Cloud PRWire

Lithium Energy agrees to spin out new graphite company with NOVONIX

–News Direct–

Lithium Energy Ltd (ASX:LEL) general manager of projects Graham Fyfe sits down with Proactives Jonathan Jackson to discuss a pivotal agreement with NOVONIX Ltd to merge Queensland graphite assets, leading to the formation of Axon Graphite Ltd. This strategic move aims to amass a high-grade graphite inventory, propelling the development of an Australian-based, vertically integrated battery anode material (BAM) business. Axon Graphite, which plans to IPO, will focus on leveraging the combined strengths of the Burke and Mt Dromedary graphite deposits, optimising operational synergies and economies of scale. Lithium Energy shareholders stand to gain from this venture, with a priority offer and retained interest in Axon, highlighting a promising trajectory for this dedicated Australian graphite enterprise.