NOVONIX Receives Approval for Purchase of Enterprise South Land for Planned Enterprise South Manufacturing Facility
NOVONIX (NASDAQ: NVX) has received unanimous approval from Chattanooga and Hamilton County to purchase a 182-acre parcel for its second mass production plant (Enterprise South) for US$4.6 million. The company will receive approximately US$54 million in tax benefits over 15 years.
The Enterprise South facility is expected to reach 31,500 tonnes per annum (tpa) capacity by 2028 and create 500 jobs. Combined with the existing Riverside facility (20,000 tpa), total production capacity will exceed 50,000 tpa in Chattanooga by 2028.
The expansion is supported by a US$754.8 million conditional DOE loan commitment. The Riverside facility, set to begin commercial production in early 2026, has received a US$100 million DOE grant and US$103 million investment tax credit. NOVONIX has secured binding offtake agreements with Panasonic Energy, Stellantis, and PowerCo, utilizing full production capacity at Riverside and necessitating the Enterprise South expansion.
NOVONIX (NASDAQ: NVX) ha ricevuto l'approvazione unanime da Chattanooga e dalla Contea di Hamilton per l'acquisto di un terreno di 182 acri per il suo secondo impianto di produzione di massa (Enterprise South) per 4,6 milioni di dollari. L'azienda riceverà circa 54 milioni di dollari in benefici fiscali nel corso di 15 anni.
Si prevede che il stabilimento di Enterprise South raggiunga una capacità di 31.500 tonnellate all'anno (tpa) entro il 2028 e crei 500 posti di lavoro. Combinato con l'attuale stabilimento di Riverside (20.000 tpa), la capacità produttiva totale supererà le 50.000 tpa a Chattanooga entro il 2028.
L'espansione è supportata da un impegno di prestito condizionale DOE di 754,8 milioni di dollari. L'impianto di Riverside, che inizierà la produzione commerciale all'inizio del 2026, ha ricevuto un contributo di 100 milioni di dollari dal DOE e un credito d'imposta per investimenti di 103 milioni di dollari. NOVONIX ha assicurato contratti di acquisto vincolanti con Panasonic Energy, Stellantis e PowerCo, utilizzando la piena capacità produttiva di Riverside e rendendo necessaria l'espansione di Enterprise South.
NOVONIX (NASDAQ: NVX) ha recibido la aprobación unánime de Chattanooga y el Condado de Hamilton para comprar una parcela de 182 acres para su segunda planta de producción en masa (Enterprise South) por 4,6 millones de dólares. La empresa recibirá aproximadamente 54 millones de dólares en beneficios fiscales durante 15 años.
Se espera que la instalación de Enterprise South alcance una capacidad de 31,500 toneladas por año (tpa) para 2028 y genere 500 empleos. Combinada con la instalación existente de Riverside (20,000 tpa), la capacidad de producción total superará las 50,000 tpa en Chattanooga para 2028.
La expansión está respaldada por un compromiso de préstamo condicional del DOE de 754,8 millones de dólares. La instalación de Riverside, que comenzará la producción comercial a principios de 2026, ha recibido una subvención de 100 millones de dólares del DOE y un crédito fiscal por inversiones de 103 millones de dólares. NOVONIX ha asegurado acuerdos de compra vinculantes con Panasonic Energy, Stellantis y PowerCo, utilizando la capacidad de producción total en Riverside y haciendo necesaria la expansión de Enterprise South.
NOVONIX (NASDAQ: NVX)는 채터누가와 해밀턴 카운티로부터 182에이커 규모의 부지를 460만 달러에 두 번째 대량 생산 공장(Enterprise South) 구매에 대한 만장일치 승인을 받았습니다. 이 회사는 15년 동안 약 5,400만 달러의 세금 혜택을 받을 것입니다.
Enterprise South 시설은 2028년까지 연간 31,500톤(tpa) 용량에 도달할 것으로 예상되며, 500개의 일자리를 창출할 것입니다. 기존의 리버사이드 시설(20,000 tpa)과 결합하여 2028년까지 채터누가의 총 생산 용량은 50,000 tpa를 초과할 것입니다.
이 확장은 7억 5480만 달러의 조건부 DOE 대출 약정에 의해 지원받고 있습니다. 2026년 초 상업 생산을 시작할 리버사이드 시설은 DOE로부터 1억 달러의 보조금과 1억 3백만 달러의 투자 세액 공제를 받았습니다. NOVONIX는 Panasonic Energy, Stellantis 및 PowerCo와의 구속력 있는 구매 계약을 확보하여 리버사이드의 전체 생산 용량을 활용하고 Enterprise South 확장을 필요로 하고 있습니다.
NOVONIX (NASDAQ: NVX) a reçu l'approbation unanime de Chattanooga et du comté de Hamilton pour acheter un terrain de 182 acres pour sa deuxième usine de production de masse (Enterprise South) pour 4,6 millions de dollars. L'entreprise bénéficiera d'environ 54 millions de dollars d'avantages fiscaux sur 15 ans.
Il est prévu que l'installation d'Enterprise South atteigne une capacité de 31 500 tonnes par an (tpa) d'ici 2028 et crée 500 emplois. Combinée à l'installation existante de Riverside (20 000 tpa), la capacité de production totale dépassera les 50 000 tpa à Chattanooga d'ici 2028.
L'expansion est soutenue par un engagement de prêt conditionnel du DOE de 754,8 millions de dollars. L'installation de Riverside, qui doit commencer la production commerciale début 2026, a reçu une subvention de 100 millions de dollars du DOE et un crédit d'impôt sur les investissements de 103 millions de dollars. NOVONIX a sécurisé des contrats d'approvisionnement contraignants avec Panasonic Energy, Stellantis et PowerCo, utilisant la pleine capacité de production à Riverside et rendant nécessaire l'expansion d'Enterprise South.
NOVONIX (NASDAQ: NVX) hat einstimmige Genehmigung von Chattanooga und dem Hamilton County erhalten, um ein 182 Acres großes Grundstück für sein zweites Massenproduktionswerk (Enterprise South) für 4,6 Millionen US-Dollar zu erwerben. Das Unternehmen wird über einen Zeitraum von 15 Jahren etwa 54 Millionen US-Dollar an Steuervergünstigungen erhalten.
Die Enterprise South-Anlage soll bis 2028 eine Kapazität von 31.500 Tonnen pro Jahr (tpa) erreichen und 500 Arbeitsplätze schaffen. Zusammen mit der bestehenden Riverside-Anlage (20.000 tpa) wird die gesamte Produktionskapazität bis 2028 in Chattanooga 50.000 tpa überschreiten.
Die Erweiterung wird durch ein bedingtes Darlehensengagement des DOE in Höhe von 754,8 Millionen US-Dollar unterstützt. Die Riverside-Anlage, die Anfang 2026 mit der kommerziellen Produktion beginnen soll, hat einen Zuschuss von 100 Millionen US-Dollar vom DOE und einen Investitionssteuergutschrift von 103 Millionen US-Dollar erhalten. NOVONIX hat verbindliche Abnahmeverträge mit Panasonic Energy, Stellantis und PowerCo gesichert, die die volle Produktionskapazität in Riverside nutzen und die Erweiterung von Enterprise South erforderlich machen.
- Secured $754.8M conditional DOE loan commitment for Enterprise South facility
- Received $100M DOE grant and $103M investment tax credit for Riverside facility
- Obtained $54M in tax benefits over 15 years for Enterprise South
- Signed binding offtake agreements with major customers (Panasonic, Stellantis, PowerCo)
- Total production capacity to exceed 50,000 tpa by 2028
- Creating 500 new full-time jobs at Enterprise South
- Enterprise South facility won't reach full capacity until end of 2028
- Land purchase and benefits still subject to final approval from Industrial Development Board
Insights
NOVONIX's unanimous approval for its Enterprise South land purchase represents a significant expansion milestone with substantial financial backing. The
The company has secured impressive government financial support, including a conditional
Most importantly, NOVONIX has secured binding offtake agreements with major manufacturers Panasonic Energy, Stellantis, and PowerCo, fully committing the capacity of its Riverside facility. This customer validation is the primary driver for the Enterprise South expansion and represents critical commercial validation. The projected creation of 500 jobs further strengthens community and government relationships, as evidenced by the educational partnership with Lookout Valley Middle High School.
This announcement demonstrates execution of NOVONIX's commercialization roadmap with significantly reduced financial risk through the combination of secured customers, substantial government support, and a sequential facility build-out approach.
NOVONIX's Enterprise South facility approval represents a important development in establishing North American battery material production capacity. The company is positioned to become the first large-scale producer of high-performance synthetic graphite in North America, addressing a critical supply chain vulnerability in the EV battery sector.
The expansion strategy follows a measured, sequential approach to manufacturing scale-up. Starting commercial production at Riverside in early 2026 (20,000 tpa) before fully ramping Enterprise South by 2028 (31,500 tpa) allows operational learnings from the first facility to inform the second, reducing execution risk. This phased approach is particularly important for advanced materials manufacturing where quality control and process optimization are critical.
The 500 jobs projection highlights the workforce development challenge inherent in specialized manufacturing. NOVONIX's partnership with local schools through their Institute of Advanced Battery Technology demonstrates foresight in developing the specialized workforce needed. This community integration strategy serves multiple purposes: creating a talent pipeline, securing continued local government support, and fulfilling PILOT agreement commitments.
The unanimous approval from both the City of Chattanooga and Hamilton County, along with substantial tax benefits, indicates strong community alignment. With binding customer commitments already exceeding current capacity, this expansion addresses a clear market demand while advancing domestic production capabilities in a strategically important sector.
BRISBANE, Australia, March 13, 2025 (GLOBE NEWSWIRE) -- NOVONIX Limited (NASDAQ: NVX, ASX: NVX) (“NOVONIX” or “the Company”), a leading battery materials and technology company, announced today, that it has received unanimous approval from each of the City of Chattanooga and Hamilton County for the purchase of a 182-acre parcel of land for its second mass production plant (“Enterprise South”). Enterprise South will be acquired for approximately US
To meet increasing customer demand, the Company previously announced plans for its next large-scale synthetic graphite manufacturing plant in Chattanooga, Tennessee. Enterprise South is expected to reach full production capacity of 31,500 tonnes per annum (“tpa”) by the end of 2028 and is anticipated to create 500 full-time jobs. The Enterprise South facility, together with NOVONIX’s existing Riverside facility which is scaling up to production of 20,000 tpa, is planned to bring the Company’s total production capacity to over 50,000 tpa in Chattanooga by 2028.
Mr. Robert Long, Interim CEO of NOVONIX, said: “We are pleased to announce this next step in our expansion in Chattanooga and deepen our roots in the local community as we continue to grow as a company. We have worked closely with the city, county, and state over the past seven years of operations in Chattanooga. They have been great partners and we, in turn, are proud to strengthen our local hiring and workforce development commitments to the community.”
In addition to the commitments contained in the Company’s local Payment in Lieu of Taxes (PILOT) agreement, NOVONIX also announced the extension and expansion of its local partnership with Lookout Valley Middle High School, NOVONIX Institute of Advanced Battery Technology (NIABT). As part of Hamilton County School’s Future Ready Institutes, the NIABT provides career-focused learning aimed at equipping students with the skills and knowledge they need to succeed in the battery industry and other STEM innovation fields.
In December, the Company announced a conditional commitment from the DOE through the Loan Programs Office (“LPO”) for a direct loan of up to US
NOVONIX’s Riverside facility, also located in Chattanooga, is poised to become the first large-scale production site dedicated to high-performance synthetic graphite for the battery sector in North America. It is slated to begin commercial production in early 2026, with plans to grow output to 20,000 tpa to meet current customer commitments. Previously, the Company announced that the DOE’s Office of Manufacturing and Energy Supply Chains (“MESC”) awarded the Company a US
This announcement has been authorised for release by Admiral Robert J Natter, USN Ret., Chairman.
About NOVONIX
NOVONIX is a leading battery technology company revolutionizing the global lithium-ion battery industry with innovative, sustainable technologies, high-performance materials, and more efficient production methods. The Company manufactures industry-leading battery cell testing equipment, is growing its high-performance synthetic graphite material manufacturing operations, and has developed a patented all-dry, zero-waste cathode synthesis process. Through advanced R&D capabilities, proprietary technology, and strategic partnerships, NOVONIX has gained a prominent position in the electric vehicle and energy storage systems battery industry and is powering a cleaner energy future.
To learn more, visit us at www.novonixgroup.com or on LinkedIn and X.
For NOVONIX Limited
Scott Espenshade, ir@novonixgroup.com (investors)
Stephanie Reid, media@novonixgroup.com (media)
Cautionary Note Regarding Forward-Looking Statements
This communication contains forward-looking statements about the Company and the industry in which we operate. Forward-looking statements can generally be identified by use of words such as “anticipate,” “believe,” “contemplate,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” or “would,” or other similar expressions. Examples of forward-looking statements in this communication include, among others, statements we make regarding our anticipated production capacity and commencement of commercial production at our Riverside facility and the planned Enterprise South facility, our plans to purchase property for and build the new production facility, and our efforts to finance this new production facility with a loan from the LPO.
We have based such statements on our current expectations and projections about future events and trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. Such forward-looking statements involve and are subject to known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, the timely deployment and scaling of our furnace technology, our ability to meet the technical specifications and demand of our existing and future customers, the accuracy of our estimates regarding market size, expenses, future revenue, capital requirements, needs and access for additional financing, the availability and impact and our compliance with the applicable terms of government support, including the DOE MESC grant and, if a definitive agreement is executed and the loan is funded, the LPO loan, our ability to satisfy the conditions precedent to our entering into definitive loan documents and to the DOE’s funding the LPO loan and, if the loan is obtained, our ability to comply with the restrictions and obligations under the loan documents, our ability to obtain patent rights effective to protect our technologies and processes and successfully defend any challenges to such rights and prevent others from commercializing such technologies and processes, and regulatory developments in the United States, Australia and other jurisdictions. These and other factors that could affect our business and results are included in our filings with the U.S. Securities and Exchange Commission (“SEC”), including the Company’s most recent annual report on Form 20-F. Copies of these filings may be obtained by visiting our Investor Relations website at www.novonixgroup.com or the SEC’s website at www.sec.gov.
Forward-looking statements are not guarantees of future performance or outcomes, and actual performance and outcomes may differ materially from those made in or suggested by the forward-looking statements contained in this communication. Accordingly, you should not place undue reliance on forward-looking statements. Any forward-looking statement in this communication is based only on information currently available to us and speaks only as of the date on which it is made. We undertake no obligation to update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise, except as required by law.
1 NOVONIX Offered Conditional Commitment for US
2 NOVONIX Finalizes US
3 U.S. Government Selects NOVONIX to Receive US
4 Panasonic Energy and NOVONIX Sign Binding Off-Take Agreement - NOVONIX
5 NOVONIX and Stellantis Sign Binding Offtake Agreement - NOVONIX
6 NOVONIX and PowerCo SE Sign Binding Offtake Agreement - NOVONIX
FAQ
What is the production capacity of NOVONIX's new Enterprise South facility?
How many jobs will NOVONIX's Enterprise South facility create?
What government funding has NOVONIX (NVX) secured for its expansion?
Which companies have signed offtake agreements with NOVONIX (NVX)?
When will NOVONIX's Riverside facility begin commercial production?
