NOVONIX Announces Intended Location for New Synthetic Graphite Manufacturing Plant in the Enterprise South Industrial Park in Chattanooga, Tennessee
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) ha annunciato piani per entrare in un accordo di acquisto con Chattanooga e la Contea di Hamilton per un terreno in cui costruire il suo secondo stabilimento di produzione di massa, NOVONIX Enterprise South. La nuova struttura dovrebbe raggiungere una capacità produttiva di 31.500 tonnellate all'anno entro la fine del 2028 e creare 500 posti di lavoro a tempo pieno.
Combinata con l'esistente stabilimento Riverside da 20.000 tonnellate all'anno a Chattanooga, la capacità produttiva totale dell'azienda supererà le 50.000 tonnellate all'anno entro il 2028. L'espansione è supportata da contratti di acquisto vincolanti con Panasonic Energy, Stellantis e PowerCo. L'azienda ha recentemente ricevuto un impegno condizionale per un prestito dal DOE di 754,8 milioni di dollari per l'impianto Enterprise South, insieme a premi precedenti di un sovvenzione di 100 milioni di dollari e di un credito d'imposta per investimenti di 103 milioni di dollari per lo stabilimento Riverside.
NOVONIX (NASDAQ: NVX) anunció planes para entrar en un acuerdo de compra con Chattanooga y el Condado de Hamilton para un terreno en el que construir su segunda planta de producción masiva, NOVONIX Enterprise South. Se espera que la nueva instalación alcance una capacidad de producción de 31,500 toneladas al año para finales de 2028 y cree 500 empleos a tiempo completo.
Combinada con la planta existente Riverside de 20,000 toneladas al año en Chattanooga, la capacidad de producción total de la compañía superará las 50,000 toneladas anualmente para 2028. La expansión cuenta con el apoyo de acuerdos de compra vinculantes con Panasonic Energy, Stellantis y PowerCo. La empresa recibió recientemente un compromiso de préstamo condicional del DOE de 754.8 millones de dólares para la planta Enterprise South, junto con premios previos de una subvención de 100 millones de dólares y un crédito fiscal de inversión de 103 millones de dólares para la planta Riverside.
NOVONIX (NASDAQ: NVX)는 채터누가 및 해밀턴 카운티와 두 번째 대량 생산 공장인 NOVONIX Enterprise South를 건설하기 위한 토지 구매 계약을 체결할 계획을 발표했습니다. 새로운 시설은 2028년 말까지 연간 31,500톤의 생산 능력에 도달할 것으로 예상되며 500개의 정규직 일자리를 창출할 것입니다.
채터누가에 있는 기존의 연간 20,000톤 생산량을 갖춘 리버사이드 시설과 결합하여 회사의 총 생산 능력은 2028년까지 50,000톤을 초과할 것입니다. 이 확장은 Panasonic Energy, Stellantis 및 PowerCo와의 구속력 있는 구매 계약으로 뒷받침됩니다. 회사는 최근 Enterprise South 시설을 위한 7억 5480만 달러의 조건부 DOE 대출 약속을 받았으며, 리버사이드 시설을 위한 1억 달러의 보조금과 1억 300만 달러의 투자세액 공제를 포함한 이전 수상도 있었습니다.
NOVONIX (NASDAQ: NVX) a annoncé des projets de conclure un accord d'achat avec Chattanooga et le comté de Hamilton pour un terrain visant à construire sa deuxième usine de production de masse, NOVONIX Enterprise South. La nouvelle installation devrait atteindre une capacité de production de 31 500 tonnes par an d'ici fin 2028 et créer 500 emplois à temps plein.
Combinée avec l'usine Riverside existante de 20 000 tpa à Chattanooga, la capacité de production totale de l'entreprise dépassera 50 000 tpa d'ici 2028. L'expansion est soutenue par des accords d'achat contraignants avec Panasonic Energy, Stellantis et PowerCo. L'entreprise a récemment reçu un engagement de prêt conditionnel du DOE de 754,8 millions de dollars pour l'usine Enterprise South, ainsi que des subventions précédentes de 100 millions de dollars et de 103 millions de dollars de crédit d'impôt pour investissements pour l'usine Riverside.
NOVONIX (NASDAQ: NVX) kündigte Pläne an, einen Kaufvertrag mit Chattanooga und dem Hamilton County für ein Grundstück abzuschließen, um sein zweites Massenproduktionswerk, NOVONIX Enterprise South, zu errichten. Die neue Anlage soll bis Ende 2028 eine Produktionskapazität von 31.500 Tonnen pro Jahr erreichen und 500 Vollzeitstellen schaffen.
In Kombination mit der bestehenden Riverside-Anlage in Chattanooga mit einer Kapazität von 20.000 tpa wird die gesamte Produktionskapazität des Unternehmens bis 2028 50.000 tpa überschreiten. Die Expansion wird durch verbindliche Abnahmevereinbarungen mit Panasonic Energy, Stellantis und PowerCo unterstützt. Das Unternehmen erhielt kürzlich ein bedingtes Darlehensversprechen des DOE von 754,8 Millionen US-Dollar für das Enterprise South-Werk sowie frühere Auszeichnungen von 100 Millionen US-Dollar für ein Zuschuss und 103 Millionen US-Dollar für Steuervergünstigungen für Investitionen in das Riverside-Werk.
- Secured binding offtake agreements with major customers (Panasonic Energy, Stellantis, PowerCo)
- Secured conditional DOE loan of US$754.8M for Enterprise South facility
- Received US$100M grant and US$103M investment tax credit for Riverside facility
- Adding 31,500 tpa production capacity, reaching total 50,000+ tpa by 2028
- Creating 500 new full-time jobs at Enterprise South facility
- None.
Insights
The planned 31,500 tonnes per annum Enterprise South facility represents a strategic expansion that will more than double NOVONIX's production capacity to over 50,000 tpa by 2028. The project's financial backing is robust, with a
The company's secured binding offtake agreements with major players like Panasonic Energy, Stellantis and PowerCo validate market demand and provide revenue visibility. With Riverside facility already at capacity, this expansion is important for meeting growing customer commitments. The creation of 500 full-time jobs also indicates significant operational scale and potential economic returns.
The strategic location choice in Chattanooga leverages existing infrastructure and operational synergies with the Riverside facility, potentially optimizing costs and operational efficiency. Government support at multiple levels (federal, state, local) significantly de-risks the project's execution and improves its economic viability.
This facility positions NOVONIX as a pioneering force in North American battery supply chain localization. Being the first large-scale synthetic graphite production site for batteries in North America gives NOVONIX a significant first-mover advantage in a rapidly growing market. The timing aligns perfectly with the automotive industry's accelerating EV transition and increasing demand for domestic battery materials.
The binding offtake agreements with three major players demonstrate strong market validation. Particularly noteworthy is that the Riverside facility is already at capacity before beginning commercial production, indicating robust demand fundamentals. The Enterprise South expansion's 31,500 tpa capacity addition is strategically timed to meet this growing demand.
The extensive government support through loans, grants and tax credits reflects the strategic importance of domestic battery material production capacity. This alignment with national policy priorities provides additional security and potential for future support.
BRISBANE, Australia, Jan. 07, 2025 (GLOBE NEWSWIRE) -- NOVONIX Limited (NASDAQ: NVX, ASX: NVX) (“NOVONIX” or “the Company”), a leading battery materials and technology company, announced today the intention to enter a purchase and sale agreement with the City of Chattanooga, Tennessee and Hamilton County, Tennessee for the land to be used for NOVONIX’s second mass production plant, NOVONIX Enterprise South. The execution of the purchase and sale agreement is subject to approvals of the City of Chattanooga and Hamilton County, and the closing of the transaction will be subject to the satisfaction of certain conditions to be specified in the purchase and sale agreement.
Dr. Chris Burns, CEO of NOVONIX, said: “We are thrilled to be announcing this next step in our further expansion in Chattanooga. We have worked closely with the city, county and state over the past seven years of operations in Chattanooga and they have been great partners in supporting our growth plans. Securing this new site for our expansion is a continued example of that partnership. We have signed binding offtake agreements to supply synthetic graphite to Panasonic Energy,1 Stellantis,2 and PowerCo,3 which has our Riverside facility at capacity, and we’re looking forward to opening our doors at Enterprise South.”
Located in the Enterprise South Industrial Park, NOVONIX 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 facility, together with NOVONIX’s existing 20,000 tpa facility at Riverside in Chattanooga, is planned to bring the Company’s total production capacity to over 50,000 tpa by 2028.
Tim Kelly, Mayor of Chattanooga, said: "This investment by NOVONIX shows that Chattanooga has the talent and the business environment to lead in the green economy. The city and our partners are committed to working with the company as they bring this new site online."
Weston Wamp, Mayor of Hamilton County, said: “NOVONIX is wise to again bet on Hamilton County and our people as they forge the future of battery technology. From our earliest discussions with the leadership of NOVONIX, they were supportive of our vision to create career opportunities for Hamilton County students, which will be made possible through this investment.”
On 16 December 2024, the Company announced a conditional commitment from the U.S. Department of Energy (“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 later this year, 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
Adam Myers, VP Economic Development for the Chattanooga Area Chamber of Commerce, said: “NOVONIX is a forward-thinking company. Their choice of location underscores that fact, proving that Chattanooga is an ideal location for future-focused businesses. We are excited to take this next step with Novonix and thank all of our partners who have been involved in bringing this opportunity to Chattanooga."
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 Panasonic Energy and NOVONIX Sign Binding Off-Take Agreement - NOVONIX
2 NOVONIX and Stellantis Sign Binding Offtake Agreement - NOVONIX
3 NOVONIX and PowerCo SE Sign Binding Offtake Agreement - NOVONIX
4 NOVONIX Offered Conditional Commitment for US
5 NOVONIX Finalizes US
6 U.S. Government Selects NOVONIX to Receive US
FAQ
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