Phillips 66, an American multinational energy company, agreed to invest $150m in NOVONIX, an Australia-based company that develops and supplies in-demand materials for lithium-ion batteries. "This strategic investment enables Phillips 66 to directly support the development of the US battery supply chain. It advances our commitment to pursue lower-carbon solutions while leveraging our leadership position and expertise in the specialty coke market and supporting NOVONIX’s emerging position in US-based anode production," Greg Garland, Phillips 66 Chairman and CEO.