Novonix (ASX:NVX) share price is powering up 18% today. Here’s why

The Novonix Ltd (ASX: NVX) share price is soaring in midday trade. This comes after the company announced a partnership agreement with Emera Technologies on developing innovative battery technology.

At the time of writing, shares in the integrated developer and supplier of high-performance materials, equipment, and services for the lithium-ion battery industry are up 18.4% to $3.41.

What did Novonix announce?

The Novonix share price is rising after reporting a positive update that could open the door to new market opportunities.

In today’s release, Novonix advised that it will collaborate with Emera Technologies to develop and manufacture energy storage systems. This will be conducted through Novonix’s wholly-owned subsidiary,…