Stocks of the Hour: NOVONIX, icetana, Ionic Rare Earth

NOVONIX (NASDAQ:NVX, ASX:NVX) announces results of engineering study on proprietary all-dry, zero-waste cathode synthesis process. The study found that NOVONIX’s process may potentially reduce power consumption by an estimated 25% and practically eliminate waste byproduct generation over the conventional process. In response, NOVONIX CEO Dr. Chris Burns, stated, “the cathode active materials market is projected to be greater than $100 billion in 2030 and the opportunity to deploy this new process to the battery industry is significant.” Shares are trading 7.59 per cent higher at 78 cents.

icetana (ASX:ICE) receives new $1.5m AI hardware order for 16 Middle East shopping malls. In response, Chief Executive Officer Kevin Brown commented: “While icetana is primarily a software company, we are always focussed on supporting our customers, with hardware or otherwise, in implementing our software, and ultimately on keeping their people and assets safe.” Shares are on a trading halt. Last traded at 3.3 cents.

Ionic Technologies is partnering with Ford Technologies, Less Common Metals and British Geological Survey to anchor UK rare earth supply chain from magnet recycling. In response, Ionic Rare Earth’s (ASX:IXR) Managing Director Tim Harrison commented; “We are harnessing our technology to accelerate mining, refining and recycling of magnet and heavy rare earths critical for energy transition, advanced manufacturing, and defence.” Shares are trading 12 per cent higher at 2.8 cents.
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Source: Finance News Network