Phillips 66 invests in battery tech, analytics software

Phillips 66 (NYSE: PSX), Houston’s largest publicly traded company, recently made new investments into firms in lithium-ion battery technology and advanced analytics software.

Phillips 66 announced Aug. 9 that it had agreed to take a 16% stake in Novonix Ltd., a Brisbane, Australia-based battery materials and technology company. Phillips 66 will subscribe for approximately 77.96 million Novonix shares for a total purchase price of $150 million.

The investment into Novonix is driven by Phillips…