BRISBANE, Australia, Feb. 03, 2025 (GLOBE NEWSWIRE) -- NOVONIX Limited (NASDAQ: NVX, ASX: NVX) (“NOVONIX” or the “Company”), a leading battery materials and technology company, applauds today’s preliminary determination by the International Trade Commission (ITC) that China has supressed the establishment of the domestic graphite industry by exporting artificially cheap graphite to the United States. As previously announced on December 19, 2024, the American Active Anode Material Producers’ (“AAAMP”), including NOVONIX, initiated a case with the ITC and the U.S. Department of Commerce (“Commerce”) to investigate whether China is exporting natural and synthetic graphite used to make lithium-ion battery anode material at unfair prices to the United States and seeking import tariffs as a remedy.1
Mr. Robert Long, Interim CEO of NOVONIX, said, “China’s strategic efforts to control the global critical minerals supply chain, fueled by massive government subsidies with the clear intent of suppressing fair competition, are a threat to U.S. energy and national security. The ITC’s ruling represents an important step towards leveling the playing field for U.S. critical minerals producers and bringing transparency to the global marketplace. This will protect companies like NOVONIX from unfair predatory pricing practises by Chinese producers.
Now that the ITC has made its preliminary determination, the case will proceed simultaneously before Commerce and the ITC under the jurisdiction of U.S. antidumping and countervailing duty (AD/CVD) statutes. If the investigation proves conclusive, Commerce will assess the use of additional tariffs equal to the extent of unfair pricing by the Chinese. China currently has over 95% market share for battery grade graphite.2
NOVONIX’s Riverside facility, located in Chattanooga, Tennessee, 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 tonnes per annum to meet current customer commitments for Panasonic, Stellantis, and PowerCo.
This case was filed by the AAAMP which is comprised of four members of the North American Graphite Alliance (“NAGA”), including NOVONIX, and two additional graphite anode material producers in the United States. NAGA represents American and Canadian producers of battery-grade natural and synthetic graphite, both of which are used to create anode material for lithium-ion batteries.
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.
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