One of the fastest-growing companies on the ASX over the past year has filed to list on the NASDAQ as part of broader plans to become a leader in the electrification economy.
Brisbane-based battery technology and materials company Novonix (ASX: NVX) first flagged a secondary listing in May, with its shares surging almost 300 per cent since then and more than 500 per cent over the past 12 months.
Backed by the likes of St Baker Energy Innovation Fund, Phillips 66 (NYSE: PSX) and Washington H Soul Pattinson (ASX: SOL), Novonix also cracked into the list of Brisbane's Top 10 listed companies last year and in November inaugurated its 400,000-square-foot Riverside Recharged facility in Tennessee, USA.
Now the company is taking its global ambitions a step further after filing a registration statement Form 20-F with the US Securities and Exchange Commission (SEC), with its dual listing set to take place once the regulator and NASDAQ have completed a review process.
The securities will be part of a Level II American Depository Receipt (ADR) program with The Bank of New York Mellon as depositary, custodian and registrar, with those shares complementing the existing primary listing on the ASX.
"We believe Novonix was the first qualified supplier of high-capacity long-life synthetic graphite anode material to a major cell maker and is the only supplier with plans to provide large volumes of this key material in the US," says Novonix CEO Dr Chris Burns.
"Our technological breakthroughs are helping to power the energy storage market, leading to better performance, longer life and lower costs.
"This listing furthers our long-term goal of reshoring the EV supply chain in North America and becoming a leader in the electrification economy."
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