for data centers, followed by a system-on-chip version....

With the rapidly growing optical transceiver and data center security markets, VeriQuantix aims to become a major player in securing quantum-safe networks, with plans for seed investment and further rounds of funding....

Empire Energy Group (ASX:EEG) has been on a roll recently, announcing approval of its environmental management plan and the commencement of drilling. Today, the company announced the execution of binding commitment letters with Macquarie Bank for a $65m financing package to advance the Beetaloo Basin projects. The funding comprises three facilities designed to support key initiatives, including exploration, infrastructure construction and environmental obligations....

The financing includes a $30m Research and Development (R&D) Facility, upsized from $2.25m, tied to future tax rebates under Australia’s R&D Tax Incentive Scheme. Funds will cover exploration and infrastructure activities, such as the Carpentaria-5H well. Additionally, a $5m Performance Bond Facility will address Northern Territory environmental bonding requirements. Finally, a new $30m Midstream Infrastructure Facility will finance the refurbishment and construction of the Carpentaria Gas Plant, with repayments structured through tolling fees....

Managing Director Alex Underwood commented: “Macquarie has been financing Empire Energy for 15 years. This package enables us to progress towards pilot production in 2025, targeting demand in the Northern Territory and Australia’s east coast market.”...

Empire is currently drilling the intermediate section of the Carpentaria-5H well, with plans to target the Middle Velkerri B shale interval. The company has reported a cash balance of $34.8m as of September 2024....

Shares are trading 2.38% higher at 21.5 cents....

Novonix (ASX:NVX) has secured a binding agreement with Volkswagen subsidiary PowerCo SE to supply a minimum of 32,000 tonnes of high-performance synthetic graphite from 2027 to 2031. The deal reinforces Novonix’s influence in the North American battery supply chain and follows a similar agreement with Stellantis earlier this month to supply a minimum of 86,250 tonnes, up to a target volume of 115,000 tonnes of graphite....

Novonix develops and produces materials and technologies for lithium-ion batteries, focusing on synthetic graphite anodes, battery cell testing equipment, and zero-waste cathode synthesis. The company operates manufacturing facilities in North America and explores graphite resources to ensure a sustainable supply chain for its battery materials....

PowerCo, established by Volkswagen in 2022, oversees battery cell production for the automotive giant. It operates gigafactories in Germany, Spain, and Canada, with a combined capacity target of up to 200 GWh annually. The agreement with Novonix follows a Testing and Development Agreement signed earlier this year....

Novonix's Riverside facility in Tennessee, expected to commence production in 2025, will supply the synthetic graphite. The facility is projected to scale up to 20,000 tonnes per annum initially, with additional capacity planned through a second site in the southeastern United States. Total production is forecast to reach 150,000 tonnes annually to meet growing demand from electric vehicle and energy storage sectors....

The deal is contingent on Novonix achieving production milestones, securing financing, and meeting compliance criteria. PowerCo retains the option to terminate the agreement if these conditions are not met....

Previously, Novonix was awarded a US$100m grant and a US$103m tax credit from the US Department of Energy to support its operations, highlighting its role in advancing the clean energy transition....

Shares in Novonix are trading 14.86% higher at 85 cents....

Empire Energy Group (ASX:EEG) has announced that the Northern Territory Government has approved its Environmental Management Plan (EMP) for the Carpentaria Pilot Project in the Beetaloo Basin. This approval covers key components of the project, including the drilling of up to nine new wells, installation of the Carpentaria Gas Plant, and connection to the McArthur River Pipeline for gas export....

Empire Energy is an oil and gas exploration and production company focused on unconventional gas resources in the Northern Territory's Beetaloo and McArthur Basins. "Unconventional" refers to natural gas found in rock formations like shale or tight sandstone, which require advanced extraction techniques, such as hydraulic fracturing, to release. Empire aims to tap into these resources to help meet Australia’s energy demands while supporting a transition to cleaner fuel sources. The east coast gas market may experience gas supply shortfalls as early as 2027....

The EMP approval allows Empire to advance its pilot production plans, initially focusing on drilling the Carpentaria-5H well. Empire has reported that the Ensign Rig #965 is now on location, and drilling is set to begin soon....

Empire’s Managing Director, Alex Underwood, highlighted the project's expected benefits, noting its potential to supply gas to the Northern Territory, create jobs, and support energy affordability across the region....

The project’s final regulatory step involves approval to sell gas under the Northern Territory’s Beneficial Use of Test Gas provisions. Stakeholder consultations, including discussions with traditional landowners, are already in progress....

Shares in Empire Energy have jumped 13.51% on the back of this news to 21 cents....