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

Core Viewpoint - NOVONIX Limited is expanding its operations by entering a purchase and sale agreement for land in Chattanooga, Tennessee, to establish its second mass production plant, NOVONIX Enterprise South, which is expected to enhance its production capacity significantly [1][2]. Company Expansion - The new facility, located in the Enterprise South Industrial Park, aims to achieve a production capacity of 31,500 tonnes per annum (tpa) by the end of 2028, creating 500 full-time jobs [2]. - With the addition of the Enterprise South facility, NOVONIX's total production capacity is projected to exceed 50,000 tpa by 2028, complementing its existing 20,000 tpa facility at Riverside in Chattanooga [2]. Partnerships and Agreements - NOVONIX has secured binding offtake agreements to supply synthetic graphite to major companies including Panasonic Energy, Stellantis, and PowerCo, indicating strong demand for its products [2]. - The company has received a conditional commitment from the U.S. Department of Energy for a direct loan of up to US$754.8 million to partially finance the Enterprise South facility, under the DOE's Advanced Technology Vehicle Manufacturing program [3]. Financial Support and Grants - NOVONIX's Riverside facility has been awarded a US$100 million grant from the U.S. Department of Energy and has also been selected for a US$103 million investment tax credit to support its funding [4].