The company, which was spun out of battery researcher Jeff Dahn’s Tesla-funded lab at Dalhousie University, will now be split into three companies. Publicly-traded Novonix will be based in Chattanooga, Tenn., and focus on its synthetic graphite factory. Former Novonix CEO Chris Burns has purchased its battery technology division for US$1, and will run it out of Halifax as two separate companies, Avrion Battery Labs and Dryve Battery Materials. (The Logic)

Talking point: It’s a homecoming for a significant Canadian technology venture. Both Burns and Dahn rose to acclaim after working on key battery technology for Tesla. Novonix is getting a 15 per cent equity stake in Dryve in the deal, and parting with US$2 million in cash assets owned by the battery tech business that Burns founded and repurchased. Avrion will focus on R&D and battery testing services, while ​​Dryve will work on manufacturing methods for lithium-ion battery cathode materials. Novonix shares rose eight per cent on the Australian Securities Exchange.