Australia's Novonix rises as Canadian unit gets $2.2 mln funding

<html xmlns=""><head><title>BUZZ-Australia's Novonix rises as Canadian unit gets $2.2 mln funding</title></head><body>

** Shares of Novonix NVX.AX rise as much as 8.8% to A$0.870, set for best day since Sept 15, if gains hold

** The battery maker says its unit in Canada has recieved C$3 mln ($2.22 mln) in research and development funding and advisory services from the National Research Council of Canada Industrial Research Assistance Program

** Co will use the funds to advance two important research and development initiatives aimed at enhancing its battery materials and technology projects

** Stock set to snap two consecutive sessions of losses, if trend holds

** Novonix stock at highest level since Sept 20

** Stock down 45.6% YTD, as of last close

($1 = 1.3521 Canadian dollars)

Reporting by Adwitiya Srivastava in Bengaluru


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