NOVONIX Announces Intended Location for New Synthetic Graphite Manufacturing Plant in the Enterprise South Industrial Park in Chattanooga, Tennessee

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Novonix Ltd.
Novonix Ltd.

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$754.8 million ($692 million in principal and $62.8 million in capitalized interest).4 The loan is to be applied towards partially financing the proposed Enterprise South facility and is being offered under the DOE LPO’s Advanced Technology Vehicle Manufacturing program.


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