Novonix - NVNXF STOCK NEWS

NOVONIX (NASDAQ: NVX) announced a leadership transition as CEO Dr. Chris Burns steps down effective January 24, 2025. Burns, who has led the company since September 2020, will continue as Special Advisor to the Board. The company has initiated a search for a new CEO to be based in Chattanooga, Tennessee, focusing on candidates with experience in manufacturing, operations, and scale-up.

Chief Financial Officer Robert Long will serve as interim CEO until a permanent replacement is found. The transition comes as NOVONIX prepares to begin production at its Riverside facility in 2025, marking a important phase in the company's synthetic graphite production expansion plans. Under Burns' leadership, NOVONIX has developed innovative technology, new products, and secured significant support from US Government, investors, and customers, establishing itself as a leader in North American battery materials.

NOVONIX (NASDAQ: NVX) has secured a licensing agreement with Harper International for exclusive rights to their continuous, induction-based graphitization furnace technology. The agreement builds upon their December 2020 strategic partnership for developing synthetic graphite anode material production technology.

The deal requires NOVONIX to make an initial payment by December 2025 for internal use rights, with additional fees due within two years to expand rights for building equipment. The license will be exclusive for seven years after full payment, becoming non-exclusive thereafter.

NOVONIX's Riverside facility in Chattanooga, Tennessee, is set to begin commercial production this year, targeting 20,000 tonnes annual output. The company has secured significant government support, including a US$100 million DOE grant, a US$103 million investment tax credit, and a conditional US$754.8 million DOE loan commitment for its proposed NOVONIX Enterprise South facility.

NOVONIX (NASDAQ: NVX) announced plans to enter a purchase agreement with Chattanooga and Hamilton County for land to build its second mass production plant, NOVONIX Enterprise South. The new facility is expected to reach a production capacity of 31,500 tonnes per annum by end of 2028 and create 500 full-time jobs.

Combined with the existing 20,000 tpa Riverside facility in Chattanooga, the company's total production capacity will exceed 50,000 tpa by 2028. The expansion is supported by binding offtake agreements with Panasonic Energy, Stellantis, and PowerCo. The company recently received a conditional DOE loan commitment of US$754.8 million for the Enterprise South facility, along with previous awards of a US$100 million grant and US$103 million investment tax credit for the Riverside facility.

NOVONIX (NASDAQ: NVX) has joined other American Active Anode Material Producers (AAAMP) in filing a trade case with the U.S. Department of Commerce against China's unfair graphite pricing practices. The petition alleges that China, which controls 95% of the battery-grade graphite market, is exporting artificially cheap graphite, potentially harming domestic producers with dumping margins up to 920%.

NOVONIX's Riverside facility in Chattanooga, Tennessee, is set to become North America's first large-scale synthetic graphite production site for batteries, with commercial production starting in 2025 and planned output of 20,000 tonnes annually. The company has secured significant government support, including a $100 million DOE grant, a $103 million investment tax credit, and a conditional commitment for a $754.8 million DOE loan for a proposed new facility.

NOVONIX (NASDAQ: NVX) has received a conditional commitment from the U.S. Department of Energy for a $754.8 million loan to partially finance a new synthetic graphite manufacturing facility in Chattanooga, Tennessee. The facility will produce 31,500 tonnes per annum of synthetic graphite, supporting battery production for approximately 325,000 EVs annually.

The facility is expected to reach full production capacity by end of 2028, creating 450 full-time operational jobs and 500 construction jobs. The loan includes $692 million in principal and $62.8 million in capitalized interest, structured in two tranches with 15-year and 10-year terms. NOVONIX has already secured binding offtake agreements with Panasonic Energy, Stellantis, and PowerCo.

NOVONIX (NASDAQ: NVX) has announced a strategic partnership with Gamry Instruments to integrate Electrochemical Impedance Spectroscopy (EIS) technology with NOVONIX's Ultra-High Precision Coulometry (UHPC) system. The collaboration enables automated EIS measurements during experiments, eliminating the need to remove cells from UHPC for separate testing.

The integration involves connecting both the UHPC Channel Module and Gamry EIS box to a NOVONIX Thermal Chamber through a new interconnect cable. Compatible Gamry devices include EISBOX 5000, EISBOX 1010, Interface 1010, Interface 5000, and IMX8 Multiplexer. NOVONIX will distribute Gamry products as part of integrated UHPC systems globally, with existing customers receiving free software updates but requiring new UHPC cables.

NOVONIX (NASDAQ: NVX, ASX: NVX) announced three upcoming investor events in December 2024. The company will host an investor presentation and site tour at its Chattanooga facilities on December 5th, with CEO Dr. Chris Burns presenting. Additionally, Dr. Burns will participate in the Jefferies Battery Storage & Materials Virtual Conference on December 13th and a Deutsche Bank Fireside Chat on December 17th. Presentation materials and webcast links will be available on NOVONIX's investor relations website.

NOVONIX and PowerCo SE have signed a binding offtake agreement for a minimum of 32,000 tonnes of high-performance synthetic graphite material to be supplied from 2027-2031. PowerCo, established by Volkswagen in 2022, operates three gigafactories with a combined capacity of 200 GWh/year. NOVONIX's Riverside facility will begin commercial production in 2025, targeting 20,000 tonnes per annum output. The company received a US$100 million DOE grant and US$103 million investment tax credit for the facility. NOVONIX plans a second facility in the southeastern US with initial 30,000 tpa capacity, expandable to 75,000 tpa, aiming for total production of 150,000 tpa.

NOVONIX (NASDAQ: NVX) and Stellantis have signed a binding offtake agreement for high-performance synthetic graphite material. The deal involves supplying between 86,250 and 115,000 tonnes of material to Stellantis' North American cell manufacturing partners from 2026 to 2031. The supply will come from NOVONIX's Riverside facility and a planned expansion site.

NOVONIX's Riverside facility, supported by a US$100 million DOE grant and US$103 million investment tax credit, will begin commercial production in 2025 with a 20,000 tonnes per annum capacity. The company plans to build a new facility in the southeastern US with an initial 30,000 tpa capacity, expandable to 75,000 tpa, targeting total production of 150,000 tpa.