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( ) shares are starting the week on a positive note. In morning trade, the ASX 300 battery tech stock is up 11% to 82 cents. Why is this ASX 300 battery tech stock jumping? Investors have been snapping up Novonix shares today after the company a binding offtake agreement. This is the second agreement of its type it has announced this month. The first was . Today's agreement is with PowerCo. It was established by auto giant in 2022 and is committed to ramp-up global battery cell production. PowerCo oversees international factory operations, advances in cell technology, and vertical integration of the battery value chain. It has identified three gigafactory locations – Salzgitter in Germany, Valencia in Spain, and St. Thomas in Canada. These have a combined capacity of up to 200 GWh/year. Offtake agreement According to the release, the binding offtake agreement is for a minimum of 32,000 tonnes of high-performance synthetic graphite material. This material will be supplied to PowerCo over a five-year term starting in 2027. This is subject to the ASX 300 battery tech stock achieving agreed upon milestones regarding final mass production qualification and satisfying certain compliance criteria. It must also secure financing commitments for the production facilities that will supply PowerCo product. Products will be priced under an undisclosed pricing structure that has been agreed between the parties. This agreement follows the previously announced signing of a non-exclusive testing and development agreement back in March. Riverside production plans The ASX 300 battery tech stock notes that this agreement means that its Riverside facility is poised to become the first large-scale production site dedicated to high-performance synthetic graphite for the battery sector in North America. It is slated to begin commercial production in 2025, with plans to grow output to 20,000 tonnes per annum (tpa) to meet current customer commitments. But it won't stop there. The demand outlook is so positive that Novonix is progressing plans to build a second production facility in southeastern United States that will have an initial capacity of 30,000 tpa and plans to expand that facility to 75,000 tpa. It is in discussions with the U.S. Department of Energy Loan Program Office (LPO) for an Advanced Technology Vehicles Manufacturing Program loan to support the construction of this new production facility. As things stand, ASX 300 battery tech stock's current plans call for total production to increase to at least 150,000 tpa of synthetic graphite material to accommodate anticipated customer demand.Meet the 12 CFP Title Contenders: No. 12 ClemsonIntel, UnitedHealth And Rocket Lab Are Among Top 11 Large Cap Losers Last Week (Dec 2-Dec 6): Are The Others In Your Portfolio?
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Colby Rogers made 6 of 9 3-pointers and scored 28 points as host Memphis defeated No. 16 Ole Miss 87-70 on Saturday afternoon. Rogers fouled out and finished one 3-pointer and one point short of his career-highs in both categories and Memphis never trailed. PJ Haggerty added 17 points, Dain Dainja had 16 and Moussa Cisse, an Ole Miss transfer who's in his second stint with the Tigers (10-3), had 13 points and 11 rebounds. Sean Pedulla scored 13, Jaylen Murray had 12 and Malik Dia added 11 to lead the Rebels (11-2), who had won their last five games. Memphis scored the first five points of the second half to increase its lead to 43-36. Pedulla made a layup for Ole Miss' first points, but Nicholas Jourdain made consecutive field goals to push the lead to nine. Mikeal Brown-Jones made two free throws for the Rebels before Haggerty made a 3-pointer and Cisse added a tip-in for a 52-40 lead. Pedulla made a jumper before Brown-Jones was ejected for committing a Flagrant 2 foul. Haggerty made both of the technical free throws and Rogers added two 3-pointers to push the lead to 16. Ole Miss got within 11 points four times, but couldn't get any closer until Matthew Murrell's dunk trimmed the lead to 76-67 with five minutes remaining. Rogers answered with a 3-pointer and Dainja added two field goals to increase the lead to 16. Murray made a free throw, but the Rebels didn't make a field goal during the final 5:32. The Tigers scored the first four points of the game and Haggerty had four as they opened a 9-2 lead. The Rebels made consecutive field goals before Memphis scored eight straight points for a 17-6 lead. Eduardo Klafke made a 3-pointer to end the run, but Rogers' 3-pointer helped the Tigers increase the lead to 27-14. Ole Miss scored the next seven points before Cisse's basket ended the run. The Rebels closed within four points four times Brown-Jones made two free throws to trim the lead to 38-36 at halftime. --Field Level MediaThick fog disrupts flights on busy UK travel weekend